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The Economic Impact of Tourism and the I Love New York Campaign

Executive Summary

November 2006

The Impact of Travel and Tourism on New York State

Tourism Sales

Tourism sales, or visitor expenditures, tallied $43.4 billion in 2005.

Retail & Service Stations 20%

Transport 21%

Recreation 10%

Lodging 27% Food Service 22%

Tourism Employment

Tourism directly generates 4.5% of the state's employment base. With the inclusion of indirect and induced impacts, tourism is the catalyst for 707,266 jobs, or 6.7% of all non-farm employment.

Tourism Share of Employment, 2005 Tourism Direct Tourism Indirect Tourism Induced Total Tourism 478,759 101,317 127,190 707,266 Share 4.5% 1.0% 1.2%

1%

Tourism Employment Share of Total Non-Farm Employment, 2005

7% 6% 5% 4% 3% 2% Induced Indirect Direct

6.7%

0%

Total Employment

10,564,487

Regional Tourism Sales

New York State is divided into 11 economic regions. New York City is the largest single tourism region with 62% of state tourism sales. New York City, Long Island and Hudson Valley together comprise nearly 80% of New York State tourism sales.

Tourism Direct Sales, 2005

Finger Lakes 5% Niagara 4% Thous. Islands 1% Adirondacks 2% Cen. Leath. 3% Capital-Saratoga 3% Catskills 2% Hudson Valley 7% Long Island 10%

ChautauquaAllegheny 1%

New York City 62%

Relative Importance of Tourism

Tourism Share of Regional Employment 2005

20.0% 18.0% 16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% Thous. Islands Finger Lakes Long Island Capital-Saratoga New York City Cen. Leather. Catskills Niagara Hudson Valley Chaut.-Allegheny Adirondacks Total Tourism Direct Tourism

Tourism is an integral part of every region's economy, generating at least 6% of employment. Tourism is most important to the Catskills and Adirondacks, generating 17% and 19% of total employment, respectively. Tourism generates nearly 12% of employment in Central Leatherstocking and ChautauquaAllegheny.

The Impact of the I Love New York Campaign

Visitor Spending Generated by the State's ILNY Campaign in 2005

Regional Visitor Spending Generated by ILNY

Millions $300 $250 Day $200 $150 $100 $50 $Greater Niagara Thous. Islands Cent. Leather. Capital-Saratoga Finger Lakes Catskills Long Island Chaut.-Allegheny New York City Hudson Valley Adirondacks Overnight

$1.6 billion was spent by travelers in New York State in response to the I Love New York campaign 84% of this spending was by overnight visitors New York City, the Adirondacks, and the Finger Lakes regions benefited the most in absolute terms.

Share of Visitor Spending Generated by the State's ILNY Campaign in 2005

Share of Visitor Spending Generated by ILNY

12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% Greater Niagara Finger Lakes Capital-Saratoga Thous. Islands Long Island Hudson Valley New York City Cent. Leather. Catskills Chaut.-Allegheny Adirondacks

2.1% of all visitor spending in NYS was driven by the ILNY promotion. The Adirondacks and Thousand Islands regions benefit the most from the campaign as a share of total visitor spending. Nearly 12% of their tourism market is driven by I Love New York. Less than 1% of NYC tourism is driven by the campaign.

Taxes Generated by the State's ILNY Campaign

Taxes Generated by ILNY

Millions $20 $18 $16 $14 $12 $10 $8 $6 $4 $2 $Greater Niagara Thous. Islands Catskills Cent. Leather. Chaut.-Allegheny Capital-Saratoga Finger Lakes Long Island New York City Hudson Valley Adirondacks State Tax Impact Local Tax Impact

$106.6 million in taxes were generated by the ILNY campaign. 56% ($60.2 million) of this sum is local taxes. 44% ($46.4 million) of this sum is state taxes.

Employment Generated by the State's ILNY Campaign

Employment Generated by ILNY

3,500 3,000 2,500 2,000 1,500 1,000 500 Greater Niagara Thous. Islands Catskills Capital-Saratoga Cent. Leather. New York City Chaut.-Allegheny Hudson Valley Finger Lakes Long Island Adirondacks

19,619 jobs (full-time equivalent) were generated by the ILNY campaign. The most jobs were generated in the Finger Lakes, Niagara, and the Adirondacks. 2.8% of tourism employment is sustained by the campaign.

Impact Distribution of State's ILNY Campaign

ILNY-Generated Tourism Spend Distribution

New York City 17% Chaut.Allegheny Greater Niagara 3% 10%

Long Island 9%

Finger Lakes 13%

17% of the campaign's spending impact was in NYC, but only 11% of the jobs impact was in the city. The Finger Lakes region was top employment beneficiary of the campaign, followed by Greater Niagara and the Adirondacks. ILNY-Generated Employment Distribution

Chaut.New York City Allegheny 4% 11% Long Island 7% Hudson Valley 4% Catskills 8% Finger Lakes 16%

Hudson Valley 6% Catskills 8% Capital-Saratoga 10% Cent. Leather. 6%

Thous. Islands 5%

Greater Niagara 13%

Adirondacks 13%

Capital-Saratoga 12% Cent. Leather. 7%

Thous. Islands 5% Adirondacks 13%

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