LONG ISLAND’S VISITOR ECONOMY GENERATES $5.9 BILLION IN 2017
NYS Traveler Spending Report Showcases a 4.0% Increase for the Region
LONG ISLAND, NY (August 7, 2018) – According to the 2017 New York State Economic Impact of Tourism report, Long Island’s visitor economy expanded with 4.0% growth in traveler spending, reaching a new high of $5.9 billion in economic impact from this critical industry for the region.
“The work of this industry continuously proves vital to the economic growth of Long Island, generating $722 million in state and local tax revenues and supporting 81,707 local jobs,” said Kristen Jarnagin, President & CEO of Discover Long Island. “2017 traveler spending exceeded expectations and 2018 is on pace to be our best year since 2001. Were it not for these tourism-generated revenues produced from visitors to our region every Long Island household would have to pay an additional $776 in taxes per year, so it’s crucial that we remain relevant and focused on attracting lucrative travelers to our destination.”
Long Island was ranked second in traveler spending, after New York City, among 11 state regions. New York City, Long Island and Hudson Valley together comprise nearly 80% of New York State traveler spend.
“Long Island’s tourism industry is a critically important driver for our region,” said Steve Bellone, Suffolk County Executive. “With over nine million visitors annually enjoying our beaches, parks, vibrant downtowns, accommodations and attractions, tourism not only showcases the wonderful quality of life that we all enjoy as residents, but it also serves as the lifeblood for many of our small business owners.”
“Long Island tourism is an invaluable component of our region’s economic development and we are proud to support the work of this industry and its advocates,” said Nassau County Executive, Laura Curran. “The visitor economy generates significant revenue for the state, the County and our local businesses, so these increases bode well for all Long Island residents.”
Overall New York State’s tourism economy reached a record high in 2017, resulting in $67.6 billion in traveler spending. This annual study is commissioned by Empire State Development by Tourism Economics, an Oxford Economics company. Oxford Economics is one of the world’s leading providers of economic analysis, forecasts and consulting advice.
ABOUT DISCOVER LONG ISLAND:
Discover Long Island is the official regional organization charged with furthering the $5.9 billion tourism economy. The organization contributes to the economic development and quality of life on Long Island by promoting the region as a world-class destination for visitors, meetings and conventions, trade shows, sporting events and related activities. For more information, please call 631-951-3900 or visit DiscoverLongIsland.com.