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US attraction industry growing at twice the rate of the economy

By Tom Anstey    11 Jul 2013

New research conducted by Tourism Economics shows that the attraction industry in the US has grown nearly twice the rate of the rest of the economy between 2004-2011.

According to research conducted by Oxford Economics for the International Association of Amusement Parks and Attractions (IAAPA), in 2011 alone the US attractions industry generated a total economic impact of almost US$219bn (£146bn, €170bn) - a huge increase compared to 2004 when it had an impact of US$146m (98bn, €114bn) over the year.

Theme and water parks had the largest economic impact, generating US$122bn (£81bn, €93.5bn) in total economic activity, while museums and family entertainment centres generated US$37bn (£34.5bn, €28.3bn) and US$32bn (£21.2bn, €24.5bn) respectively.

Florida benefited the most from tourism, with its total economic impact at US$47.7bn (£31.6bn, €36.5bn) for 2011, creating almost 500,000 jobs in the process.

California benefits second most from its economic impact coming in at US$38.2m (£25.3m, €29.2m) while New York finished in the third spot at US$10.2bn (£6.7bn, €7.8bn).

In addition to the economic impacts, the attractions industry also generated significant fiscal (tax) impacts at all levels. In 2011, the industry generated more than US$22bn (£14.5bn, €16.8bn) in federal taxes and nearly US$19bn (£12.5bn, €14.5bn) in state and local taxes. Theme and water parks generated more than US$12bn (£7.9bn, €9.2bn) in federal taxes and nearly US$11bn (£7.2bn, €8.4bn) in state and local taxes.

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