Business Insights & Resources

Virginia Tourism Corporation Releases Positive Numbers for Lynchburg

Posted by Lynchburg EDA on Oct 5, 2018 12:46:24 PM

The Virginia Tourism Corporation recently announced their 2017 tourism revenue statistics for the Commonwealth, which provided positive insight into the growth the City of Lynchburg has seen. This report, which documents all domestic travel for all Virginia counties in the entire year, represents 133 counties and independent cities and highlights travel expenditures, travel-generated employment and payroll income, as well as tax revenues for federal, state and local government.

According to the US Travel Association, tourism in Virginia generated $25 billion in travel spending. The tourism industry supported 232,000 jobs in the Commonwealth and $1.73 billion in state and local taxes. The increase is largely attributed to Virginia’s tourism development all around the state, including: new hotels, restaurants, agritourism, craft breweries, wineries, distilleries, cideries, sports, outdoor recreation, festivals and events, music venues, wedding venues, meeting and convention venues, attractions and so on. Virginia’s changing tourism product makes the Commonwealth a destination for authentic travel experiences and thriving communities.

A highlight of those numbers specific to Lynchburg is as follows:

2017 Domestic Travel Impact on Virginia, Percent Distribution for Lynchburg

Expenditures: 0.8%

Payroll: 0.6%

Employment: 0.7%

State Tax Receipts: 0.8%

Local Tax Receipts: 1.1%

2017 Domestic Travel Impact on Virginia, Ranking of Lynchburg Among 133 Counties

Expenditures: 185.81

Payroll: 37.54

Employment: 1.69

State Tax Receipts: 8.35

Local Tax Receipts: 7.26

2017 Domestic Travel Impact on Virginia, Percent Change from 2016 for Lynchburg

Expenditures: 2.5%

Payroll: 2.7%

Employment: -0.5%

State Tax Receipts: 1.2%

Local Tax Receipts: 0.7%

Recent Lynchburg Growth That Impacts These Numbers

Recent additions to the lodging scene in Lynchburg—specifically with the restoration and re-opening of The Virginian and the opening of the Residence Inn—adds to the growth and availability options that are available to travelers coming in to the Lynchburg area.

Statewide, the hotel industry had a robust year with all performance indicators rising in 2017 according to VTC’s report. Both room demand and supply grew by 1.7% and 0.9% respectively. Average daily rates in Virginia hotels reached to $109.66, with an increase of 2.2% improved revenue per available room by 2.9%.

Ready to make your own trip to Lynchburg? Visit our website to plan your stay.