Tax Day Reminder: Tourism Saves Each FL Family More Than $1,500 Annually
April 15, 2019
TALLAHASSEE, Fla. – Today, VISIT FLORIDA, the state’s official tourism marketing corporation, reminds Floridians that without the tax revenues generated by travel and tourism to the state, every Florida household would have to pay an average of $1,549 in additional taxes every year in order to keep state funding levels the same.
VISIT FLORIDA President and CEO Dana Young said, “This Tax Day, we are proud to highlight the critical economic role that tourism plays in Florida, and how every household in Florida benefits from out-of-state visitation. Saving $1,549 in taxes is a great deal for Floridians and something the tourism industry is proud to generate. At VISIT FLORIDA, our job is to enhance and protect this vital industry and revenue source. The Florida Legislature shouldn’t cut VISIT FLORIDA’s budget and risk a significant drop in tourism dollars. VISIT FLORIDA fully funded at $76 million is a smart investment. A cut in funding could place a heavier tax burden on Florida citizens and strain state budget revenue. The Legislature should reauthorize and fully fund VISIT FLORIDA at $76 million.”
According to The Economic Impact of Out-of-State Visitors in Florida, released last year by Tourism Economics, in 2016, out-of-state tourism generated $11.6 billion in state and local taxes. The U.S. Census Bureau estimates there were more than 7.5 million Florida households from 2013 to 2017. This equates to an annual tax savings of $1,549 per household.
By every measurable economic indicator, tourism stimulates Florida’s economy and creates jobs unlike any other industry. As the Sunshine State's number one industry, tourism was responsible for welcoming an all-time record 126.1 million visitors in 2018. According to the Florida Legislature’s Office of Economic and Demographic Research, for every $1 the state invests in VISIT FLORIDA, $2.15 in state tax revenue is generated.
For more information about the power of Florida’s tourism industry, click here.