Record Tourism Spending in Buncombe County Nears $3 billion

Record Tourism Spending in Buncombe County Nears $3 billion

In a remarkable precedence, North Carolina’s Buncombe County hit an all-time high in tourism spending last year. A recent study revealed that visitors’ expenditure in the county reached $2.97 billion, marking a 3% increase from 2022.

A Tourism-Dependent Region

Buncombe County, particularly the city of Asheville, heavily depends on tourism for economic support. The numbers from the study validate the sector’s importance, demonstrating that tourist contributions to the area have surpassed previous records.

The county, with its enormous appeal and vibrant tourist scene, drew nearly 14 million visitors. This represents an astounding ratio of one visitor for every seven county residents on any given day in 2023.

Sector-wise Tourism Spending

The study provides a detailed breakdown of where visitors expended their dollars. Lodging topped the list with $901 million, followed by food and beverages taking a close second position at $787 million. Retail and transportation accounted for $541 million and $372 million respectively, while recreation and entertainment amounted to $366 million.

These figures reveal the elaborate economic web spun by tourism in Buncombe County. Each dollar spent by a visitor not only impacted the specific sector but also helped expand the county’s overall economic vibrancy.

A Change in Budget Strategy

Despite the booming tourism sector, the Buncombe County Tourism Development Authority approved a slightly smaller budget for 2025. This decision emerged in response to a legislative change two years ago aimed at diverting more funds into community capital projects and less into marketing.

The new legislation emphasizes working smarter and harder to encourage tourists, conferences, and events to choose Asheville as their preferred destination. Leveraging community partnerships is fundamental to this approach.

Implications on Tax Revenues

Beyond direct business profits, the visitor economy also significantly boosted local and state tax revenues. The study estimates tax revenues generated by the tourist economy at approximately $265 million in 2023.

Tourism contributes 20% to Buncombe County’s total economy, and a fifth of city and county government revenues are derived from visitors. Visitor spending thus bolsters both businesses and public services, creating a healthy equilibrium between local interests and tourist contributions.

Comparative Performance

Despite its impressive performance, Buncombe County was third in North Carolina’s visitor economies. It ranked just behind Wake County, which includes Raleigh, and Mecklenburg County, which includes Charlotte.

As the county forges ahead with its community-centered approach to tourism development, it would be interesting to see if it manages to close the gap with the frontrunners in the coming years.