Tourism Generated Record $36.6 Billion Boost to Los Angeles Economy in 2018

Property of Discover Los Angeles
[[{"fid":"631560","view_mode":"media_original","fields":{"format":"media_original","field_file_image_alt_text[und][0][value]":"","field_file_image_title_text[und][0][value]":"","field_media_alt_text[und][0][value]":"","field_media_title[und][0][value]":"","field_tags[und]":"","field_folder[und]":"325"},"type":"media","attributes":{"height":"399","width":"712","class":"media-element file-media-original"}}]]From left to right: Councilmember Joe Buscaino, District 15; LATMD Chairman Javier Cano; Los Angeles Tourism SVP of Business Affairs Patti MacJennett; Los Angeles Tourism President & CEO Ernest Wooden Jr.; LACTD Executive Director Doane Liu; Councilmember Curren D. Price, Jr., District 9Tourism accelerated Los Angeles County’s economic prosperity in 2018 as visitors pumped an all-time high $23.9 billion directly into the L.A. economy, generating a record $36.6 billion in total economic impact. President & CEO Ernest Wooden Jr., LACTD Executive Director Doane Liu and TMD Chairman Javier Cano shared these results and more with the 15-member Los Angeles City Council during National Travel & Tourism Week, an annual event established by Congress and organized by the U.S. Travel Association to celebrate the power of travel.As importantly, tourism supported 534,258 jobs in L.A. County’s Leisure & Hospitality sector, its highest total on record, employing 1 in every 8.5 workers in the county. Reaffirming the strength of the sector, tourism added 9,700 new jobs last year.L.A. County’s hotels set all-time highs in 2018 for room nights sold (demand) at 30.2 million and average daily rate (ADR) at $180.17. Travelers generated a record $308 million in transient occupancy tax collections (TOT) for the City of L.A., an 8.7% year-over-year increase. These dollars are a critical revenue source for the City, used to fund local street repair, fire and police, as well as cultural and recreational services. Visitor spending in 2018 was $1.2 billion higher than 2017’s total, a 5% increase. Total economic impact (including the induced and indirect benefits) increased 4.9% over the previous year. Tourism contributed $2.9 billion in state and local tax revenues last year. Without tourism, every household in L.A. County would pay an additional $875 in taxes.Coverage of the announcement appeared in media outlets such as Los Angeles Times, Los Angeles Business Journal, Los Angeles Daily News, KNX-AM, KTLA-TV, KNBC-TV and more.Los Angeles welcomed 50 million visitors in 2018 setting records with 42.5 million domestic visitors and 7.5 million international visitors.