Outdoors Snake
Why Travel and Tourism Matters

WHY TRAVEL AND TOURISM MATTERS

The travel and tourism industry in Chesapeake, Virginia, is an economic engine with an annual impact of more than $270 million in revenue.  It employs nearly 3,000 people a year and affects every corner of our local economy.

Chesapeake Tourism would like to share some facts about the industry's economic impact on our economy, state and nation.

Tourism Facts:

  • Travel is among the top 10 industries in 48 states and D.C. in terms of employment.
  • 1 out of every 9 jobs in the U.S. depends on travel and tourism in some form or fashion.  
  •  Since the employment recovery began, the travel industry has added 865,600 jobs and has outpaced job growth in the rest of the economy by 37%.
  • Tourism in the state of Virginia generates nearly $18 billion in visitor spending, supports more than 204,000 jobs and provides $1.3 billion in state and local taxes for communities in the Commonwealth.
  • The Chesapeake Tourism office receives $1 from the occupancy taxes collected every time a hotel room is sold.  Each dollar helps attract meetings, visitors and tourism dollars the benefit the city's economy.
  • Travel and tourism is one of the country's largest employers, supporting 7.4 million workers.  One out of every nine jobs in the U.S. depends on travel and tourism.
  • Every $1 the state of Virginia invests in tourism marketing generates $5 in tax revenue for the Commonwealth.  That's a 5:1 return on investment!
  • Travel & tourism directly generated $141.5 billion in tax revenue for local, state and federal governments.
  • Direct spending by resident and international travelers in the U.S. averaged $2.5 billion a day, $105.8 million an hour, $1.8 million a minute and $29,398 a second.
  • Each U.S. household would pay $1,147 MORE IN TAXES without the tax revenue generated by the travel & tourism industry.