News & Events
Prospects for European Business Travel Remain Weak
April 18th, 2013 |
The recent release of Rockport’s biannual GBTA BTI™ Outlook – Western Europe, which is commissioned by the GBTA Foundation and sponsored by Visa, indicates that business travel in the developed nations of Western Europe will continue to suffer under the weight of outsized sovereign debt burdens and the austerity programs prescribed as remedy. We also expect the northern European business travel markets will continue to outperform their less stable counterparts to the south. In 2013, we forecast business travel spending will advance 0.3% in Germany, 0.6% in France and 0.9% in the U.K.; meanwhile, spending will fall -1.4% in Spain and -1.1% in Italy. Total business travel spending among the five countries included in our analysis is projected to reach $184 billion USD (€145 billion EUR) in 2013. Lean more.
Delaware Tourism Grows Despite Economic Challenges
November 14th, 2012 |
Delaware welcomed 7.2 million visitors (person-trips) in 2011, up 1.1% over 2010 according to a study recently conducted by Rockport Analytics. Leisure visitation was up 1.6% year-over-year while business volume fell 1.2%. Visitor spending in the state totaled $3.8 billion, up 3.6% over 2011. However, spending on tourism construction and investment (both public and private) declined dramatically, falling -6.7%. In total, Delaware’s Travel and Tourism industry generated $2.7 billion in Gross State Product (GSP), supported 46,000 jobs and contributed $731 million in federal, state and local tax revenues in 2011. Learn more.
Travel & Tourism Brings $1.18 Billion in Economic Impact to the LBI Region in 2011
October 25th, 2012 |
Recent research conducted by Rockport Analytics shows that visitors to the Long Beach Island area of Ocean County, New Jersey spent a total of 1.2 billion in 2011, resulting in value added of $1.8 billion to the local economy. Tourism activity supported over 20,000 jobs in the region including over 15,000 jobs that directly support visitation. Additionally, tourism supported jobs in sectors of the local economy not normally associated with tourism such as professional and business services and administrative services. In total, visitors to the LBI region contributed $299 million in tax revenue including $133 million in federal tax revenue, $69 million in state tax revenue and $97 million in local tax revenue. Learn more.
U.S. Business Travel Hampered by European Woes
July 24th, 2012 |
Rockport’s 2012 Q2 analysis conducted for the Global Business Travel Association (GBTA) and sponsored by Visa, Inc. – GBTA BTI™ Outlook – United States – shows that uncertainty in Europe will dramatically slow the growth of business travel in the United States through the end of the year. In addition, ongoing concern in the U.S. economy, including low job growth, falling consumer confidence and retail sales, and slowing corporate profits, have created significant headwinds for business travel in the near term. Finally, there is increasing evidence that businesses may be entering into a holding pattern as they wait for the economic environment to solidify. Learn More.
Super Bowl XLVI Generates $278 Million in Economic Impact for Indianapolis
July 20th, 2012 |
the Indianapolis Super Bowl host Committee commissioned Rockport Analytics to conduct a study to measure the benefits of Super Bowl XLVI to the Indianapolis economy. Our study found that a total of $278 million was added to Indy’s GDP as a result of the big game in February. Our conservative total accounts for the estimated displacement of visitor spending that would have occurred had Super Bowl XLVI not been in town. As a result of the game and accompanying events, $176 million was added to area payrolls and a total $76 million made its way into tax coffers including $37 million in federal tax receipts, $22 million in state tax receipts and $18 million in local tax receipts. Learn more.
San Mateo Travel Tax Proposal Would Negatively Impact Demand
May 29th, 2012 |
A recent study conducted by Rockport Analytics found that two measures that San Mateo County voters will consider when they head to the polls on June 5: Measure T, a proposal to raise taxes on all SFO car rental receipts, and Measure U, a proposal to boost the hotel occupancy taxes on SFO-area hotels, would lead to significantly reduced demand for both rental cars and hotel rooms in the County. The San Mateo’s Board of Supervisors estimates tax collections from the two measures would bring in $7.7 million; however, our study finds that these revenue collections are overstated by 31% because the plan fails to take into account the lower levels of demand that would stem from higher prices. Learn more.