For The Love Of Money

Wednesday, November 30, 2011

Tourism

New Orleans is and always has been a hotspot for exciting events. Our rich culture gives us a great distinction from every place else. Whether its young adults coming to enjoy the hysteria that is Mardi Gras, or slightly older generations venturing to hear various styles of music at Jazz Fest and Essence, they will have an extremely remarkable experience.

Throughout the recession, New Orleans tourism held strong. The thoughts of escaping their current life situation, to simply change their location entirely and enjoy themselves were ever so present in the minds of tourists. The number of visitors increases yearly from 7.2 million in 2008 to 8.3 million by 2010.

“Tourism is a mainstay of the area's economy,” said Mark Romig, CEO of New Orleans Tourism and Corporation. He continued, “It has been a workhorse in bringing back the city's economic health since the recession of 2008-2009. Tourism is New Orleans' largest employer and generates approximately $250 million in direct tax revenue to the city. ”

Even though Louisiana is the top state in tourist attractions in the country, easily beating out Texas and California, the industry still tries to grow.
“Each year the city's many events add to the economic health of the city - it is easy to see how these events grow larger from year to year,” said Dr. John Williams, Professor and Director of The University of New Orleans’ Hospitality Research Center. “The city is preparing for an unprecedented schedule of national and international events over the next 18 months, including two NCAA Final Four tournaments, the BCS National Championship and the Super Bowl. All of these events and more will have an historic impact on the city.”

New Orleans is truly exuberant, but the majority of tourists come here for a more relaxing time. Approximately 77 percent visit strictly for leisure, usually staying for 3 to 4 nights. This is a complete sentiment to how exotic our city is; almost as if New Orleans was a foreign country, like France or Italy. Tamer businesses such as restaurants and museums received a spike since Katrina.

“Tourism is a big driver to the economy. Its much bigger than people believe,” said Mr. Richiutti, Finance Professor at Tulane. “For instance, while someone might not work directly for a hotel or the airport, a large percentage of their business comes from Tourists.”

With all the fun around our city, you have to ask yourself, “What recession?”

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