News & Events

Global Travel Price Increases Set to Slow Down in 2020

August 5th, 2019 |

According to the sixth annual Global Travel Price Forecast, conducted by Rockport Analytics and published by GBTA and CWT, the growth in travel prices is expected to slow in 2020 with airfare rising only 1.2%, hotel rates 1.3%, and rental car rates 1%.  The expectation for modest price increases is driven by constrained corporate travel demand, a result of slowing global growth, heightened economic and political uncertainty and declines in manufacturing and business confidence. Learn More

The 2018-19 Orange Bowl Events are Significant Economic Drivers for South Florida

July 1st, 2019 |

Rockport’s analysis of the economic impact of the 2019 Orange Bowl Events, including the College Football Playoff Semifinal at the Capital One Orange Bowl, estimates that more than $32 million was generated in new federal, state and local taxes by visitors from outside South Florida. The more than 67,000 non-residents who visited Miami-Dade and Broward Counties from May 2018 to April 2019 supported more than 1,500 annual full and part-time jobs that generated nearly $62 million in wages. Learn More.

The 2019 Men’s Final Four Generates an Economic Impact of $143 million for the Minneapolis-St. Paul Metro Area

June 25th, 2019 |

Rockport’s analysis of the economic impact of the 2019 Men’s Final Four calculates that the event brought 91,000 visitors to the Greater Minneapolis-St. Paul region.  The 91,000 non-residents generated $23 million in state and local taxes, and contributed $143 million in economic impact to the region’s economy. Learn More.

Delaware Tourism Tallies Another Record-Breaking Year in 2017

May 10th, 2019 |

The most recent Rockport study of the economic impact of tourism in Delaware estimates that the 9 million visitors who traveled to the state in 2017 contributed $3.4 billion to Gross State Product. The tourism industry generated $522 million in tax revenue in Fiscal Year 2017, and without tourism, each Delaware household would pay an additional $1,468 in taxes. Tourism is an economic engine for the state, and its 4th largest employer, generating 43,380 jobs in 2017. Learn More.

Indianapolis’ 28.8 Million Visitors Generated a Record $5.4 Billion in Spending in the Metro Area in 2017

February 1st, 2019 |

A recent Rockport study estimates that the 28.8 million visitors who came to Indianapolis in 2017 generated a record $5.4 billion in spending. Tourism-related industries supported more than 81,640 full-time-equivalent (FTE) jobs across the metro area paying resident employees a total of $2.7 billion in wages. Tourism-initiated taxes grew by 3.4% percent from 2016 reaching $1.26 billion with about 14 cents of each visitor dollar going towards the payment of state and local taxes. Learn More

Steady Growth in Global Business Travel Spending Forecasted Through 2022

August 15th, 2018 |

According to the BTI Outlook, an annual research study conducted by Rockport Analytics on behalf of the Global Business Travel Association (GBTA), Global business travel spending is forecast to advance by 7.1% in 2018 and will expand to $1.7 trillion by 2022. According to the report, India and Indonesia will be the fastest growing markets over the next five years, picking up 11.3% and 8.7%, respectively. Despite signs of an economic slowdown and growing trade tensions with the United States, China remains the world’s largest business travel market and will continue to distance itself from the rest of the world over the next few years. Learn More.

A Strong Global Economy Will Fuel an Increase in Travel Prices in 2019

July 25th, 2018 |

According to the fifth annual Global Travel Price Forecast, conducted by Rockport and published by GBTA and CWT,  travel prices are expected to rise moderately in 2019 amid an improving global economy and higher oil prices. Learn More.

Project-Based Travel Represents a Large and Growing Segment of the US Business Travel Market

June 19th, 2018 |

The results of a landmark study of the project-based business travel segment were released today.  The study, conducted by Rockport in partnership with GBTA and Intercontinental Hotels Group (IHG) found that a total of 66 million project-based trips were taken in the US last year.  Total spending on these trips eclipsed $45 billion in 2017, roughly 15% of all business travel spending over the period.  The study found significant differences in the way project-based trips are booked and the incidence of project-based business travel by industry.  Learn more.

The Minneapolis-St. Paul Region Reaps Handsome Reward From Super Bowl LII

May 29th, 2018 |

The net economic impact to the Minneapolis-St. Paul economy from Super Bowl LII was an estimated $400 million, according to the recent Rockport study of the big game.  Rockport estimates are derived from a comprehensive analysis of visitor expenditures, host committee and NFL operations, reported tax collections, media expenditures and other ancillary economic activities. The net economic impact included 5,490 jobs supported, $273 million in paid wages and $32.4 million in state and local tax revenues.  Learn more.

Glensheen Historic Mansion Drives $7.5 Million in Economic Impact for the Duluth Economy

April 15th, 2018 |

A recent Rockport study of Glensheen found that roughly 90,000 people visited the attraction from outside the local area in 2016. Glensheen, the Historic Congdon Estate is a 20,000 square foot mansion in Duluth, Minnesota, United States, operated by the University of Minnesota Duluth as a historic house museum. Spending by visitors coupled with the operations and capital expenditures of Glensheen led to a $7.5 million injection into the local economy.  Glensheen was also responsible for supporting 143 local jobs and generating $2.5 million in federal, state and local tax revenue.  Learn more.