Tourism’s impact on our community is significant, and we’ve got fresh numbers to prove it. We enlisted Tourism Economics, an Oxford Economic company and leader in travel sector analysis, to look at the economic impact of 2023 visitation.  
 
We released the new data today at Visit Orlando’s Insights Luncheon & Economic Forum. Based on our 74 million visitors in 2023, the research revealed that visitor spending contributed $58.5 billion to our community and generated a total economic impact of $92.5 billion—a 5.6% increase. That's like hosting the Super Bowl nearly twice a week for a year.  
 
Tourism in 2023 supported 464,000 local jobs and generated $12.6 billion in government revenue, reducing the annual tax burden on local households by $7,400.  
 
You can explore the full findings and see how Orlando's tourism benefits you in this press release.

In addition to the new data, today’s event featured dynamic guest speakers and a surprise performance. Here’s a recap of a few key moments:

• Economic Forum: Anirban Basu, Chairman & CEO of Sage Policy Group, shared insights into the current economic landscape, breaking down key issues like the U.S. debt, high borrowing costs and their potential impact. Visit Orlando’s Senior Director of Market Insights & Research, Maria Henson, focused on a look on Orlando noting that despite a slower summer, Orlando is expecting a strong finish to the year for lodging performance. Visit Orlando members will have access to the presentations in the Member Portal by the end of next week.
   
• Insights Luncheon: Attendees were treated to a dazzling performance from Cirque du Soleil’s Drawn to Life and shared how they enjoyed Visit Orlando’s Magical Dining presented by Orlando Health. A live poll revealed the top motivation to enjoy Visit Orlando’s Magical Dining was trying a new restaurant. I had the pleasure of introducing Visit Orlando’s new Chief Sales Officer, Lisa Messina, who just capped off her first week. And keynote speaker Kevin Brown shared a motivational message on how each of us can be heroes in our community. He reminded us that we are all a collection of stories, penning a daily new chapter in our own lives and the lives of others. 

Thanks to those who joined us today and for your continued support of Visit Orlando!

Visit Orlando Named Among Best Places to Work

As a 2024 Best Places to Work, Visit Orlando attended the Orlando Business Journal’s annual event to recognize honorees held at SeaWorld Orlando’s Ports of Call. Ranked among the top 20 large-sized companies, this honor was based on an employee satisfaction survey, highlighting our commitment to creating an exceptional and enjoyable workplace.

Our team proudly wore "Best Team Ever" shirts, showcasing our core values: We Innovate, We Trust, We Welcome, We Serve, and We 'Orlando.' The coordinated shirts were a fun way to show off our team pride and remind everyone that at Visit Orlando, fun has no height restrictions!

Data & Trends

Hotel Metrics: Metro Orlando’s hotel occupancy rate for the week ending August 17, 2024, was 59.8% which was up 1.7% from the same week last year. The average daily rate for the week was $159.14, which was up 4% from last year. Room night demand surpassed prior year by 2.6%.
 
July 2024 Orlando Employment Report Summary: The state labor report for July showed a slight increase in the Orlando MSA’s overall employment from June’s report with the addition of 2,000 jobs (+0.1%). The July unemployment rate in the Orlando MSA rose slightly from June to 3.7% and is still higher than the Florida unemployment rate (3.3%).

The Leisure and Hospitality sector in the Orlando MSA gained 800 jobs (+0.3%) from June to July. The Leisure and Hospitality sector is now at 102% of pre-pandemic (Feb-2020) employment. Sectors within the Leisure and Hospitality industry:

• Food Services and Drinking Places grew 0.2% from June to July; the sector is currently at 104% of Feb-2020 employment.
• Arts, Entertainment and Recreation grew 0.5% % from June to July; the sector is currently at 107% of Feb-2020 employment.
• Accommodations was flat from June to July; the sector remains at 93% of Feb-2020 employment.

Around the Destination

Hyatt Regency Orlando Sale: Hyatt recently completed the sale of the Hyatt Regency Orlando—the largest hotel sale this year at a staggering $1.07 billion. Additionally, a new Grand Hyatt Orlando hotel with approximately 2,500 rooms is also planned for an adjacent 45-acre lot. That’s a combined total of more than 4,000 guestrooms. Hyatt Regency Orlando is already the fourth largest Hyatt hotel globally by room count with 1,641 rooms and 315,000 square feet of flexible event space. This expansion will create more jobs and further solidify Orlando’s position as a global tourism leader. It is also a vote of confidence on Orlando’s growth and continues to propel us forward as a leading destination for business, leisure and events. Learn more about this deal.

MCO Achieves Largest Passenger Traffic Growth: The Orlando International Airport (MCO) was ranked the 7th busiest U.S. airport for passenger traffic in 2023 and saw the largest growth at 15% compared to 2022, according to Airports Council International – North America (ACI-NA). ACI-NA, the trade association representing commercial service airports in the United States and Canada, also recently released its 2023 international traffic totals, where MCO ranked 18th. MCO remains the busiest airport in Florida. Read more.

Visit Orlando Engaged!

Unique Partnership: Visit Orlando partnered with UK actress, Meesha Garbett, to showcase the destination to her 67,000 Instagram followers during a planned trip to Orlando. Meesha visited the Dr. Phillips Center for the Performing Arts, where she met and performed her viral dance from the 2022 Netflix adaptation of Roald Dahl's Matilda the Musical that took TikTok by storm with students from the School of the Arts. These talented young artists had staged their version of Matilda the Musical, at the arts center earlier this year. This unique collaboration helped the Dr. Phillips Center for the Performing Arts shine in front of an international audience while showcasing their performers' talent and theatre capabilities.

In the News

Meetings Net: Slam dunk for Kimpton near Orlando’s Kia Center

WFTV Orlando: Orlando International Airport plans $50 million renovation

WESH 2: Hundreds of musicians, artists coming to downtown Orlando

Orlando Business Journal: TikTok influencer @mrsblinks gave Visit Orlando summer campaign 5.4 million views