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Attractions industry remains a significant driver of
In 2011, the attractions industry contributed nearly 219 billion dollars to the U.S economy, while representing nearly 2.3 million jobs in the country. These are the two main discoveries of a study conducted by Oxford Economics, a company specialized in economic analysis, on behalf of the IAAPA Foundation.
According to this study, that particular year about 30,000 attractions impacted directly the American economy with $91 billion (approx €69 billion), an amount that includes direct industry sales ($34 billion), capital expenditures ($5 billion) but also ancillary spending of out-of-town visitors at local establishments outside the attractions, such as hotels, restaurants, and retailers ($52 billion). The industry also generated indirectly $127 billion through the supply chain and the spending of attractions-generated incomes.
Amusement parks represented the largest contribution of the industry with an impact on the U.S. economy of $122 billion including $40 billion in labor income and a total of 1.3 million jobs. They are followed by museums ($36.8 billion), family entertainment centers among with which are counted amusement arcades, bowling centers, ice/roller skating rinks, miniature golf courses, coin-operated amusements and concession operators of amusement rides ($31.6 billion), zoos and wildlife parks including botanical gardens and aquariums ($11.3 billion), water parks ($10.8 billion), historical sites ($3.5 billion) and nature parks ($2.7 billion).
The fiscal impact of the attractions industry is also significant. Indeed in 2011, the sector generated nearly $41 billion of taxes including $22 billion at federal level and $9 billion at local and state levels. Amusement parks/theme parks and water parks contributed $23.1 billion, respectively $12.3 billion for the federal and $10.8 billion for the local/state levels.
The two largest States in terms of impact are Florida and California, precisely where the most popular theme parks of the country are concentrated (in terms of attendance according to the annual ranking established by the TEA and AECOM). Florida, where tourism is the principal economic activity, stands in first position with an impact of $48 billion (including $14 billion of labor income), nearly 490,000 jobs and $9 billion of taxes, including $5 billion for the federal level. California ranks second with an impact of $ 38 billion and nearly 360,000 jobs. Then follow the States of New York ($10 billion), Texas ($7 billion) and Ohio ($6.5 billion) to name only the main ones.
The study also shows that, over the period from 2004 to 2011, the attractions industry grew at nearly twice the rate of the overall U.S. economy with an average growth rate of 6% per annum (against 3.5%). In 2004, the industry generated $146 billion, including $61 billion in direct impacts and $85 billion in indirect and induced impacts.
To carry out this survey, Oxford Economics examined a large number of data published by various public and private organizations such as the NAICS (North American Industry Classification System), the U.S. Census Bureau, the Bureau of Labor Statistics (BLS), the Bureau of Economic Analysis (BEA) et the IAAPA Research Studies.
It is possible to obtain a paper copy or a PDF copy of the study by making a donation to the IAAPA Foundation for a minimum of $250 for the members of the leading trade association of the attractions industry (minimum $2,500 for non-members). For more information, please visit IAAPA Foundation's website.
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