Tourists spent $28.2B in Colorado last year, representing nearly 4% growth in spending

DENVER (KDVR) — Colorado’s tourism industry grew in several aspects during 2023, according to the Colorado Tourism Office, which reported that the state’s tourism industry created $28.2 billion in travel spending from about 93.3 million visitors.

Travel spending, boosted by inflation prices, increased by 3.9% to $28.2 billion last year, and half of the growth is attributed to the Denver metro and Front Range counties, according to a report prepared for the Colorado Tourism Office by Dean Runyan Associates. The report also found that when considering the reduced purchasing power of a dollar, the revenue only increased by 1.8%.

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A second report by Longwoods Travel USA shows that visitation increased by 3.6%, up from 90 million visitors in 2022. Reflecting those changes, state and local tax revenue grew to a combined $1.8 billion last year, which is 5.7% more than in 2022.

“Colorado’s outdoor recreation, thriving communities, cultural heritage, and booming industries continues to draw millions of visitors to our state each year, strengthening local economies in all four corners of the state. Every day is a great day to celebrate our world-renowned and growing tourism industry,” said Governor Jared Polis in a release.

Denver area contributed almost 50% of tourism spending

Part of the growth could be attributed to Denver’s record-setting year of tourism: 37.4 million domestic visitors were reported to have come to Denver in 2023, generating $10.3 billion in tourism revenue. That spending growth represents a nearly 10% growth.

“We’re encouraged by the consistent growth we saw in 2023, with Denver and the Front Range playing key roles,” said Timothy Wolfe, Colorado Tourism Office Director. “Our focus for 2024 is to continue highlighting Colorado’s diverse attractions, welcoming more international visitors and supporting all destinations across the state.”

The statewide reports found that travel-generated employment created about 9,450 jobs last year, for a total of about 187,710 jobs in Colorado’s travel industry in 2023. The new jobs represented a 5.3% increase compared to 2022. In non-direct travel-generated employment, accommodations and food services grew by 3.3%, or 3,320 jobs, in 2023. The Arts, Entertainment and Recreation sector saw 8.7% growth through the creation of 3,760 jobs, according to the state’s reports.

Some of the salient points in the reports included:

• Overnight business trips increased by 7% from 2022

• The top three activities for overnight visitors to Colorado were shopping, sightseeing and “attending a celebration”

• 85% of overnight travelers were repeat visitors

• The average length of overnight stays was 3.5 nights

• Travelers spent about $13.9 billion in the Denver area alone, which is 49.3% of the statewide spending

The majority of Colorado’s overnight trip takers were from Colorado, according to the state’s reports. Coloradans made up 26% of overnight trip takers, followed by Californians at 12%, Texans at 8%, New Yorkers at 6%, and Florida at 3%.

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The most overnight trips were taken during July through September, and the average size of the travel party was 2.9 people. Additionally, 63% of overnight travelers used their own car to get to their destination, which is down from 65% in 2022. Confusingly, around 4% of travelers arrived to their destination by boat.

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