Colorado's Strong Tourism Industry Continues to Grow

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DENVER ~ In 2023, Colorado's tourism industry continued to show strong and steady growth, according to the annual research reports released by the Colorado Tourism Office (CTO). The reports, which were published by the CTO, a division of the Colorado Office of Economic Development and International Trade (OEDIT), revealed that the state saw a total of $28.2 billion in travel spending and 93.3 million visitors in 2023.

The Dean Runyan report showed a 3.9% increase in travel spending from $27.2 billion in 2022 to $28.2 billion in 2023. This growth was largely driven by the Denver Metro Area and Front Range counties. The Longwoods Travel USA Report also indicated a 3.6% increase in visitation to Colorado, with a total of 93.3 million visitors in 2023 compared to 90 million in 2022.

Governor Polis expressed his excitement about the state's thriving tourism industry, stating that "Colorado's outdoor recreation, thriving communities, cultural heritage, and booming industries continues to draw millions of visitors to our state each year, strengthening local economies in all four corners of the state." He also noted that every day is a great day to celebrate Colorado's world-renowned and growing tourism industry.

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The reports also highlighted the positive impact on employment and tax revenue for the state. In 2023, direct travel-generated employment created approximately 9,450 new jobs, totaling 187,710 jobs overall – a 5.3% increase from the previous year. The Accommodations and Food Services sector saw significant growth with an addition of 3,320 jobs (a 3.3% increase), while the Arts, Entertainment and Recreation sector grew by 8.7%, creating an additional 3,760 jobs.

Overnight business trips also saw an increase of 7% from the previous year. The top three activities and experiences for overnight visitors in 2023 were shopping, sightseeing, and attending a celebration.

Timothy Wolfe, Director of the Colorado Tourism Office, expressed his optimism about the state's tourism industry, stating that "we're encouraged by the consistent growth we saw in 2023, with Denver and the Front Range playing key roles." He also mentioned that their focus for 2024 is to continue highlighting Colorado's diverse attractions, welcoming more international visitors, and supporting all destinations across the state.

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Other notable findings from the reports include:

- 85% of overnight travelers were repeat visitors in 2023.

- 62% of overnight travelers had visited Colorado in the past 12 months.

- The average length of stay for overnight visitors was 3.5 nights.

- Direct travel-generated earnings grew by 13.3%, from $8.7 billion in 2022 to $9.9 billion in 2023.

- Earnings from Accommodation & Food Services grew by 7.9%, from $4.1 billion to $4.4 billion.

- Travelers spent approximately $13.9 billion in the Denver region alone in 2023, making up almost half (49.3%) of the statewide total.

In addition to promoting economic development, the CTO also focused on destination stewardship in 2023. This initiative aims to balance the quality of life for residents and visitor experience while enhancing Colorado's environment, cultures, and communities. The output will include a statewide destination stewardship plan as well as eight regional plans, which will be available to the public in September 2024.

To view the full reports for Colorado Travel Impacts 2023 (Dean Runyan Associates) and Colorado Travel Year Report 2023 (Longwoods International), visit https://oedit.colorado.gov/tourism-research .

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