An aerial view of the newly expanded Buffalo AKG Art Museum marks a remarkable milestone for the Greater Niagara region’s tourism industry in 2023, surpassing pre-pandemic levels.... CLICK TO READ THE FULL NEWS HERE▶▶
Inflation and New Visitors Drive Growth
Tourism Economics reports record-breaking tourism numbers, attributing the 11% increase in spending across Erie County and the Greater Niagara region to inflation and a surge in new visitors.
Tax Revenue and Economic Impact
The tourism industry plays a vital role in the economy, with taxes from tourism helping to reduce the average household’s tax bill in the region.
Industry Resurgence
Tourism officials have observed a resurgence in the region, with metrics indicating a significant rise in hotel rates and spending on food, beverages, and retail outlets.
Factors Driving Growth
Factors such as increased hotel occupancy, business traffic, and a strong meetings and conventions year have contributed to the spike in tourism numbers.
Expansion and Market Growth
The reopening of the Buffalo AKG Art Museum and outreach to key markets like Chicago, Boston, Philadelphia, and Washington, D.C., have further fueled tourism spending in the region.
Job Market and Income
While jobs in the tourism sector have not yet fully recovered, the industry generated substantial direct and indirect labor income in the Greater Niagara region.
Forecast and International Influence
Forecasts predict a continued upward trend in tourism numbers, with international tourism expected to rebound fully by 2026, signaling promising growth for the industry.
Impressive Growth Statistics
Visitor spending in the Greater Niagara region reached $3.758 billion in 2023, indicating an 11% growth compared to the previous year, with Erie County accounting for a significant portion of direct tourism spending.
Statewide Impact
New York State also saw a notable increase in tourism spending, contributing to substantial state and local tax revenues, showcasing the industry’s economic significance.
Governor’s Remarks
Governor Kathy Hochul lauds the state’s record-breaking tourism numbers, emphasizing the state’s success in attracting visitors and driving economic growth.
