Boost in Tourism Spending in Tennessee Creates Tax Savings for Residents
Tourism Industry Growth
One of the most significant economic engines in the Tennessee Valley, which includes Chattanooga and various neighboring counties, is the booming tourism industry. Following the pandemic-induced downturn, the state has witnessed an impressive rebound, setting new records and generating unprecedented tax benefits for the state’s residents.
According to recent reports, tourist spending in Tennessee rose by over 6 percent between 2022 and 2023. “We ranked as the fifth most beneficial state in the U.S. in terms of visitor taxes,” said Mark Ezell, Commissioner of the Tennessee Department of Tourist Development. He attributed this success, in large part, to the appeal of Tennessee’s diverse outdoor offerings.
Outdoor Tourism Leads the Way
Ezell noted the key role played by the state’s natural amenities in attracting visitors and boosting tourism revenues. The pandemic’s impact highlighted the appeal of Tennessee’s scenic beauty, leading to a surge in visitor numbers. “This combination of what the pandemic did in exposing Tennessee’s outdoor assets led to a significant boost, and we’ve been holding strong ever since,” Ezell explained.
As per the Commissioner’s office, state residents saved more than $1,100 in taxes each year, thanks to the $3.2 billion generated by visitors in 2023. Ezell stated that the trend toward outdoor exploration expected to continue, with many visitors making Tennessee a regular stop in their travel plans.
Chattanooga: Future National Park City
Chattanooga, surrounded by natural beauty and enriched with intriguing history, has set an ambitious goal to become America’s first national park city by 2025. Chattanooga Mayor Tim Kelly recently signed a covenant that will establish the Urban Ecology Preserve along the South Chickamauga Creek, enhancing the appeal of the city further for outdoor enthusiasts.
Brian Smith from Chattanooga Outdoors commented on the city’s natural allure, “When you look around, we’re surrounded by natural beauty and plenty of history.”
Positive Economic Impact
According to Ezell’s office, in 2023 Tennessee saw a record-breaking $144 million in revenue from visitors, a $3 million increase from the previous year. The complete 2023 economic impact report on travel, due to be released next month, will provide a comprehensive overview of visitor data for each county.
Tennessee’s success story serves as a testament to the significant potential that lies within the realm of sustainable tourism for both economic growth and direct benefit to the state’s residents in the form of tax savings.
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