This past year Los Angeles County hosted around 41.2 million domestic visitors and 7.3 million international visitors which brought in about $22.7 billion into the county economy. This marked the seventh straight year of increased tourism in L.A.!
Economists estimate that the $22.7 billion of spending may actually come up to be about $34.9 billion when calculating the overall purchases of goods and services by our visitors. In addition, according to the tourism board, this total constitutes for a 3.9% increase over 2016.
Aside from Los Angeles County rising in tourism, the state of California as a whole has seen an increase in tourist spending as well. The marketing venture for the state – Visit California – reported that about $132.4 billion was spent by tourists in the state last year. About 40% of spending came from California residents and an additional 37% came from other states.
To take advantage of this growth in tourism, the hotel industry in Los Angeles County has been on a building spree, having at least 700 hotel rooms under construction. In fact, dual-branded Hyatt hotels are under development near Los Angeles International Airport to attract tourists. CaRE Development/5959 entered into a franchise agreement with a Hyatt affiliate to develop the 272-room Hyatt Place LAX and the 129-Hyatt House LAX, which are expected to open in 2020.
With the expansion of hotel rooms and increased tourism, do you think we can beat the 2017 record this year?
If you’re interested in following a career path in the Travel and Tourism industry, click on the button below to check out Cypress’s great Degree and Certificate Program.