Tourism is vital to the health and well-being of Wake County’s economy.
We, of course, want to offer genuine hospitality and unique and enriching experiences to our visitors, and we’re delighted they have chosen to spend time here. But tourism also represents an indispensable part of Raleigh, N.C.’s financial well-being. (And different from other forms of economic development work—tourism’s financial impacts can be felt tomorrow and the next day; in other words, it doesn’t take years for the returns on invested resources to become clear.)
We will let the numbers speak:
Visitors to Wake County spend money, to the tune of $2.7 billion in 2018 (that’s billion with a B). That spending generated $268 million in state and local tax revenues ($131 million in state tax revenue and $137 million in local tax revenue).
That spending or related revenue funds many of the amenities that we cherish in Wake County and that help make this a great place to live and work. It also helps county households save considerable dollars on their residential taxes each year (an average of $700 in 2018) and directly supports the employment of over 27,000 in the hospitality sector.
Tourism is a win/win/win proposition all the way around in Wake County. And as its champion, the Greater Raleigh Convention and Visitors Bureau wants partners, business/corporate/government leaders and residents to understand why.