VFTCB Optimistic About County’s Tourism Outlook
It’s a great time to be a guest in Montgomery County, as business is booming in the hotel industry with five new hotels in the pipeline.
Although there is more inventory, there is also more momentum because when new properties come on the market, it puts pressure on existing hotels to make improvements to their facilities.
Thirty-five million dollars in present capital reinvestment is going into existing properties across Montgomery County, ensuring that visitors who come here enjoy the best comfort, style, and amenities.
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“We’re very optimistic about tourism in Montgomery County,” said Mike Bowman, President and CEO of the Valley Forge Tourism & Convention Board. “With some spectacular new hotels coming into the county and all the improvements being made to our existing facilities, people have their pick of places to stay.
“And when they’re here, we know they’ll have a great time learning about our rich history, exploring our vibrant arts scene, experiencing the best shopping in the country, and dining in our over 600 restaurants. All of this contributes to the economy in a positive way.”
Tourism is a major driver of Montgomery County’s economy. In 2016, tourism spending in Montco reached $1.5 billion and grew by 3.2 percent from the prior year according to Tourism Economics, a leading provider of economic impact data for destinations around the world.
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Beyond direct sales, the amount of business sales generated by tourism spending was $2.2 billion, when indirect and induced impacts were considered. This includes spending on things like construction, retail, recreation and entertainment, and food and beverages.
In 2016, tourism spending supported 4.1 percent of all jobs in Montgomery County, employing close to 20,000 people. With more new construction and improvements to existing inventory, the outlook for tourism-related jobs is positive.
Montgomery County’s hotel sector outperformed Pennsylvania’s in 2016, and Montco ranks first among the Philadelphia region’s suburban counties – Montgomery, Bucks, Chester, and Delaware – with a 41 percent share of the $3.7 billion in total visitor spending.
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