VGPS RESEARCH
As part of the Riverside County Grant, Visit Greater Palm Springs is collaborating with Riverside County and North Star agency on a rebranding project. This project will redevelop the Economic Development brand and assets for Riverside County, aiming to develop a pathway to position the county as a competitive destination for business activities to further grow its future and encourage relocation and economic development. The project is expected to be completed by spring 2024.
Because Tourism Business Improvement Districts (TBIDs) are an increasingly important source of marketing funding that enable the cities to compete effectively with regional destinations, Visit Greater Palm Springs partnered with Tourism Economics to conduct a TBID Benefits Study. Below are some key findings from that study:
- VGPS group sales generated $157 million in lodging revenue in 2023.
- In 2023 VGPS leisure marketing activities drove $382 million in lodging revenue.
- Larger hotels and resorts benefitted most from VGPS activities, with 60% of leisure marketing benefits, 100% of group sales benefits, and 72% of overall benefits.
- Short-term vacation rental properties increased their share of generated benefits to 35% of leisure marketing and 25% overall.
- The benefits accrued to TBID properties versus non-TBID properties increased to 87% overall in 2023.
Click HERE to view the full version of the report.
The travel sector is an integral part of the Greater Palm Springs economy. Visitors generate significant economic benefits to households, businesses, and government alike and represent a critical driver of Greater Palm Springs’ future. In an effort to quantify that significance, Tourism Economics has started the data collection process for the 2023 Tourism Economic Impact Study. This is expected to be completed in Q2 2024.
A significant share of visitors to the Coachella Valley stay in short-term vacation rentals (STVRs), and their spending drives much of the local jobs and income. To quantify the economic significance of the short-term vacation rentals in Greater Palm Springs, Tourism Economics has started the data collection process for the 2023 STVR Economic Impact Study. The project is expected to be completed by the end of Q2 2024.
Acrisure Arena is an 11,000-seat multipurpose live entertainment venue built for AHL hockey, live music, and events. The arena opened in December 2022. During the first year of operations, the arena attracted attendees from around not just the region but also the country, which drove significant economic activity that supported businesses, households, and government finances in Greater Palm Springs. In an effort measure that economic impact, VGPS will be conducting an Economic Impact Study of the Arena. This study is expected to be completed by Q2 2024.
As a reminder, you can explore prior VGPS research and the latest industry trends and updates on our website’s Research & Reports page. This dedicated section serves as a valuable resource, offering industry insights, market shifts, and innovative practices- allowing stakeholders the ability to strategically adapt their offerings, marketing strategies, and infrastructure to meet consumer demands in our ever-evolving global market.
For more information about Visit GPS research, please contact:
Rebecca Kirkpatrick
Analytics Manager
rebecca@visitgreaterps.com | 760.969.1325
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