PROVIDENCE – From 2006 to 2007, tourism spending in the Ocean State jumped about 9.3 percent, according to a report released today by the R.I. Tourism Division in cooperation with local tourism boards.
The annual report – prepared for the second year by Global Insight – shows that tourism spending by those traveling more than 50 miles to Rhode Island increased to $4.24 billion from $3.88 billion in 2006. (READ MORE)
“For every 220 visitors, we create a job here in Rhode Island. For every 150 visitors, a student is put through school on the taxes that are generated,” R.I. Tourism Division Director of Operations Mark G. Brodeur said yesterday. “We actually had a very good year in 2007.”
The study also found that the average amount spent per visitor during the year was $384, with the state getting about 62 cents of each dollar spent. In all, tourism spending accounted for about 12 percent of state and local tax revenue, along with $2.63 billion in economic impact, representing 5 percent of Rhode Island’s Gross State Product.
“We knew that if tourism went away tomorrow, each household would have to pay an additional $1,350 a year in taxes,” Brodeur added.
Based on number of jobs, tourism is the fourth-largest industry in Rhode Island, with about 10 percent of Rhode Islanders owing their jobs to the sector. Last year, the average tourism wage was $31,000, according to the study.
The report also included annual spending by tourists coming from within 50 miles. Last year, that number showed a 10.7-percent increase, to $2.57 billion from $2.32 billion in 2006.
For additional information about the R.I. Tourism Division, the local tourism industry or upcoming activities and events in the Ocean State, visit www.VisitRhodeIsland.com.
Global Insight Inc., based in Waltham, Mass., is a provider of comprehensive economic, financial and political analysis, risk evaluation and economic forecasting services for industries, regions and nations around the world. For additional information, visit www.globalinsight.com.
