Visitor Spending in Lake Norman Tops $23 Million; Supports 235 Jobs

Visit Lake Norman’s (VLN) efforts in recruiting and hosting events over the last twelve months have paid off in the millions to the local economy, generating an estimated $23,057,380 in direct visitor spending to our towns. The events brought in approximately 81,829 attendees to Cornelius, Davidson and Huntersville between July 2011 and June 2012, a 49.2% increase over the previous fiscal year.  These visitors spent money in local businesses, such as hotels, restaurants, retail stores, and gas stations, propelling the economy forward and saving local residents $430 in taxes per household.  www.visitlakenorman.org

According to the N.C. Department of Commerce, every $98,000 in visitor spending supports one N.C. job and each non-resident dollar spent generates twenty-five cents in wages and salaries, meaning VLN’s contribution equaled $5,764,345 in income to residents and helped sustain 235 jobs in the past year alone.  On a statewide level, the leisure and hospitality industry has led N.C.’s employment growth since 2011, with domestic visitors spending a record $18.4 billion across the state, generating $2.8 billion in tax revenues and supporting over 187,900 jobs.  www.nccommerce.com

The travel and tourism industry has consistently commanded the top spot in employment growth for the national economy over the last few months as well, with one in nine jobs depending on travelers.  The U.S. Travel Association reported earlier this month that since March of 2011, the travel industry has created 271,000 new jobs, a growth rate of 26% faster than any other sector of the economy.  www.ustravel.org  According to David Huether, Senior VP of Economics and Research for U.S. Travel Association reasons include that “hospitality jobs cannot be exported or easily replaced through automation.”

For more information please contact Courtney Wolfrom, VLN Marketing & Communications Manager, at 704-987-3300 or wolfrom@lakenorman.org.

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