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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
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.
State
local
Travel related tax revenues (millions)
4
Annual travel related tax receipt estimates taken from the Virginia Tourism Corporation Economic
Impact of Domestic Travel in Virginia report