MOORE COUNTY SURPASSES $800 MILLION IN VISITORS SPENDING FOR 2023

Tourism Economy Grew 7.4 Percent and Remains 10^th Best in North Carolina

SOUTHERN PINES, NC (August 13, 2024) – In 2023, Moore County witnessed an unprecedented $805.1 million in economic impact from visitor spending representing a 7.4 percent increase from the previous year. Moore County remains the tenth highest tourism economy in the state, its highest ranking in history. The data comes from an annual study commissioned by Visit North Carolina, a unit of the Economic Development Partnership of North Carolina (EDPNC), and compiled by Tourism Economics in collaboration with U.S. Travel Association.

“Moore County continues to grow consistently every year from a tourism perspective and we are one of the most desirable leisure destinations in all of North Carolina,” said Phil Werz, president and CEO of the Pinehurst, Southern Pines, Aberdeen Area Convention and Visitors Bureau. “While these numbers reflect the calendar year of 2023, we know the report for 2024 will show even greater growth as we hosted the U.S. Open and we saw new places open like the World Golf Hall of Fame, Pinehurst No. 10, the BHAWK Distillery, and our first brewery in Carthage at The Buggy Factory. Add to that the amazing dining, shopping, our history, the arts, outdoor recreation and agritourism and we have something for everybody and for all ages.”

 Tourism impact highlights for 2023:

·        Moore County ranks tenth among 100 counties in North Carolina for annual visitor spending.

·        The tourism industry employs 6,000 people in Moore County, an increase of 7.1% from the previous year.

·        Tourism in Moore County saved each resident $532.10 in taxes. The state average was $518. The report also showed that $26.1 million in local taxes was derived from visitor spending in 2023, an increase of 5.6%.

·        State tax revenue generated by tourism in Moore County totaled $30.8 million, an increase from $28.9 million from 2022.

These statistics come from the “Economic Impact of Travel on North Carolina Counties 2023,” which can be accessed at: partners.visitnc.com/economic-impact-studies.

The report also provided visitor spending based on a variety of sectors. Overall, Moore County reports visitor spending totals for 2023 in these areas: Lodging ($203 million, up from $192 million in 2022); Food and Beverage ($242.1 million, up from $222.9 million in 2022); Recreation ($115.4 million, up from $101.7 million in 2022); Retail ($65.4 million, up from $63.6 million in 2022) and Transportation ($179.0 million, up from $169.2 million in 2022).

“The new study underscores the importance of tourism to every county in North Carolina,” said Wit Tuttell, executive director of Visit NC. “There’s a lot of competition for travelers’ time and money, and we owe our success to everything from the state’s scenic beauty and outdoor adventure to our mix of tradition and innovation and our welcoming spirit. Those qualities might be hard to measure, but we can follow the trail to a measurable impact on our workforce, our businesses and our tax base. We look forward to continued success.”

Statewide, visitor spending in 2023 rose 6.9 percent to reach a record $35.6 billion. Direct tourism employment increased 4.8 percent to 227,224.

Statewide Highlights:

• Total spending by domestic and international visitors in North Carolina reached $35.6 billion in 2023. That sum represents a 6.9 percent increase over 2022 expenditures,
• Domestic travelers spent a record $34.6 billion in 2023. Spending was up 6.8 percent from $32.4 billion in 2022.
• International travelers spent $997 million in 2023, up 9.5 percent from the previous year.
• Visitors to North Carolina generated nearly $4.5 billion in federal, state and local taxes in 2023. The total represents a 5.8 percent increase from 2022.
• State tax receipts from visitor spending rose 5.6 percent to $1.3 billion in 2023.
• Local tax receipts grew 5.4 percent to $1.2 billion.
• Direct tourism employment in North Carolina increased 4.8 percent to 227,224.
• Direct tourism payroll increased 6.6 percent to nearly $9.3 billion.
• Visitors spend more than $97 million per day in North Carolina. That spending adds $7.1 million per day to state and local tax revenues (about $3.7 million in state taxes and $3.4 million in local taxes).
• Each North Carolina household saved $518 on average in state and local taxes as a direct result of visitor spending in the state. Savings per capita averaged $239.
• North Carolina hosted about 43 million visitors in 2023.

The overall analysis for the report draws on the following data sources:

·        Spending and visitor profile characteristics for visitors to North Carolina based on OmniTrack survey data.

·        U.S. Census Bureau, Bureau of Economic Analysis, and Bureau of Labor Statistics: employment, wages, and sales data by industry and the value of seasonal and second homes.

·        STR (Smith Travel Research), AirDNA, and Key Data: hotel and short-term lodging performance data, including room demand, room rates, occupancy, and room revenue.

·        Federal Highway Administration and U.S. Energy Information Administration: automotive and gasoline price data.

·        Tax collections: lodging and total taxable sales tax receipts.

·        Tourism Economics: international travel data and overseas, Canadian, and Mexican travel to North Carolina based on aviation, survey, and credit card information.

To quantify the level of visitor activity in North Carolina, Tourism Economics combines a number of data sources that look at tourism from different angles to understand visitor economic contributions in North Carolina. The data provides insights from the visitor, local industry, and government perspectives to pinpoint the scope of the travel sector in terms of direct visitor spending, as well as the direct economic impacts, jobs, and fiscal (tax) impacts in the broader economy.

Tourism Economics calibrated the historical TEIM model to align with the official Travel and Tourism Satellite Account maintained by the Bureau of Economic Analysis, while maintaining consistency with historical growth rates.

Visitors in the context of this study include those who stayed in overnight accommodations or those who came from a distance greater than 50 miles and deviated from their The statistical model is based on highly detailed North Carolina data provided by Visit NC as well as data derived from federal and state government sources, nationally known private and non-profit travel organizations, and other travel industry sources.

The findings from the annual report are based on the 2023 calendar year. The Pinehurst, Southern Pines, Aberdeen Area CVB concluded its 2023-24 fiscal year on June 30^th with occupancy tax collections exceeding $3.9 million, an increase of 21.7 percent from the previous fiscal year.

The Pinehurst Southern Pines Aberdeen Convention & Visitors Bureau
The Convention & Visitors Bureau (CVB) is the economic development agency responsible for travel and tourism promotion, product development, and visitor services for Moore County, NC. The CVB devises strategies to enhance the County’s tourism brand value and product to accommodate the next generation of visitors, thereby stimulating the local economy and enhancing the quality of life for residents and visitors alike. In 2023, Moore County ranked as the tenth largest tourism economy in North Carolina, generating $805 million annually in visitor spending, which supports the second largest employment sector in the county and saves county residents approximately $532 a year in state and local taxes.

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