News & Events
Landmark Research Measuring Engineering’s Impact on the U.S. Economy
March 4th, 2021 |
Rockport Analytics worked with the American Council of Engineering Companies (ACEC) Research Institute to develop a series of studies that profile the Engineering and Architectural Services sector and measure the significant impact that engineering has on the U.S. economy. Highlights from the study show that the Engineering and Architectural Services sector employs more than 1.5 million people and pays an average annual salary of $88,000, far exceeding the national average of $60,300. The Engineering and Architectural industry’s revenue reached nearly $386 billion in 2019 and it generated almost $122 billion in federal, state and local taxes across the U.S. (Learn More)
The Chesapeake Bay Maritime Museum Drives $10 Million in Economic Impact for Talbot County in 2019
August 6th, 2020 |
A recent Rockport Analytics study of the Chesapeake Bay Maritime Museum found that roughly 40,000 people visited the attraction from outside the local area in 2019. These visitors spent more than $11.6 million in travel-related goods and services during their visit and generated $10.3 million in value added to the Talbot County economy including $8.9M in local wages and $1.7M in state and local tax revenue. The museum’s planned expansion will generate another $7.5M in capital expenditures and $5.8 million in additional economic impact for the state of Maryland. Read More
Introducing Rockport’s COVID-19 Travel Impact Barometer (TIB)
April 6th, 2020 |
The COVID-19 pandemic has slammed the brakes on economic activity over the past month. The travel and tourism industry along with its key component sectors – accommodations, transportation, retail, entertainment & recreation, and food & beverage services – have all been hit particularly hard. Now is a critical time for destination marketing organizations (DMOs), travel suppliers and stakeholders throughout the industry to analyze the impact of the pandemic and begin to map a plan for recovery.
To help support this planning, Rockport has developed a Travel Impact Barometer (TIB), a model that assesses the risk that COVID-19 poses to travel destinations and suppliers across a number of key factors & metrics:
1. Economic Indicators
2. Scientific/Epidemiological Factors
3. Political/Social Measures
4. Traveler Sentiment & Behavior
Our model can be customized and used to track the ongoing threat posed by COVID-19 as well as to forecast travel activity as the pandemic evolves. By leveraging real-time data and forecast scenarios, destinations and travel suppliers can better position marketing and operational strategy as we begin to recover from this sharp and unprecedented downturn.
Please contact us if you would like to get more information about the Travel Impact Barometer (TIB) or discuss how we might be able to support your organization through this extremely challenging time.
Foundational Research Conducted for Visit Annapolis & Anne Arundel County
March 15th, 2020 |
Rockport conducted a series of research studies for Visit Annapolis & Anne Arundel County to act as a foundation for strategic planning and ongoing visitor analysis. The studies included:
A visitor intercept surveys to profile visitors and assess their perceptions and attitudes around Annapolis as a destination and better understand key drivers of visitation.
An economic impact study: Rockport Analytics worked with Visit Annapolis to measure and analyze the full economic contribution that visitors made to the Anne Arundel County economy in 2018. Finding from this study show that Anne Arundel County welcomed 6.3 million visitors who spent more than $1.5 billion on travel-related goods and services. Of the $1.5 billion in visitor spending, nearly $1.2 billion was retained in the Anne Arundel County economy supporting more than 17,370 jobs and generating close to $343 million in tax receipts.
A resident sentiment survey: Rockport surveyed residents to gain residents’ perceptions of visitors and the impact they have on the local community.
An assessment of the short-term vacation rental (STVR) market: Rockport sized the market for short-term vacation rentals in the county and analyzed growth, composition, and the local tax revenue impacts the STVR market.
Download reports from the research here.
Global Travel Price Increases Set to Decelerate 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. Rockport Analytics provides a regional analysis of global markets including Asia-Pacific, Europe, Latin America, Middle East & Africa, and North America. (GBTA Blog, In The News)
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.