Press Release

Visitors Spend $1.14 Billion in Wake County in 2004;
That's $3.11 Million Every Day and $321 in Total Savings per Household in State and Local Taxes

 
Media Contact: Martin Armes, (919) 645-2654; marmes@visitraleigh.com
 

RALEIGH, N.C. (July 2005) -- Visitors to Wake County poured $1.14 billion into the local economy in 2004, or $3.11 million per day, according to the Travel Industry Association of America's (TIA) annual study.

Wake County ranks No. 2 among North Carolina's 100 counties in terms of visitor spending, trailing only Mecklenburg County ($2.7 billion). Rounding out the top five are Guilford County ($894 million), Dare County ($619 million) and Buncombe County ($539 million).

The Wake County total of $1.14 billion represents a 5.0 percent increase from last year's figure of $1.08 billion. Overall, the statewide increase for domestic visitors was 4.9 percent, up to $13.3 billion.

Visitor spending in the Capital City area generated almost $91 million in state ($57.38 million) and local ($33.35 million) tax receipts last year, according to TIA.

Equally important, those tax revenues generated $321.43 in total savings per local household in state and local taxes. Visitors to Wake County actually save residents taxes by generating tax revenues through their local spending that can be used for education, school construction, water, sewer and other necessities. If these tax revenues were not generated by visitors, the local taxpayers would need to provide the revenue if the level of service and amenities Wake County has were to be maintained.

The word "visitor" represents more than just tourists. In addition to tourists, it includes business travelers, convention delegates, day-trippers, families on a weekend getaway, and people visiting Wake County specifically for reasons ranging from shopping and dining, to cultural events and sporting events - just to name a few.

The Greater Raleigh Convention and Visitors Bureau (GRCVB) is a non-profit agency enhancing the economic growth and development of Raleigh and Wake County by increasing visitor and convention business. Through its website, VisitRaleigh.com and other tools, the GRCVB assists local visitors in a variety of ways.