Vermont tourism hits 4 billion USD, A significant milestone

In 2023, Vermont's tourism sector achieved a significant milestone, with visitor spending reaching a record $4 billion, as reported by the Vermont Department of Tourism and Marketing (VDTM).

This remarkable figure underscores the state's enduring appeal to travelers and its robust economic health.

Visitor Statistics and Economic Contributions

The year saw approximately 15.8 million visitors to Vermont, whose expenditures encompassed various sectors:

These spending patterns highlight the diverse attractions and services that Vermont offers to its visitors.

Impact on State Economy and Employment

Visitor spending in 2023 accounted for 9.3% of Vermont's Gross Domestic Product (GDP), a figure that significantly surpasses the national average of 3.0% for state contributions from tourism. This substantial contribution underscores the pivotal role tourism plays in Vermont's economic framework.

The tourism industry also supported 31,053 jobs, representing 9% of the state's workforce. These positions span various sectors, including hospitality, food services, retail, and entertainment, reflecting the industry's extensive influence on employment.

Tax Revenue and Household Benefits

In terms of fiscal contributions, visitor spending generated approximately $282.3 million in state and local taxes in 2023. This revenue is equivalent to about $1,048 per Vermont household, illustrating the direct financial benefits that tourism imparts to residents.

Insights from State Officials

County-Level Economic Impact

The report also provided insights into regional economic contributions. For instance, visitors to Chittenden County spent over $1 billion in 2023, underscoring the area's significant draw for tourists. In Windsor County, the tourism sector supported 10% of local jobs, highlighting the industry's importance in sustaining regional employment.

Outdoor Recreation: A Key Driver

Outdoor recreation remains a cornerstone of Vermont's tourism appeal. In 2023, the sector contributed $2.1 billion to the state's economy, accounting for 4.8% of Vermont's GDP. This achievement places Vermont second nationally, behind only Hawaii, in terms of outdoor recreation's contribution to state GDP. Activities such as skiing, snowboarding, hiking, and fishing continue to attract visitors, bolstering both the tourism industry and the broader economy.

Future Outlook

The VDTM plans to continue monitoring tourism trends and will release a follow-up report for the 2024 calendar year by mid-2025. This ongoing analysis will provide valuable insights to inform strategies aimed at sustaining and growing Vermont's tourism sector.

In conclusion, the 2023 data underscores tourism's vital role in Vermont's economic landscape. The industry's contributions to GDP, employment, and tax revenues highlight its significance, while the state's diverse attractions and commitment to delivering quality visitor experiences position it well for continued success in the tourism sector.