The travel and tourism industry is a vital part of the Quad Cities regional economy. Revenues from visitors and non-residents generate significant economic benefits for households, businesses and the public sector and are a key driver of the future of Quad Cities. How critical? Even in 2020, tourism supported 8,000 jobs and produced a total impact of $ 958.76 million in Quebec. This is a 21.5% year-over-year decline, underscoring the value of tourism and its need for recovery.
âTourism and non-resident incomes are producing positive results for our regional economy,â said Dave Herrell, President and CEO, Visit Quad Cities. âOur destination’s ability to regain the momentum we have had since 2019 is crucial. In close collaboration with our state partners and Tourism Economics, we expected a sharp decline in 2020 but have exceeded our forecasts. Now, we must continually align with our stakeholders as we emerge from the crisis and increase the urgency of destination marketing if QC is to compete for business and leisure travel. “
These tour impacts result from overnight stays, day trips, meetings, conventions, sporting events and group tours.
To quantify the economic importance of tourism in Iowa and Illinois, the Iowa Tourism Office (a division of the Iowa Economic Development Authority) and the Illinois Office of Tourism (a division of the Department of Commerce and Illinois Economics) contracted with Tourism Economics, the leading authority on travel and tourism research, to prepare a comprehensive model detailing the far-reaching impacts of visitor spending. The results of these studies show the scale of the industry in terms of visitor spending and the total tax impact generated. The county-by-county analysis is part of the Tourism Economy Report that is released by the two states to its destination marketing partners.
Prior to 2020, a different economic model was used by the two states to calculate the economic impact of tourism, and the results used figures generated by the US Travel Association’s Travel Impact Model (TEIM). The new data collected by the two states deepens the economic impact of tourism by measuring national and international visits and various impacts that affect the economy of a destination like the Quad Cities region. The economics of tourism will be used by both states as well as the US Travel Association to report on the economic impact of tourism.
Visit Quad Cities is a member of the US Travel Association and uses its data along with other business information such as the Event Impact Calculator (EIC) from Destination International, STR, Inc. and DataFY to measure and analyze performance. tourist in the market.
Summary of the regional economy of Quad Cities visitors
Category 2019 2020
Total visitor spending $ 1.22 billion $ 958.76 million
Total local taxes generated $ 74.79 M $ 65.14 M
Total government taxes generated $ 76.48 M $ 62.87 M
The impacts measured and recorded by Tourism Economics include:
- Direct impact – refers to the impacts on business sales, jobs, income and taxes created directly by spending by visitors to a destination within a discrete group of tourism-related sectors (e.g., accommodation, catering, recreation, retail and transportation).
- Indirect impact – refers to the impacts created by the purchase of goods and services used as inputs (e.g. food wholesalers, utilities, business services) on production by directly affected tourism-related sectors (i.e. i.e. the economic effects arising from business-to-business purchases in the supply chain).
- Induced impact – refers to the impacts created by spending in the local economy by employees whose salaries are generated directly or indirectly by spending by visitors.
- Use – refers to jobs supported directly and indirectly by visitor activity (including part-time and seasonal work). A job is defined as a person working at least one hour per week for fifty weeks during the calendar year.
- Personal income – refers to wages, salaries, owner’s income and benefits financed by visitor expenses.
- Added value (GDP) – designates the economic valuation that a company brings to its products or services before offering them to its customers.
- Local taxes – refers to municipal and regional taxes generated by visitor spending. This includes local sales, income tax, tourist tax, user fees, licenses, and other revenue streams from local government authorities, from transportation to sanitation to general government.
- State taxes – refers to the State tax revenue generated by visitor spending. This will include sales, income tax, corporate tax, user fees, and other state government assessments.
More than 300 leading companies, associations and destinations work with Tourism economics every year as a research partner. Their partner, Oxford Economics, is a world leader in forecasting and quantitative analysis. Tourism Economics’ global customer base includes more than 1,500 international companies, financial institutions, government organizations and universities. Tourism Economics operates from regional headquarters in Philadelphia and Oxford with offices in Belfast, Buenos Aires, Dubai, Frankfurt, London and Ontario.
Sean Leary is an author, director, artist, musician, producer and entrepreneur who has written professionally since his debut at the age of 11 in the pages of the Comics Buyers Guide. A graduate with honors from the University of Southern California’s master’s program, he has written more than 50 books, including best-selling books The Arimathean, Every Number is Lucky to Someone, and We Are All Characters.