Boom Time! For millions of tourists from throughout the world, all roads (and flight paths) lead to Central Florida!
Visit Orlando, Experience Kissimmee, Seminole County and the Central Florida Hotel & Lodging Association released new research by Tourism Economics revealing that Central Florida’s travel and tourism industry reached a new all-time high economic impact of $92.5 billion in 2023—a 5.6% increase over the previous year.
Tourism Economics is an Oxford Economics company focused on combining an understanding of the travel sector with proven economic tools. More than 500 companies, associations and destinations work with Tourism Economics every year as a research partner. Oxford Economics is one of the world’s foremost independent global advisory firms, providing reports, forecasts and analytical tools on 200 countries, 100 industrial sectors and over 3,000 cities.
According to the report, Central Florida’s visitor spending jumped 5.4% in 2023, settling at $58.5 billion from $55.5 billion the previous year. This means that visitors spent more than $160 million daily, reducing the annual tax burden by $7,400 per household in the Orlando region. Of the total visitor spending to the three counties in 2023, 85% was in Orange County, 12% in Osceola and 3% in Seminole County.
“Direct visitor spending in Orlando grew an impressive 5.4%, generating an economic impact equivalent to hosting the NFL Super Bowl nearly twice a week for an entire year,” said Adam Sacks, president of Tourism Economics. “This continued growth highlights Orlando's resilience and appeal, especially in a year marked by heightened competition and a global resurgence in travel demand."
In May, Visit Orlando also announced that Central Florida welcomed 74 million visitors, reaffirming its status as the most visited destination in the U.S. Notably, international visitation surged by 25%, reaching 6 million visitors. Spending by international visitors grew by 29% in 2023, reaching $5.4 billion and accounting for 9% of all spending.
"Tourism is the heartbeat of Central Florida, driving economic prosperity not only for our region but for the entire state, from creating jobs to generating significant tax revenue that supports essential public services,” said Casandra Matej, President and CEO of Visit Orlando. “As we continue to welcome travelers from around the world, we strengthen our local economy and enhance the quality of life for residents across the region.”
Tourism Creates Jobs
The economic impact of Orlando’s tourism industry supported 464,000 community jobs throughout various sectors, which represented a 3% increase from 2022. Of the 464,000, nearly 284,000 were directly employed by the industry, including hotels, restaurants, attractions and more, while the remaining includes a variety of sectors and roles like architectural and interior design, business services, construction, engineering, financial services and transportation. For 2023, the tourism and hospitality industry (direct and indirect) accounted for 42% of all jobs in Orange County, 36% in Osceola and 12% in Seminole County.
“Not only does tourism support our local economy, but more than $27.3 billion in wages and benefits were paid to our local residents in 2023, who work within the hospitality industry. This was a 5% increase year over year and now the hospitality and tourism industry supports nearly 37% of all jobs in the entire Central Florida region,” said Robert Agrusa, President and CEO of the Central Florida Hotel & Lodging Association (CFHLA). “Locally, the average salary for this dynamic industry is at $41K, which is significantly higher than the national average wage of $32K. Secondly, the average salary for hotel and lodging jobs are even higher at $46K in Central Florida, which is also higher than the national average of $45K. Bottom line, the hospitality and tourism industry continues to be the top employer as compared to other essential industries within the region that is creating life-changing careers with significant upward mobility.”
Tourism saves Central Florida residents $7,400
In 2023, state and local taxes collected from visitor activity increased by 5.3%, reaching $6.6 billion. Tourism revenue funds essential services in the region, such as fire and law enforcement personnel, schoolteachers and infrastructure, saving an average of $7,400 per household in taxes.
"Experience Kissimmee is deeply committed to promoting tourism to both international and domestic markets while supporting our local community by creating jobs, improving safety, and infrastructure. By working closely with neighboring counties, we aim to highlight the very best that our region has to offer, ensuring that Central Florida continues to thrive as a premier destination for visitors from around the world,” said DT Minich, President and CEO of Experience Kissimmee.
“These remarkable figures underscore the vital role tourism plays in generating a strong Central Florida economy,” said Jay Zembower, Chairman of the Seminole County Board of County Commissioners. “Seminole County’s commitment to preserving Old Florida experiences, enhancing indoor and outdoor recreational opportunities, and supporting local businesses continues to drive economic growth, and we are proud to contribute to this record-breaking achievement.”
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