The Rhode Island Commerce Corp., the official full-service, economic development organization for the State of Rhode Island, has announce the 2023 economic impact of visitors in Rhode Island, based on research conducted by Tourism Economics.
2023 data reveals:
- Visitor volumes grew 2.2% to a record 28.4 million people
- Visitor spending totaled $5.6 billion, an increase of 4.6% over 2022
- Rhode Island visitors sustained 86,612 jobs and generated $935 million in state and local tax revenues in 2023, a tax revenue increase of 3.5% from 2022, with a visitor economy impact of $8.3 billion.
"This record achievement is proof that Rhode Island is truly ‘All That!’" says Governor Dan McKee. "We will continue to make investments in tourism to support Rhode Island's economic resilience and showcase the unique experiences our great state has to offer to the world."
"Tourism plays a vital role in Rhode Island's economy by creating jobs, supporting our local businesses, and showcasing everything that makes our state a premier destination," said Rhode Island Secretary of Commerce Liz Tanner. "I applaud the dedicated efforts of the tourism team at Rhode Island Commerce and all others in the industry that helped reach this accomplishment."
"The economic activity generated from the travel sector represents a critical component of the state's current and future growth. The Commerce team will continue to work with our great partners, statewide, to support the upward trajectory of tourism and record-breaking visitation," said Anika Kimble-Huntley, Chief Marketing Officer of the Rhode Island Commerce Corporation.
The data also showed the stronger travel appetite in 2023 was reflected by steady day and overnight demand growth. Of the $5.6 billion spent in Rhode Island in 2023 by visitors, food and beverages contributed $1.4 billion in sales – representing 26% of total visitor spending. Lodging accounted for 22% of total visitor spending, including short-term rentals and the value of second homes, representing $1.2 billion of total visitor spending.
Air transport spending growth was also strong – increasing 10.2% in 2023. Spending on recreation grew at a solid pace of 7.5% to almost $1.1 billion, as visitors shifted preferences to more experiential spending.
Tourism Economics is an Oxford Economics company focused on combining an understanding of the travel sector with proven economic tools. More than 500 companies, associations, and destinations work with Tourism Economics every year as a research partner. Oxford Economics is one of the world's foremost independent global advisory firms, providing reports, forecasts, and analytical tools on 200 countries, 100 industrial sectors and over 3,000 cities.
