North Alabama tourism thrives in 2023, with visitors spending $4.7 billion, boosting local economies and employment.
A recent study has revealed a surge in tourism in the North Alabama area. The Alabama Tourism Department announced that during 2023, visitors to the 16-county region spent in excess of $4.7 billion, a notable increase of 10.1% from the previous year. This data comes from the “2023 Alabama Tourism Economic Report,” which was conducted using a model developed by Dr. Keivan Deravi, a business economist from Auburn University in Montgomery.
The counties in this region include Blount, Cherokee, Colbert, Cullman, DeKalb, Etowah, Franklin, Jackson, Lauderdale, Lawrence, Limestone, Madison, Marion, Marshall, Morgan, and Winston.
In 2023, tourism spending in North Alabama rose to $4.7 billion from $4.3 billion in 2022. Tourism earnings grew by 7.1%, reaching $1,348,381,321, compared to $1,258,500,183 the previous year. The tourism sector also saw an increase in employment, with 49,523 people working in the industry, up 5.5% from 2022.
Overall, Alabama attracted over 28.8 million visitors in 2023, who collectively spent more than $23.5 billion across the state, a 4.8% increase from 2022. The state retained 33 cents from every dollar spent on travel expenses. Tourism in 2023 also contributed $1.4 billion in state and local taxes.
The report analyzed the financial impact of tourism on Alabama’s economy, looking at aspects such as employment, spending, and tax revenue generation. Dr. Deravi utilized a unique economic model to measure these effects, emphasizing the significant role tourism plays in the state’s economy.
Dr. Deravi highlighted that tourism is crucial for Alabama’s financial health. He pointed out that 75% of the 4% state lodging tax collected from hotel stays is allocated to the state’s General Fund, which the Alabama Legislature uses to provide services. In 2023, this amounted to $86.4 million, which benefited all state residents. Without this revenue, each Alabama household would need to pay an additional $707 in taxes to sustain existing service levels.
The post North Alabama Shatters Tourism Records with Over $4.7 Billion in Revenue appeared first on Travel And Tour World.
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