Vacation Rental Homeowners…How You Can Help North Carolina Tourism Today
If you are a vacation rental homeowner then you can proudly claim to be part of the success story that is North Carolina’s $16.5 billion tourism industry, the dollar amount visitors spent in 2007. Add to that the state and local taxes that are collected as a direct impact from tourism and you have an additional $1.3 billion. Tourism also has a payroll of $4 billion and annually employs over 190,000 North Carolinians.
Speaking at the North Carolina Governor’s Conference on Tourism, executive director Lynn Minges shared these impressive statistics and dollar amounts with leaders in the tourism industry. Although North Carolina consistently ranks among the top 10 states visited each year, nationwide our state tourism marketing budget ranks only 21st among the 50 states, and eighth when ranked against our southern peer states.
Our neighbor state of South Carolina has recognized what a powerful economic engine tourism is for them and has committed to investing heavily in the coming year. South Carolina will be able to outspend North Carolina 3:1 based on the advertising/marketing budgets for each state. In other words, SC could take out a beautiful 2 page spread in Southern Living magazine and NC would just have a little half-page ad. South Carolina’s budget for the coming year is a whopping $46 million. Recent independent research revealed that for every dollar North Carolina invested in tourism promotion we receive back $185 in travel expenditures, including those dollars spent by those families renting your vacation home! For that same dollar invested in tourism promotion, $15 is generated in state and local taxes, an extraordinary 1:15 ROI (return on investment).
Chris Cavanaugh, Chairman of the North Carolina Travel and Tourism Board, has urged each of us who depends on tourism revenue to contact Governor Easley to advocate he fund North Carolina’s Division of Tourism by an additional $5 million for marketing and promotion in his budget for 2008-2009. The General Session will re-convene May 13 and it is imperative that Governor Easley hears overwhelmingly from all of us that this funding is vital to protect our tourism economy. You know that North Carolina’s tourism promotion has a direct impact on how well your beach investment property will perform this year. With the grim economic news and threats of recession on the horizon, it is more important than ever that we protect North Carolina’s market share in regards to tourism. Please take a few moments today to call, write or e-mail Governor Easley. Remind him of what your beach home means to you and how important it is that we keep those visitors returning to North Carolina and not let them be lured to South Carolina’s beaches.
Julia Batten Wax
Broker/Owner Emerald Isle Realty