Arizona's Booming Tourism Sector: Revenue Reaches $1 Billion!

[Jared Smith]

BP, more fantastic news below as it relates to real estate investing in Arizona! - Jared

Arizona’s booming tourism sector broke records again last year, with visitors spending $24.4 billion in 2018 and generating more than $1 billion in revenue for the state. In recent years, Arizona has cemented its position as a world-class destination for leisure, recreation, events, conferences, sports and more.

A record 45.4 million overnight visitors came to Arizona last year, up from 43.9 million in 2017, according to a new report from the Arizona Office of Tourism. They spent on average $67 million per day, up eight percent from the previous year’s record-breaking visitor spending total.

Tourism dollars directly supported 192,300 jobs in Arizona — representing $7.4 billion in earnings by Arizona workers. Tax revenues generated by tourism increased 17% over the previous fiscal year to a record total of $1.1 billion.

“Tourism continues to thrive in Arizona, and that benefits every resident in every part of the state,” said Governor Doug Ducey. “Not only does this $24 billion dollar industry provide more opportunities for small business and more jobs for Arizonans, tourism revenues generate more dollars to invest in the things that matter most to Arizonans like education and public safety.”

Background

This year marks the centennial of Grand Canyon National Park, the crown jewel of Arizona’s one-of-a-kind natural landscapes. 6.3 million visitors to Grand Canyon National Park in 2018 spent $947 million in communities near the park, according to a National Park Service report. That spending supported 12,558 jobs in the area and had a $1.2 billion economic impact.

World-renowned sporting events are also a key driver of tourism in Arizona. Arizona is proud to host NFL Super Bowl LVII in 2023, the NBA Final Four in 2024, the Waste Management Open, Cactus League Spring Training and 2020 NASCAR Championship Weekend.

Arizona welcomed 5.8 million international overnight visitors, a 4% increase over the previous year. Visitor numbers increased from both of the state’s top international markets, Mexico (3.7 million overnight visitors) and Canada (962,000 overnight visitors).