GRCVB’s 2023-2024 Annual Report was released last week, with the online report including summaries from each of the Bureau’s departments (Sales, Destination Services, Marketing and Communications, Public Relations and International Tourism, Sports Marketing, Administration and Destination Data and Technology) on their progress over the last fiscal year.

You can read the full report here, but for a quick overview of 2023-2024, the following is an excerpt from the introductory letter by the chair of the GRCVB Board of Directors, Dr. Valerie Hillings:

"Fiscal year 2024, my term as CVB board chair, saw a record-setting performance in annual tourism objectives countywide and marked success for the long-term destination management work of CVB leadership, as we reached the halfway point in progress toward Destination 2028 (the 10-year implementation of Wake County’s Destination Strategic Plan by the Bureau, partners and allies).

"With the release of this Annual Report, we are thrilled to announce that Wake County tourism has reached the highest levels on record across all measured objectives:

  • 18.5 million people visited in calendar year 2023;
  • these visitors spent $3.2 billion on their trips; and
  • $307 million was added to local/state tax coffers as a result.

"Direct spending by Wake County visitors generates two streams of local tax revenue (comprising Raleigh and Wake County’s Interlocal Fund), which contribute to the CVB budget and the Bureau’s work attracting future visitation. During 2023-2024, these two tourism-related taxes raised $84.9 million ($39.6 million in hotel occupancy tax collections and $45.3 million in food/beverage tax collections), a new record and 6.1% increase year-over-year.

"The CVB, with its budget of $11.3 million, was responsible in 2023-2024 for direct economic impacts of $217 million based solely on new convention and sports group bookings made in Wake County, representing a 19-to-1 return on budget invested. Flourishing leisure visitation to our area also generated economic impacts many times over the annual marketing budget."

Click here for more resources regarding the Annual Report: