Rancho Mirage, CA – (July 20, 2016) – The Greater Palm Springs Convention & Visitors Bureau (CVB) has released the “2015 Report on the Economic Impact of Tourism,” showcasing the key impact tourism has on the destination. The study conducted by Tourism Economics on behalf of the CVB is a comprehensive analysis of visitor spend and its impact on the Coachella Valley for 2015.
“If tourism could be defined as a single industry, it would be the largest employer in Greater Palm Springs,” said Scott White, CEO and President of Greater Palm Springs CVB. “Jobs supported by tourism in the region span every sector of the economy, either directly or indirectly.”
The 2015 report follows the findings of a similar study in 2013. The key findings reveal dramatic increases over 2013 in nearly every sector of tourism in Greater Palm Springs. In lodging revenue alone, the Greater Palm Springs saw a 16.8 percent increase in the last two years.
Other key results reveal that visitor spend is up by 10.9 percent with nearly 13 million visitors spending $5 billion, which generated $6.4 billion in total business sales in 2015. The report also reveals that 49,572 jobs—or one in every four jobs --were sustained by visitors to Greater Palm Springs in 2015. The study reports that each household would need to pay $3,651 annually to maintain the current level of government services in the absence of state and local taxes generated by tourism.
The report also highlights the economic impact of the growth of major events in Greater Palm Springs. The 2015 BNP Paribas Open tennis tournament drew a record 456,672 fans to the valley, breaking all attendance records. In 2015, the Coachella Valley Music and Arts Festival and Stagecoach Country Music Festival combined drew more than 245,000 to the destination and are projected to have a regional impact to exceed $403 million in 2016.
“With this in-depth understanding of the importance of tourism on the local economy, businesses are better able to make crucial economic decisions now and in future planning,” said White. “The report confirms that the visitor economy is expanding in Greater Palm Springs and continues to generate greater business sales, employment, income and tax revenues.”
The “2015 Report on the Economic Impact of Tourism” is available online at www.visitgreaterpalmsprings.com/partners/reports-and-agendas
Greater Palm Springs Convention & Visitors Bureau
The Greater Palm Springs Convention and Visitors Bureau (CVB) is the official tourism agency for the entire Coachella Valley, providing sales, marketing and promotional efforts targeted to potential leisure and convention group markets. The CVB serves more than 1,300 business partners throughout Riverside County’s nine-city region of Palm Springs, Desert Hot Springs, Cathedral City, Rancho Mirage, Palm Desert, Indian Wells, La Quinta, Indio and Coachella
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