Visit Sarasota County

Transcription

1 Visit Sarasota County Economic Impact of Tourism: Fiscal Year 2017 Presentation

2 Purpose of Economic Impact Research Document Inform Marketing Inspire Communicate 2

3 Tourism Matters to Sarasota County $2,989,923,750 Economic Impact 3

4 2,710,300 visitors 4

5 Visitor Trends 2,311,100 2,468,200 2,710,

6 Tourism Matters to Sarasota County 1 VISITOR TO SARASOTA COUNTY Who stays in paid accommodations $967 TO SARASOTA COUNTY S ECONOMY 6

7 Global Tourism Matters to Sarasota County 1 INTERNATIONAL VISITOR TO SARASOTA COUNTY Who stays in paid accommodations $1,205 TO SARASOTA COUNTY S ECONOMY 7

8 24,700 jobs $673,379,500 in wages 8

9 Visitors Create Jobs 110 VISITORS TO SARASOTA COUNTY 1 SARASOTA COUNTY JOB 9

10 Tourism s Impact on Employment 22,500 Jobs from Direct Visitor Spending Jobs from Total Economic Impact 23,500 24,300 24,700 30,700 32,000 32,300 32,

11 $21,115,683¹ TDT paid 1 Report was prepared in October 2017 so September TDT figure was estimated. 11

12 Visitors save Sarasota County residents $640 per household 12

13 VSC Marketing ROI Inform Marketing $1 of VSC advertising spending in FY 2017 returned $743 in visitor spending. Inspire Communicate 13

14 Visitors Direct Spending FY 2017 Total $1,812,075,000 Accommodations Restaurants Shopping Attractions Entertainment Groceries Transportation $543,470,700 $535,101,100 $334,018,900 $114,201,000 $96,715,400 $84,285,100 $75,407,900 Other $28,874,900 14

15 Visitors Direct Spending FY Category Accommodations $490,967,800 $508,934,600 $543,470,700 Restaurants $472,378,900 $502,596,400 $535,101,100 Shopping $285,752,000 $320,772,600 $334,018,900 Attractions $80,755,400 $81,107,800 $114,201,000 Groceries $78,045,500 $78,598,200 $96,715,400 Entertainment $69,944,800 $74,595,900 $84,285,100 Transportation $67,324,900 $71,772,600 $75,407,900 Other $78,023,800 $75,498,100 $28,874,900 Total $1,623,193,100 $1,713,876,200 $1,812,075,000 15

16 Direct Spending by Visitor Type FY 2017 All visitors $1,812,075,000 In paid accommodations $1,176,505,100 VFRs $495,012,100 Day trippers $140,557,800 16

17 KPIs All Visitors Economic Indicators FY2016 FY2017 Change All visitors 2,468,200 2,710, % Direct expenditures $1,713,876,200 $1,812,075, % Total economic impact $2,827,895,700 $2,989,923, % Jobs created - direct 24,300 24, % Direct + indirect jobs¹ 32,300 32, % Wages paid² $652,041,900 $673,379, % Taxes paid³ $109,430,100 $112,026, % Tourist Development Tax $20,109,853 $21,115,682⁴ +5.0% ¹All people directly employed by visitor spending + jobs created by induced and indirect effects of direct spending by visitors. ²Wages just for direct jobs created by visitor spending. ³Sales, use, and property taxes. 17 ⁴Estimate for FY 2017.

18 KPIs Visitors Staying in Paid Accommodations Metrics FY2016 FY2017 Change¹ Visitors 1,167,350 1,216, % Direct expenditures $1,025,100,500 $1,176,505, % Total economic impact $1,691,415,875 $1,941,233, % Room nights generated 2,618,965 2,639, % Occupancy 72.2% 74.9%² +3.7% Room rates $ $184.02² +4.5% RevPAR $ $141.26² +8.2% Spending/person/day $141 $ % ¹Percentage increases from FY2016 to FY2017 were impacted by significant growth in day trippers World Rowing Championship and other special events resulted in comparatively strong day tripper numbers in FY2017. ²FY2017 figures weighted by season, e.g., quarter 2, the busiest season is weighted more heavily than quarters 1 and 4. Weighting more accurately reflects annual data, but results in RevPAR figures that do not exactly equal ADR times occupancy rate. 18

19 Sarasota Visitor Profile 19

20 Lodging Hotel 37% VFRs 24% Condo, rental house, B & B, etc. 24% Personal condo/timeshare 12% Campground 2% Marina 1% 20

21 Purpose of Trip Relax & unwind 75% Visit with friends and relatives 37% Family vacation 19% Special event 12% Business travel/conferences/meetings 9% Sporting event 8% 21

22 Information Sources for Planning Trips Previous visit 48% Recommendation 44% Internet 44% Conference, business 5% Brochures 2% Print media 2% Broadcast media 1% AAA 1% 22

23 Internet Information Consulted VisitSarasota.com 30% VisitSarasota.com/mobile site 26% Trip Advisor 22% Personal social media 12% Other Sarasota websites 10% Destination social media 10% Hotels.com 23 9%

24 Sarasota Messaging Seen Total Internet 61% Total Traditional Media 33% Travel Guides/Visitor Guides/Brochures 25% AAA 2% Influenced by Sarasota Messaging 74% 24

25 Trip Experience Very Satisfied + Satisfied 93% Recommend Sarasota to friends 85% Plan to Return to Sarasota 81% 25

26 Attractions 26

27 Activities Relaxing Dining Out Beach Visiting friends & relatives 27

28 Methodology The economic impact of tourism on Sarasota County is based on data collected from 3,014 visitors to Sarasota County. Interviews were conducted throughout the county. Total economic impact of tourism on Sarasota County is a function of direct spending by visitors in Sarasota County & induced + indirect effects of this spending. Indirect effects are increased business spending resulting from tourism dollars. Induced effects are increased household spending resulting from tourism dollars. Downs & St. Germain Research uses IMPLAN¹ to calculate the economic multiplier for Sarasota County (1.65). ¹Over 1,500 organizations use IMPLAN, which has been used to model the economic impact of tourism since Agencies such as FEMA, EPA, Federal Reserve Bank, and Bureau of Land Management use IMPLAN. 34

29 Visit Sarasota County Economic Impact of Tourism: Fiscal Year 2017 Presentation