JON S. CORZINE
Governor, Chair

VIRGINIA S. BAUER
Commerce CEO/Secretary

FOR IMMEDIATE RELEASE
March 29, 2007

Contact: Karen Wolfe
609.292.2523

New Jersey's Tourism Engine Steams Forward

Study Shows 2006 Visitor Expenditures Increased 5.1%

Atlantic City—New Jersey’s tourism industry continued to charge ahead for travel year 2006, according to Governor Jon Corzine and Commerce Secretary Virginia Bauer. The figures, presented today at the 2007 Governor’s Conference on Tourism show visitor expenditures grew to $37.6 billion in 2006, a 5.1% increase.

“Tourism is one of the most vital contributors to the New Jersey economy and has distinguished itself as one of our greatest assets,” said Corzine. “That’s why my Administration has remained committed to improving, developing and expanding tourism, making it an integral component of the state’s Economic Growth Strategy.”

Overall visitation grew by 1.2% to almost 71.1 million while overnight visitation rose 4.2%. Visitors from other states continue to represent the largest portion of expenditures in New Jersey at 69%. New Jersey residents represent 29% of all visitors to the state.

Each visitor to New Jersey generates:

• about $522 in expenditures
• about $100 in tax receipts, $56 of which goes to state and local authorities
• $222 in wages paid to workers
• $375 in Gross State Product and
• for every 143 visitors, one New Jersey job is created

In addition to growth in expenditures, the Global Insight Study showed growth in tourism-related jobs and wages. In 2006, the tourism industry created more than 480,000 jobs, a 2.9% increase over the previous year. This means that 1 out of every 9 New Jersey workers is employed in a tourism-related job. Wages and salary for workers grew to $16.0 billion, a 6.2% increase.

“New Jersey has experienced another vigorous year for travel and tourism, creating jobs and spurring development projects,” noted Commerce Secretary Virginia Bauer. “Through increased capital investment in attractions and accommodations as well as the programs and products that broaden tourism markets, we have much to be proud of in our efforts to promote and expand this multi-billion industry in the Garden State.”

Tourism generated $7.5 billion in federal, state and local tax revenues in 2006, a 3.4% increase. According to the study, tourism activity generated $4.3 billion in state and local tax revenues, a 3.4% increase.

If tourism didn’t exist, each New Jersey household would pay $1,368 more in taxes to maintain the current level of state and local tax receipts.