North Carolina Tourism Industry’s Economic Impact: Record Spending and Job Growth in 2024

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North Carolina’s tourism industry achieved a historic milestone in 2024, with total visitor spending reaching $36.7 billion, marking a 3.1% increase from the previous year. This surge highlights the growing significance of tourism in the state’s economy, underscoring its vital role in creating jobs, generating tax revenue, and supporting local businesses. As the state’s most impactful sector, tourism plays a central role in shaping North Carolina’s economic landscape.

The tourism sector in North Carolina is unique in that it benefits not only from the well-known attractions like the Great Smoky Mountains, the beautiful beaches of the Outer Banks, and cultural hubs like Asheville, but also from smaller towns, local museums, and community festivals. The diverse array of experiences North Carolina offers has helped it remain a top travel destination for both domestic and international visitors.

The data provided by Visit North Carolina in partnership with Tourism Economics offers insights into the comprehensive benefits of the tourism sector, both for the state’s residents and visitors. In addition to being a top contributor to the state’s economy, tourism has also been an essential factor in creating a stable source of tax revenue for the state and local governments.

Statewide Economic Contributions

Visitor spending in North Carolina not only bolstered the economy but also provided significant savings for residents. The $4.6 billion in tax revenue generated from tourism allowed North Carolina households to save an average of $593 annually in state and local taxes. This financial relief is a testament to the substantial economic impact of tourism on the state’s fiscal health.

The tourism industry also contributed to job creation, with direct tourism employment increasing by 1.4% to 230,338 jobs in 2024. Tourism payrolls rose by 2.6% to $9.5 billion, reflecting the sector’s role in providing stable employment opportunities across North Carolina.

Regional Highlights

The economic benefits of tourism were felt across all 100 counties in North Carolina. Notably, Mecklenburg County led the state with $5.8 billion in visitor expenditures, an increase of 9.6% from the previous year. Wake County followed with $3.3 billion, marking an 11.4% rise. Other counties such as Buncombe, Dare, and Guilford also experienced significant growth in tourism spending, highlighting the diverse appeal of North Carolina’s attractions.

Impact on Western North Carolina

Western North Carolina, particularly Buncombe County, experienced substantial growth in tourism-related employment. Buncombe County saw a 2.9% increase in tourism jobs, totaling 19,862 positions. This growth is attributed to the region’s rich cultural heritage, scenic landscapes, and attractions like the Biltmore Estate and the Blue Ridge Parkway.

However, the region faced challenges due to Hurricane Helene, which caused significant damage to infrastructure and tourism sites. Despite these setbacks, the resilience of local communities and the ongoing recovery efforts have been instrumental in sustaining the tourism industry’s vitality in the area.

Statewide Recovery and Future Outlook

In response to the challenges posed by Hurricane Helene, the North Carolina Department of Commerce has initiated a $1.4 billion federal recovery grant to support rebuilding efforts in western North Carolina. This initiative aims to restore damaged infrastructure, housing, and economic vitality, ensuring that the tourism industry can continue to thrive in the region.

Looking ahead, North Carolina’s tourism sector is poised for continued growth. The state’s diverse attractions, from the coastal beauty of the Outer Banks to the mountain vistas of the Appalachian region, combined with a robust infrastructure and a welcoming environment, position it as a premier destination for travelers. Ongoing investments in tourism marketing and development are expected to further enhance the state’s appeal to both domestic and international visitors.

Conclusion

The 2024 economic impact of North Carolina’s tourism industry underscores its significance as a cornerstone of the state’s economy. With record-breaking spending, job creation, and tax revenue generation, tourism continues to be a vital sector that supports communities statewide. As recovery efforts progress and new opportunities arise, North Carolina’s tourism industry is well-positioned to build on its successes and contribute to the state’s economic prosperity in the years to come.

Sources:

• North Carolina Breaks Tourism Spending Record in 2023
• N.C. Breaks Tourism Spending Record, Continues to Be #5 Most Visited State
• Effects of Hurricane Helene in North Carolina
• Disaster Recovery | NC Commerce