New research reveals that Orlando’s 75 million visitors generated $75.2 billion in annual economic impact for Central Florida — or about $1,000 per traveler — a 6.4% increase over the previous year.
Leading global research firm Oxford Economics analyzed tourism’s impact across all business sectors, from food suppliers and utility companies to insurance and health care. The new study analyzed annual impact from 2018.
According to the study:
- The region’s largest employer, tourism supports 41% of the workforce (463,004 jobs).
- Orlando’s tourism industry generated $5.8 billion in local and state tax revenue in 2018. The taxes visitors pay go toward funding local government services important to all residents, such as public safety, infrastructure projects, parks and recreation, school construction and more.
- In the last five years, a 20% growth in visits has spurred nearly 25% growth in spending, supporting 13% growth in employment in Central Fla (2014 vs 2018).
An additional study by PFM Group Consulting also showed that visitors contribute over 51% of all sales taxes collected in Orange County. These taxes help fund schools, roads and public safety for the region.
“These studies illustrate the impact of the tourism industry across multiple business sectors, and how it serves as a catalyst for diversification of our region’s economy,” said George Aguel, president and CEO of Visit Orlando. “We’re pleased this research is able to quantify the downstream impact into business areas beyond what you might expect, from real estate and finance to health care.”
To calculate total economic impact, Oxford Economics uses a widely recognized model to measure three types of spending: direct, indirect and induced.
- Visitors create direct economic value by spending on items such as lodging, recreation, retail, dining and transportation.
- Companies in those sectors create indirect impact by purchasing their goods and services from other businesses, such as food wholesalers and utility suppliers.
- Employees whose wages come either directly or indirectly from tourism create induced impact when they spend those wages in the local economy.
Below is a breakdown showing the business sales impact for each sector of Orlando’s economy:
- Agriculture, fishing, mining: $32 million
- Air transport: $2.55 billion
- Business services: $6.22 billion
- Communications: $2.40 billion
- Construction & utilities: $1.44 billion
- Education & health care: $3.34 billion
- Finance, insurance & real estate: $11.9 billion
- Food & beverage: $7.89 billion
- Gasoline stations: $1.31 billion
- Government: $441 million
- Lodging: $8.11 billion
- Manufacturing: $938 million
- Other transport: $1.27 billion
- Personal services: $1.52 billion
- Recreation & entertainment: $16.1 billion
- Retail trade: $8.13 billion
- Wholesale trade: $1.62 billion
About Visit Orlando
Visit Orlando is the official tourism association for the most visited destination in the United States and, together with its 1,200 member organizations, represents the area's leading industry. Visit Orlando is responsible for branding, selling and marketing the Orlando destination worldwide, and serves as the official visitor information source.
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