San Antonio Missions National Historical Park attracted 1.2 million visitors in 2023, generating $95 million in spending and supporting 1,480 local jobs. This economic impact reinforces the park’s role as a key driver of both tourism and economic growth in the region, contributing significantly to the overall economic output of the U.S.
The World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Trends Report reveals the US as the world’s most powerful travel and tourism market, contributing $2.36 trillion to its economy in 2023. However, China is poised to overtake the US in the next decade, while India is expected to rise to the fourth position. The report highlights strong growth in travel and tourism investments and spending globally, with a focus on sustainability and inclusivity.
The Olympic Games Paris 2024 witnessed a significant surge in spending by visitors from Asia Pacific, particularly Australia, China, and Hong Kong. Visa’s data reveals a remarkable 100% increase in spending by Australians, over 80% by Mainland Chinese, and over 70% by Hong Kong residents. The Games also propelled the adoption of contactless payments, with over 80% of visitors using this method, and boosted spending at small and medium-sized businesses by fivefold. This economic impact extended beyond France, with increased travel and spending observed in other European countries.
Oneida County in Central New York has emerged as a leading tourism destination, contributing significantly to New York State’s record-breaking tourism year in 2023. The county generated $3.7 billion in direct tourism spending, boosting the local economy and creating thousands of jobs.
Turkish tourism is facing a crisis as soaring prices are driving away visitors. Tourists, particularly from the UK, are reporting empty beaches and exorbitant costs, fearing that Turkey will lose its appeal as an affordable holiday destination. This trend, coupled with new regulations and local issues, could have significant consequences for Turkey’s economy, which heavily relies on tourism.
As the 2024 election approaches, the Biden-Harris administration has urged the DEA to make a decision on cannabis rescheduling. However, experts like Barbara Fox, CEO of Cannabiz Supply, believe that any decision made before the election could be perceived as politically motivated, potentially delaying the process. Fox also discusses the potential economic implications of rescheduling, including increased mergers and acquisitions and greater access to traditional banking.
The UEFA EURO 2024 football tournament held in Germany generated a remarkable €7.44 billion in economic impact, highlighting the power of sports tourism and the vital role of international events in boosting a nation’s visibility and economy. The event attracted millions of visitors, fueled spending on travel, accommodation, and entertainment, and generated significant media exposure, leaving a lasting impact on tourism and solidifying Germany’s position as a premier travel destination.
The Pacific Tourism Organisation (SPTO) has released its 2023 International Visitor Survey for Tonga, showcasing positive tourism trends and highlighting the significant economic impact of the industry on the island nation. The survey reveals key factors influencing visitor decisions, including Tongan hospitality, diverse activities, and a clean environment. In 2023, Tonga welcomed approximately 55,749 international visitors, contributing an estimated $69 million to the local economy.
Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC) have locked out their Canadian workers, impacting over 10,000 employees. This unprecedented rail stoppage threatens to cripple the Canadian economy and disrupt trade with the United States, causing significant disruptions to the transportation of essential goods.
Jordan’s tourism sector is experiencing a significant downturn due to growing regional fears and instability. This decline in tourist arrivals is causing economic hardship for businesses and local communities, prompting the government and tourism operators to implement recovery measures. However, the future of the industry remains uncertain as it struggles to regain tourist confidence.
