tourism satellite account calendar year 2014 the economic impact of tourism in finney county, kansas
TRANSCRIPT
Tourism Satellite AccountCalendar Year 2014
The Economic Impact of Tourism in Finney County, Kansas
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Headline results Key indicators in Finney County are supporting the importance
and growth of tourism in the county.
Visitors spent $87 million in Finney County in 2014 with spending growing 9%.
Visitor spending in Finney County ranks 11th among all counties in the state, rising one spot in 2014.
This spending directly supports 883 jobs with overall visitor-supported economic activity supporting more than 1,150 jobs – one out of every 16 jobs in the county.
Tourism in Finney County generated $13.2 million in tax revenues in 2014, with $8.2 million accruing to state and local governments.
Trends and Analysis
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Key trends Examining the performance of key
travel sectors in the county in comparison to the state and other industries supports the analysis.
Leisure and hospitality (LHS) sales in Finney County rebounded in 2013 and 2014, with growth outpacing and surpassing LHS sales at the state level.
Taxable sales in the leisure and hospitality industry have increased by a third since 2010.
Sales at clothing establishments jumped in 2014.
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2010 2011 2012 2013 2014
County
State
Sales in Leisure & Hospitality Industries
Sources: Kansas Dept. of Revenue, Tourism Economics
Taxable sales, indexed 2011=100
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2010 2011 2012 2013 2014
County
State
Sales in Clothing Industry
Sources: Kansas Dept. of Revenue, Tourism Economics
Taxable sales, indexed 2011=100
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Key trends Further indication of tourism
industry performance in Finney County is the growth of employment in key tourism sectors.
Leisure and hospitality employment growth in Finney County has continually outperformed the state as a whole.
While overall county employment has been flat over the past four year, leisure and hospitality employment growth in the county is surging.
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2011 2012 2013 2014
State LHS Emp
County LHS Emp
County Employment
Employment Growth Comparison
Sources: BLS, Tourism Economics
Employment, indexed 2011=100
LHS = Leisure & hospitaility
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Finney County, Tourism Sales
Lodging17.9%
Food & Beverage
27.1%
Retail20.2%
Recreation9.7%
Transport25.1%
Second Homes0.1%
$70.3$74.0
$83.6$79.9
$87.0
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
$0
$10
$20
$30
$40
$50
$60
$70
$80
$90
$100
2010 2011 2012 2013 2014
$ M
illi
on
s
$
Visitor Spending
Visitor spending in Finney County grew 9% in 2014, reaching $87 million.
This growth represented a $7.1 million increase over 2013 performance.
Visitor spending growth has averaged 4.4% per annum since 2010 even with the slow down in growth seen in 2013.
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Finney County, Tourism Sales
Year LodgingFood &
BeverageRetail Recreation Transport
Second Homes
TotalGrowth
Rate
2014 $15.5 $23.6 $17.6 $8.4 $21.8 $0.1 $87.0 8.9%
2013 $14.0 $21.8 $16.0 $7.9 $20.0 $0.1 $79.9 -4.4%
2012 $15.2 $22.1 $16.7 $8.7 $21.0 $0.0 $83.6 13.0%
2011 $13.0 $20.0 $14.9 $7.5 $18.5 $0.0 $74.0 5.3%
2010 $11.6 $19.2 $14.4 $7.3 $17.7 $0.0 $70.3
Visitor Spending, (millions)
Finney County
Lodging spending rose $1.5 million in 2014 to $15.5 million and represents 18 cents of every dollar spent in Finney County.
The largest two categories of spending are transportation and food and beverages with $23.6 million spent at restaurants, bars and grocery stores in Finney County in 2014.
More than 20 cents of an average visitor dollar is spent at retail businesses in the county.
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Finney County, Tourism Impact
2.8%
4.8%
0% 1% 2% 3% 4% 5%
Labor Income
Employment
Direct Tourism Share of County EconomyYear DirectTotal (Dir,
Ind, Induced)
County Tourism
Dependence2014 883 1,156 6.2%
2013 848 1,111 6.1%
2012 911 1,184 6.5%
2011 813 1,107 5.9%
Year DirectTotal (Dir,
Ind, Induced)2014 $18.70 $28.26
2013 $17.28 $26.36
2012 $17.83 $26.90
2011 $15.59 $24.61
Finney CountyTourism Employment
Tourism Labor Income (millions)
Direct visitor employment grew 4% in 2014, to 883 jobs. Tourism supports a total of more than 1,150 jobs - 6.2% of all jobs in the county.
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Finney County, Tourism Impact
Year Federal State & Local Total
2014 $5.0 $8.2 $13.2
2013 $4.7 $7.7 $12.3
YearSales
(millions)Share of
StateRANK
2014 $87.0 1.40% 11
2013 $79.9 1.34% 12
County Sales Highlights
Total Tourism Tax Receipts (millions)
Finney County
Visitor activity supported $13.2 million in governmental revenues of which $8.2 million accrued to state and local governmental authorities.
Finney County ranks 11th in visitor sales among all counties in Kansas with 1.4% of all visitor sales in the state in 2014.
Finney County’s strong visitor spending gains helped the county gain market share in 2014.
Methodology and Background
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By monitoring tourism’s economic impact, policy makers can make informed decisions regarding the funding and prioritization of tourism development.
With this information, interested parties can also carefully monitor tourisms successes and future needs.
In order to do this, tourism must be measured in the same categories as other economic sectors – i.e. tax generation, employment, wages, and gross domestic product.
Why quantify the tourism economy?
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Why is this a challenge?
Most economic sectors such as financial services, insurance, or construction are easily defined within a country’s national accounts statistics.
Tourism is not so easily measured because it is not a single industry. It is a demand-side activity which affects multiple sectors to various degrees.
Tourism spans nearly a dozen sectors including lodging, recreation, retail, real estate, air passenger transport, food and beverage, car rental, taxi services, travel agents, museums, and theme parks.
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Methods and data sources
Estimates of visitor expenditures were based on several sources including:
County tax data on sales tax receipts by industry.
County employment and wage data broken out by industry.
Recreational second home expenditures based on US Census data.
Local impacts were calculated by using the state impact analysis as a control and local industry sales and employment data along with the estimates of visitor spending. Tourism Economics then cross checked these findings with employment and wage data for each sector to ensure the findings are within reasonable ranges.
Employment and wage data were obtained from the Bureau of Labor Statistics, and the US Census Bureau.
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Definitions
Direct spending/visitor spending: any spending directly from a traveler’s pocket into the local economy.
Direct impacts: all jobs and wages supported only by the direct spending of visitors.
Total impacts: all jobs and wages supported by visitor economic activity. This includes the direct impacts along with indirect (supply-chain effects), induced (wage effect) and any capital investment and governmental spending in support of tourism in the local economy.
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Description of spending categories
Spend Category Description
LodgingIncludes visitor spending in accommodation sector. This includes food and other services provided by hotels and similar establishments.
Food and beverage Includes all visitor spending at restaurants, bars and grocery stores.
Retail Includes visitor spending in all retail sectors within the economy.
RecreationIncludes visitors spending within the arts, entertainment and recreation supersector.
TransportIncludes all forms of transport services such as visitor spending on gasoline, taxis, limos, trains, rental cars, and buses.
Second homesSpending associated with the upkeep of seasonal second homes for recreational use as defined by the Census Department.
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For more information:
Adam Sacks, Managing Director
Christopher Pike, Director