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US attraction industry growing at twice the rate of the economy

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New research conducted by Tourism Economics shows that the attraction industry in the US has grown nearly twice the rate of the rest of the economy between 2004-2011.

According to research conducted by Oxford Economics for the International Association of Amusement Parks and Attractions (IAAPA), in 2011 alone the US attractions industry generated a total economic impact of almost US$219bn (£146bn, €170bn) - a huge increase compared to 2004 when it had an impact of US$146m (98bn, €114bn) over the year.

Theme and water parks had the largest economic impact, generating US$122bn (£81bn, €93.5bn) in total economic activity, while museums and family entertainment centres generated US$37bn (£34.5bn, €28.3bn) and US$32bn (£21.2bn, €24.5bn) respectively.

Florida benefited the most from tourism, with its total economic impact at US$47.7bn (£31.6bn, €36.5bn) for 2011, creating almost 500,000 jobs in the process.

California benefits second most from its economic impact coming in at US$38.2m (£25.3m, €29.2m) while New York finished in the third spot at US$10.2bn (£6.7bn, €7.8bn).

In addition to the economic impacts, the attractions industry also generated significant fiscal (tax) impacts at all levels. In 2011, the industry generated more than US$22bn (£14.5bn, €16.8bn) in federal taxes and nearly US$19bn (£12.5bn, €14.5bn) in state and local taxes. Theme and water parks generated more than US$12bn (£7.9bn, €9.2bn) in federal taxes and nearly US$11bn (£7.2bn, €8.4bn) in state and local taxes.

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New research conducted by Tourism Economics shows that the attraction industry in the US has grown nearly twice the rate of the rest of the economy between 2004-2011. In 2011 alone the US attractions industry generated a total economic impact of almost US$219bn (£146bn, €170bn) - a huge increase compared to 2004 when it had an impact of US$146m (98bn, €114bn) over the year.
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