July 23, 2008

Orlando CVB Releases Updated Forecast for 2008/2009

ORLANDO, Fla. – Total visitation to Orlando is expected to rise 1 percent from 48.7 million in 2007 to 49.2 million visitors in 2008, according to the newly updated destination forecast commissioned by the Orlando/Orange County Convention & Visitors Bureau, Inc. (Orlando CVB) from its research vendor, Global Insight, Inc. The updated forecast reflects the following trends in visitation:

• Combined domestic and international arrivals are expected to increase1 percent from an estimated 48.7 million visitors in 2007 to 49.2 million in 2008 and grow 3.2 percent in 2009 to 50.8 million visitors.
• Domestic visitation, with 45.9 million visitors in 2007, is expected to grow 0.8 percent to 46.3 million in 2008 and 3.2 percent in 2009 to 47.8 million visitors.
• International visitation is expected to increase 3.7 percent from 2.8 million visitors in 2007 to 2.9 million visitors in 2008 and 4.2 percent in 2009 to 3.1 million visitors. The forecasted level of international visitors in 2008 remains well below the 2000 peak of 3.7 million visitors.
• The United Kingdom will continue as Orlando’s top international market. Arrivals are expected to increase 3.4 percent from 990,000 in 2007 to 1.02 million visitors in 2008 and 4.1 percent in 2009 to 1.1 million visitors.
• Visitation from Canada, Orlando’s second largest international market with 783,000 visitors in 2007, is expected to grow 6.1 percent to 831,000 in 2008 and 6.9 percent to 888,000 visitors in 2009.
• Overnight convention/group meeting is expected to decrease 2.9 percent from 3.8 million visitors in 2007 to approximately 3.7 million visitors in 2008 and continue to decline 1.4 percent to 3.6 million visitors in 2009.

The model used for updating the Orlando visitor forecast for 2008 incorporates year-end domestic visitor statistics for 2007 from D.K. Shifflet & Associates. Global Insight, Inc.’s forecast model is based on economic indicators from Florida, the United States and the global economy. The model used to generate the forecast includes factors such as gross domestic product, employment levels, inflation rates and currency exchange rates. Past and current travel forecasts do not take into consideration the effect of destination advertising on travel.                      

Global Insight, Inc., formerly DRI-WEFA, is an international economic research, analysis and forecasting company headquartered in Waltham, Mass. The company employs more than 600 professionals, researchers and economists at 23 offices in 13 countries across North and South America, Europe, Africa, the Middle East and Asia.

D.K. Shifflet & Associates Ltd., a travel research firm, specializes in consumer-based travel data. DKS&A’s DIRECTIONS^® Travel Intelligence SystemSM collects detailed monthly travel data on more than 150,000 trips annually collected from a sample of U.S. households.

The Orlando CVB began forecasting travel to the destination in April 2002. The Orlando CVB is the official branding, sales and marketing organization for the Orlando area responsible for generating brand awareness, increasing travel to the area and booking conventions and meetings. For more information, visit orlandoinfo.com.