I recently read this month’s issue of a statewide magazine focused on the business community here in Virginia. This month features a look at the economic climate throughout the commonwealth. They asked five CPAs from different regions a series of questions about the overall economic climate, impediments to economic growth, what their respective region is doing well and any major economic development news. In addition to these five Q&As, there was a separate and unrelated article in the magazine about boom times in Frederick County, which is about 60 miles west of Washington, DC.
I don’t intend to pick a fight with any of the insights the contributors chose to offer. I am, however, shocked that not one of them mentioned tourism.
Travel and tourism – which includes people who travel for business, conferences and sporting events as well as leisure travel – supported 229,300 jobs in 2016. The travel industry is the fifth largest private employer in Virginia. Traveler spending generated $3.3 billion in tax revenue for federal, state and local governments. I think that’s a pretty big deal worth mentioning. If you agree, please share this.