May 30, 2024

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With international travel returning, Hillsborough posts record-setting travel numbers

With international travel returning, Hillsborough posts record-setting travel numbers

The Hillsborough County lodge industry has officially joined the billionaire’s club.

For the to start with time, the county’s lodging industry completed 2022 with just around $1 billion in taxable income. Which is a 43{0b5b04b8d3ad800b67772b3dcc20e35ebfd293e6e83c1a657928cfb52b561f97} increase about 2021 and more than double the income from 2020.

That development is thanks to a number of aspects, according to Santiago Corrada, the President and CEO of Pay a visit to Tampa Bay.

“A good deal of perform was carried out in the course of the pandemic and the yr immediately after the pandemic,” he claimed.

In the course of that time, Corrada stated non-public investment groups aided to expand Water Road and Midtown. Investments at Tampa Global Airport additional more intercontinental and domestic flights, including the new addition of a non-prevent flight to London by Virgin Atlantic.

Corrada included the evolution of area points of interest and the city’s existence on lots of top rated 10 lists, together with getting rated one particular of Wallethub’s Top Summer Journey Locations in 2022, also aided raise Tampa Bay’s visibility globally.

He also explained the strong restoration of the tourism industry is a boon for the point out.

“There’s a correlation with men and women being and then impacting the economy,” Corrada explained. “They are shelling out sales tax, they are shelling out the instruction tax, they’re likely out to try to eat and supporting dining establishments, they are likely out to be entertained, they’re using transportation.”

While very last year’s figures are not but total, Corrada explained the financial affect for the area was around $7 billion in 2021 and he expects even even bigger numbers for 2022.

“So (in 2021), when we have $885 million in lodging, it generates $1.3 billion in meals and beverage. It furthers $928 million in recreation and $793 million in transportation,” Corrada claimed, including, “what’s really vital is that it also generates $426 million in state and local taxes.”

City of Tampa postcard mural on side of red brick building.

Keir Magoulas

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Pay a visit to Tampa Bay

For the very first time, motels in Hillsborough County have hit $1 billion in yearly taxable income.

Even though most of the state is continue to not back to pre-pandemic figures according to Florida tourism officers, Corrada mentioned something to keep in intellect is that Hillsborough and Tampa do not ordinarily follow nationwide or state tendencies.

“If we’re not near to currently being pre-pandemic in Hillsborough County, we’re fairly near,” he claimed.

Income does not appear to be to be slowing down in 2023 possibly. As of January 28th, Corrada explained earnings for the thirty day period was up over 29{0b5b04b8d3ad800b67772b3dcc20e35ebfd293e6e83c1a657928cfb52b561f97} from 2022.

Steve Hayes, the President and CEO of Check out St. Petersburg Clearwater, spoke past week from a trade exhibit wherever Florida tourism officials ended up touting the state to worldwide vacationers.

He stated Pinellas County lodges strike $1 billion in taxable profits in 2019, but like elsewhere across the state, the location took a significant hit in 2020.

When formal figures from 2022 are anticipated in the coming days, Hayes claimed they will very likely occur near to, if not surpass, that $1 billion mark all over again.

Previous week, Check out Florida officers unveiled worldwide travel figures from the last 3 months of 2022. People figures showed the ongoing effects of inflation, increased visa-processing moments and COVID-19 vaccine mandates for overseas air tourists coming to the U.S.

In all, Florida experienced about 7 million worldwide readers in 2022, up 73{0b5b04b8d3ad800b67772b3dcc20e35ebfd293e6e83c1a657928cfb52b561f97} from 2021 — but 28{0b5b04b8d3ad800b67772b3dcc20e35ebfd293e6e83c1a657928cfb52b561f97} underneath the nearly 10 million in 2019, a new quarterly estimate suggests.

Comprehensive fourth-quarter tourism figures will be produced in about two months.

Further info from the News Company of Florida was utilised in this tale.