Visit Philadelphia & Convention Bureau unveil 2024 Tourism Outlook

Thursday, February 22, 2024

Today, the Philadelphia Convention and Visitors Bureau (PHLCVB) and Visit Philadelphia jointly hosted the Philadelphia 2024 Tourism Outlook at the Pennsylvania Convention Center. Mayor Cherelle Parker delivered a keynote address, and industry leaders convened for insightful discussions, offering an overview of Greater Philadelphia’s tourism performance and future prospects.

Angela Val, President and CEO of Visit Philadelphia, and Gregg Caren, President and CEO of PHLCVB, revealed that in 2023, nearly 43 million visitors explored the 5-County Philadelphia region, marking a 6% increase from 2022. These visitors injected $7.6 billion into the market, fostering an economic impact of $12.4 billion. Key performance indicators exhibited year-over-year growth, signaling a robust post-pandemic recovery, with most metrics meeting or exceeding 2019 benchmarks, except for visitation numbers.

The tourism industry in the Greater Philadelphia 5-county region achieved the following results in 2023:

• Total Visitation: 42.9 million, up by 6% compared to 2022 (down by 6% compared to 2019)
• Visitor Spending: $7.6 billion, an 8% increase versus 2022 (stable compared to 2019)
• Economic Impact: $12.4 billion, a 6% increase versus 2022 (stable compared to 2019)
• State and Local Taxes: $1 billion, an 11% increase versus 2022 (up by 4% versus 2019)
• Hospitality-Related Jobs: 192,700, an 8% increase versus 2022 (up by 1% versus 2019)

Similar positive trends were observed within Philadelphia County:

• Philadelphia Visitation: 25.8 million, a 7% increase versus 2022 (down by 7% versus 2019)
• Visitor Spending in Philadelphia: $4.4 billion, a 10% increase versus 2022 (down by 1% versus 2019)
• Philadelphia Economic Impact: $6.6 billion, a 9% increase versus 2022 (down by 8% versus 2019)
• State and Local Taxes in Philadelphia: $387 million, a 15% increase versus 2022 (up by 10% versus 2019)
• Philadelphia Hospitality-Related Jobs: 77,200, a 10% increase versus 2022 (down by 1% versus 2019)

Progress was also evident in Philadelphia County hotel recovery, with all key metrics surpassing 2019 levels.

The event featured Mayor Cherelle Parker’s inaugural address to the region’s tourism industry, followed by a panel discussion with prominent leaders including Angela Val, Gregg Caren, John McNichol, and Kathryn Ott Lovell. Led by Cherri Gregg of WHYY, the discussion reflected on 2023’s outcomes and hinted at the industry’s prospects for 2024. Annual reports from all four organizations, including additional segment-specific data, will be released in March.

Moreover, a fireside chat between Erik Hansen of the U.S. Travel Association and Paul Bencivengo of Visit Bucks County delved into advocacy strategies for the industry among state and local elected officials.

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