2017 Annual Report

Regional Economic Impact Tourism Travel spending in the region also supports individual localities and the state fiscally. Local travel related tax revenue in 2016 was nearly $26 million and state revenue was over $46 million. These both reflect a steady trend of increased tax revenues from travel. 4

Travel related tax revenues (millions)

State

local

The increase in travel related local and state tax receipts mirrors the upward trend in travel expenditures. These increases in local tax receipts are influenced by the increase in local tax collection through food service, admissions, and lodging taxes. The increase in tax receipts at state, county, and local levels of government show the return on invest for communities that grow their creative economy.

4 Annual travel related tax receipt estimates taken from the Virginia Tourism Corporation Economic Impact of Domestic Travel in Virginia report