The Los Angeles Tourism & Convention Board (L.A. Tourism) recently announced its record-setting economic impact for the previous year. Los Angeles County’s 48.5 million visitors spent an all-time high in 2017, generating a record $34.9 billion in total economic impact (including $22.7 billion spent directly in the L.A. economy).
Tourism supported 523,800 jobs in L.A. County’s Leisure & Hospitality sector, employing 1 in every 8.5 workers. The tourism industry contributed to the second largest addition of new jobs last year across all industry sectors with 13,900. L.A. County’s hotels set all-time highs in 2017 for room nights sold (demand) at 29.4 million and average daily rate (ADR) at $175.98. Travelers generated a record $283.9 million in transient occupancy tax collections (TOT) for the City of L.A., a 14.3% 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. Direct visitor spend in 2017 was $800 million higher than 2016’s total, an increase of 3.9%. Tourism contributed $2.74 billion in state and local tax revenues last year. Without tourism, every household in L.A. County would pay an additional $837 in taxes.
“As we move closer to our goal of 50 million visitors by 2020, tourism has undeniably become an impactful economic driver for Los Angeles underscored by seven straight years of unparalleled growth,” said Ernest Wooden Jr., president & CEO of Los Angeles Tourism & Convention Board. “We are committed to ensuring that our city continues to deliver a transformative experience and thank our hospitality partners for their ongoing investments that make Los Angeles one of premier tourist destinations in the world.”