Pin It
ImageIthaca, N.Y. (April 10, 2009)—Despite the onset of recession, tourism spending in Tompkins County managed to grow 5.9 percent in 2008, well ahead of the state’s 4 percent growth rate, a new study reports.

“The Economic Impact of Tourism in New York State” shows total tourism spending in Tompkins County climbed to $170,256,000 last year, up from $160,734,000 in 2007. The industry employed 3,423 people locally, generating countywide labor income of $88,331,000, a 4.5 percent increase over 2007. Tourism spending also generated $11,925,348 in local taxes and $10,603,932 in state taxes, the study found.

“This is a snapshot of our industry in transition,” said Fred Bonn, director of the Ithaca/Tompkins Convention & Visitors Bureau. “We started 2008 in high gear then ran out of gas in September. I only wish the momentum carried through the second half of the year.”

Statewide tourism spending rose to $53 billion in 2008, sustaining an estimated 684,000 jobs. The industry contributed $7 billion in state and local taxes. On a regional level, tourism spending grew 2.5 percent in the Finger Lakes to nearly $2.7 billion.

“Tourism is still a major contributor to the local economy and the region, but we’re unlikely to see growth return for awhile,” Bonn said. “Locally, we’re looking at 10-15 percent declines this year. And even if the economy rebounds in the fourth quarter, consumer confidence and employment won’t stabilize for some time. We’re anticipating it could take 24 months to return to the levels we saw in early 2008.”

“The Economic Impact of Tourism in New York State” is commissioned annually by the NYS Division of Tourism, Empire State Development Corp. The study includes the direct, indirect and induced impact of tourism in each county of the state’s 11 tourism regions.

----
v5i16
Pin It