The Greater Lansing Convention and Visitors Bureau (GLCVB), along with Anderson Economic Group, is pleased to announce its findings from an in-depth study in a report commissioned by the GLCVB entitled: Tourism Related Benefits in Greater Lansing’s Economy.
Tourism is an often overlooked portion of the Greater Lansing economy. The reality, however, is that the industry generates over $682 million in spending at local businesses and employs nearly 11,000 local residents. This report presents the findings of the study and provides a measuring stick by which continued programs and investments can be evaluated. The report includes 2018 data on the spending patterns of both day visitors and overnight guests to the region, and their impact on local businesses like restaurants, retailers, hotels, state sales tax and more.
“Our hope for this report is to take these up-to-date numbers and continue to educate community stakeholders on the importance and impact of tourism in our region,” said Jack Schripsema, President and CEO of the GLCVB. “In 2015 the region hosted 4.8 million visitors per year and in 2018 we welcomed over 5.3 million visitors annually. The tourism industry is thriving and those 5.3 million visitors to the region have a large impact on the success of local businesses and ultimately the quality of life for area residents.”
The study’s findings showed that of the $682 million spent by tourists annually at businesses in Greater Lansing, $490 million is taxable under Michigan’s sales and use tax. With Michigan’s sales and use tax rate at 6%, tourism spending in Greater Lansing contributed more than $29 million to the State of Michigan in sales tax revenue.
Additionally, the multiplier effect of the $682 million in direct spending resulted in more than $1.1 billion in regional economic impact and $288 million in additional income and earnings for workers in Greater Lansing in 2018.
For more information please contact Jack Schripsema, CTA, GLCVB President and CEO at firstname.lastname@example.org.