Economic Impact of Tourism
Coastal Carolina University estimates tourism accounts for a $7 billion economic impact and another $2.2 billion in labor impact and over 80,000 jobs throughout our local community. Key statistics from our local market are:
- Economists estimate that 80% of local tourism jobs are year-round, full-time.
- Horry County Hospitality Fee generated approximately $40 million in tax collections in 2018. (source: Horry County Government).
- Horry County generated more than $21 million in accommodations taxes in 2018, approximately 30% of the state’s total accommodations tax collections (source: S.C. Department of Revenue).
For more information regarding the economic impact of tourism on the Grand Strand, click here.
For more information regarding the economic impact of group business on the Grand Strand, click here.
A recent study prepared for the South Carolina Parks Recreation and Tourism (SCPRT) agency by the United States Travel Association revealed that domestic travel accounted for a direct economic impact of more than $13.7 billion annually and directly supported 127,000 jobs. Key findings from that study include:
- Domestic travelers directly spent $13.7 billion in South Carolina during 2017.
- Domestic travel-generated employees in South Carolina earned nearly $2.6 billion in payroll income during 2017.
- Domestic traveler expenditures directly supported 127,000 jobs within South Carolina in 2017. These jobs generated by domestic traveler spending in South Carolina composed 6.1 percent of the total state nonagricultural employment in 2017.
- On average, every $108,063 spent by domestic travelers in South Carolina during 2017 supported one job.
- Domestic traveler spending in South Carolina directly generated over $2.0 billion in tax revenue for federal, state and local governments in 2017.
National tourism is one of the world’s largest industries, employing millions worldwide. The United States Travel Association estimates domestic and international leisure and business travelers spent $1.1 trllion in the U.S. in 2018 and supported more than 15.7 million jobs.
For more information on the USTA and its economic impact study, click here.