Tourism in Montgomery County: a Billion-Dollar Business

THE WOODLANDS, Texas (February 27, 2008) – Tourism in The Woodlands and Montgomery County is a billion-dollar business, according to a report received today by The Woodlands Township Board of Directors.

The Perryman Group, an economic and financial analysis firm, presented the results of a 3-month study evaluating the financial impact of visitor spending in The Woodlands and Montgomery County.  The study shows that visitor spending currently generates an estimated $2.2 billion in annual aggregate spending, $1.3 billion in annual output, and more than 20,750 jobs.  Approximately 80% of this activity occurs within The Woodlands, with the remainder in other parts of the Montgomery/Harris County region. 

The Woodlands Township, in conjunction with The Woodlands Convention and Visitors Bureau, commissioned the study to determine the viability of a tourism-focused marketing campaign.  “Visitors to The Woodlands are already an important source of jobs and economic activity, and the investment in marketing efforts for the area have the potential to generate thousands of additional visitors and jobs and hundreds of millions of dollars in annual spending,” said Dr. M. Ray Perryman, President and CEO of The Perryman  Group.  “Tourism promotion campaigns have been shown to be quite successful, with well-crafted efforts generating substantial returns in the form of additional visits, economic activity and fiscal revenue.  Well-executed promotional campaigns are a worthy endeavor to build on existing momentum in the area.”

The study also revealed tourism’s impact on local tax receipts.  Occupancy taxes collected from local hotels have increased from $0.10 million in 1997 to $3.27 million last year.  Retail sales in The Woodlands Town Center area topped over $1.1 billion in 2007.