The Economic Impact of Tourism in North Carolina - Tourism Satellite Account Calendar Year 2014

Sep 18, 2026

Uploaded by Rowan

The document quantifies the economic impact of tourism in North Carolina for calendar year 2014 using a Tourism Satellite Account framework. It reports total tourism demand of $27.3 billion, up 5.2%, and direct tourism GDP of $10.8 billion, up 5.8%. It also summarizes employment effects, with 406,577 jobs supported, and details tax generation totaling $3.2 billion in state and local taxes and $3.3 billion in federal taxes.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages29

Reading Time1 h 13 min

AccessFree to download

Tourism demand and key results

Tourism Satellite Account concepts

Why quantify the tourism economy

Challenges in measuring tourism

The Tourism Satellite Account

Benefits of a TSA

Detailed results: Tourism demand (spending)

The Economic Impact of Tourism in North Carolina Tourism Satellite Account Calendar Year 2014 􀁺 Total tourism demand tallied $27.3 billion in 2014, expanding 5.2% . This marks another new high for the North Carolina tourism sector and the fifth consecutive year of growth. 􀁺 The direct GDP of the tourism sector grew 5.8% to $10.8 billion in 2014. 􀁺 Tourism demand sustained 406,577 jobs in 2014, including direct, indirect, and induced impacts. 􀁺 9.2% of all jobs* in the state are directly or indirectly sustained by tourism activities. This marks a steady increase in share since 2008 (8 .6%) . 􀁺 Including indirect and induced impacts, tourism in North Carolina generated $3.2 billion in state and local taxes and $3.3 billion in Federal taxes in 2014. * Compared to BEAWage and Salary Employment, SA25N 2 Important definitions 1. Total Tourism Demand: Includes visitor spending plus other spending streams in support of the traveler industry. This includes government spending and capital investment in support of tourism. 2. Tourism Industry GDP: Measures the value of production of “tourism characteristic industries” on behalf of travelers. This concept measures only the direct impact of the travel industry. 3. Tourism Economic Impact: Measures the full economic impacts of tourism demand, including indirect and induced impacts. 3 Illustrating the concepts ACCOMODATION CATERING, ENTERTAINMENT RECREATION, TRANSPORTATION &OTHER TRAVEL RELATED SERVICES PRINTING/PUBLISHING, UTILITIES FINANCIAL SERVICES, SANITATION SERVICES FURNISHINGS AND EQUIPMENT SUPPLIERS, SECURITY SERVICES, RENTAL CAR MANUFACTURING, TRANSPORTATION ADMINISTRATION, TOURISM PROMOTION, SHIP BUILDING, AIRCRAFT MANUFACTURING, RESORT DEVELOPMENT, GLASS PRODUCTS, IRON/STEEL Travel & Tourism Industry ■ The direct effect of visitor spending ■ Focus of Tourism Satellite Account ■ Allows for industry rankings and comparisons Travel & Tourism Economic Impact The flow-through effect of total T&T demand across the economy ■ Expands the focus to measure the overall impact of T&T on all sectors of the economy FOOD & BEVERAGE SUPPLY, RETAILERS BUSINESS SERVICES, WHOLESALERS, COMPUTERS, UTILITIES, MANUFACTURERS, HOUSING, PERSONAL SERVICES T&T DIRECT T&T INDIRECT T&T INDUCED 4 Why quantify the tourism economy? 􀁺 By monitoring tourism’s economic impact, policy makers can make informed decisions regarding the funding and prioritization of tourism development. 􀁺 It can also carefully monitor its successes and future needs. 􀁺 In order to do this, tourism must be measured in the same categories as other economic sectors – i.e. tax generation, employment, wages, and gross domestic product. 5 What is this a challenge? 􀁺 Most economic sectors such as financial services, insurance, or construction are easily defined within a country’s national accounts statistics. 􀁺 Tourism is not so easily measured because it is not a single industry. It is a demand-side activity which affects multiple sectors to various degrees. 􀁺 Tourism spans nearly a dozen sectors including lodging, recreation, retail, real estate, air passenger transport, food & beverage, car rental, taxi services, travel agents… 6 The Tourism Satellite Account • The TSA was conceived by the UN World Tourism Organization and has since been ratified by the UN, Eurostat, and OECD. • The standard has been adopted by over fifty countries around the world. • The TSA deals with the challenge of measuring tourism in two important ways: 1. Defines the tourism economy 2. Provides methodology for calculating tourism GDP ina way that is consistent with economic accounts 7 Benefits of a TSA • Enables comparisons of the importance of tourism to other sectors of the economy in terms of GDP, employment, and income • Allows for benchmarking to other destinations • Tracks the economic contribution of tourism over time • Monitors strength by tracking capita

FAQs

What were North Carolina’s total tourism demand results in 2014?

Total tourism demand reached $27.3 billion in 2014, expanding 5.2% and marking continued growth for the sector.

How did direct tourism GDP perform in 2014?

Direct tourism GDP grew 5.8% to $10.8 billion in 2014.

How many jobs and how much tax revenue did tourism generate in 2014?

Tourism sustained 406,577 jobs in 2014 and generated $3.2 billion in state and local taxes and $3.3 billion in federal taxes.

Sep 18, 2026

Uploaded by Rowan