TRENTON, NEW JERSEY (May 11, 2023) – The New Jersey Division of Travel & Tourism has released the “2022 Economic Impact of Tourism in New Jersey” study at the New Jersey Tourism Industry Association’s (NJTIA) annual Advocacy Day event today, heralding the industry’s near complete recovery with forecasts to break 2019 records in the current year.
Annual visitor volume rebounds to 99% of 2019 volumes
According to the state’s independent research partner, Tourism Economics, visitation to New Jersey increased 18.6% over 2021, with the state welcoming 114.6 million total visitors, approximately 1.6 million visitors shy of 2019’s record highs. These numbers exceeded previous projections, reflecting strong demand for New Jersey’s travel product and robust growth in both day and overnight visitor categories.
Visitor spending reaches 98% of 2019 levels; total day-visitor spend breaks records
Visitors to the Garden State spent $45.4 billion in 2022, an increase of 22% over the previous year, recovering to 98% of 2019 levels. Total expenditure by day visitors hit an all-time high of $5,697 million, beating former 2019 figures by roughly 27%. Spending grew across all sectors, with overall visitor spend generating a total economic impact of $73.5 billion for the state and a total of $5.0 billion in state and local tax revenues.
As visitor volume continues to rebound with the removal of travel restrictions and the reopening of international borders, data reveals that visitors are spending more on trips to New Jersey.
“We’re very pleased to report such positive tourism statistics for our state, resulting in strong economic impacts,” said New Jersey Gov. Phil Murphy. “Visitors spent more than $45 billion in the Garden State last year, contributing nearly $124 million each day to strengthening our economy. It is gratifying to know that so many friends of New Jersey appreciate its beauty and seek to experience all that we have to offer. We look forward to an even stronger year ahead in 2023.”
All spend categories hit double-digit growth: Food & Beverage achieves 100% recovery
Recreation, one of the hardest hit categories during the pandemic, grew fastest in 2022, increasing 30% year-over-year to 97% of 2019 levels. Food and beverage spending by visitors to New Jersey grew 20% relative to the prior year to meet pre-pandemic levels. The lodging sector increased 18% over 2021, recovering nearly 99% of its 2019 level, contributing $12.3 billion in visitor spend. Aided by the cost of fuel, transportation within the destination reached 101% of 2019 spending.
“With spending increases across all tourism categories last year, it is critical to emphasize that all traveler activity in the Garden State will continue to re-energize the state’s economy with significant direct, indirect and induced revenues,” said New Jersey Secretary of State Tahesha Way. “This is evident in the $5.0 billion generated in state and local taxes alone, which equaled $1,470 in tax savings for each and every household in New Jersey.”
Tourism and travel industry supports nearly 480,000 state jobs
“Visitors are vital contributors to New Jersey’s overall economic health, and they supported 8.3% of all jobs throughout the state last year or 1-in-12 jobs overall,” said New Jersey Division of Travel and Tourism Executive Director Jeff Vasser. “Not only does this provide employment for our residents, it demonstrates the success of changes implemented in recent years in how our industry recruits, develops, and retains employees. This ensures a welcoming experience and encourages repeat visitation. We applaud our industry’s efforts for such a successful year.”
Key findings from the “2022 Economic Impact of Tourism in New Jersey” study
- New Jersey welcomed 114.6 million total visitors in 2022, up 18 million from 2021, with visitation increasing over 18% and rebounding to 99% of 2019 volumes.
- Visitors spent $45.4 billion in New Jersey in 2022, up $8.2 million from 2021, or 98% of 2019 levels, with overall spend by day visitors breaking previous records at $5,697 million, a 27% increase over 2019 figures.
- Visitor industry GDP was $21.8 billion in 2022, accounting for 2.9% of total New Jersey GDP, an increase of 0.3 percentage points over the 2021 share.
- Spending by visitors across all categories showed double-digit growth with recreation growing the fastest in 2022 by 30% over the previous year and food & beverage and lodging each contributing $12.3 billion in visitor spend.
- Visitor spending generated $5.0 billion in state and local taxes in 2022, equivalent to $1,470 in tax savings for every household in New Jersey.
- Tourism supported over 479,588 New Jersey jobs (1-in-12) representing 8.3% of all jobs in the state.
Visitor volume and spend forecasts expected to rise above 2019 former records in 2023
This year, visitor volumes and spending are projected to rise above 2019 levels for the first time, signaling tourism’s full recovery and return to previous growth tracks. Additionally, visitor spending is forecast to increase nearly 10% to reach $49.8 billion in 2023, representing 107% of pre-pandemic levels.
Important resources
The “2022 Economic Impact of Tourism in New Jersey” study, prepared by Tourism Economics, can be found in its entirety at https://visitnj.org/sites/default/files/2023-05/2022_Tourism_Economic_Impact_Study.pdf.
###
About New Jersey
New Jersey offers a wide variety of experiences to visitors all year long. Tourists and residents can enjoy outdoor adventures, renowned culinary offerings, educational opportunities, and a strong arts and cultural scene. With numerous state and national parks, beaches, skiing, tax- free shopping, historic sites, museums and more, New Jersey blends together its rich history and exciting present. Home to the nation’s first beach resort and the birthplace of major inventions, New Jersey offers a picturesque escape and dynamic opportunities for visitors from near and far. For more information, visit www.visitnj.org. Follow the New Jersey Division of Travel and Tourism on Facebook, Instagram, Twitter and YouTube for more events and news throughout the state.
Media Contacts:
Lou Hammond Group
Cathy A. Preece | Victoria Polansky
Tel: 212-891-0228 | 212-891-0238
Email: cathyp@louhammond.com | victoriap@louhammond.com
