TheEconomicImpactofTravel
2024PreliminaryEstimates
MontereyCounty
Pageintentionallyblank
County 2024PreliminaryEstimates
Monterey
MontereyCounty/Summary TravelImpacts2024p
VisitortraveltoMontereyCountybegantoriseagainin2024.Thecounty welcomedmoreovernightanddayvisitorscomparedto2023,andspending associatedwiththesetravelersincreasedby5.7%.Theincreaseintravel activityledtoa2.6%increaseinemployment,surpassingpre-pandemic employmentlevelsforthefirsttime.Taxreceiptspaidbyvisitorstothecounty alsoincreasedby5.8%.
•TravelspendinginMontereyCountyincreased5.7%,to$3.1billionin 2024.
•Directtravel-generatedemploymentgrewby691jobs,a2.6% increaseover2023.
•Directtravel-generatedearningsincreasedto$1.8billion,againof8.0% comparedto2023.
•Taxreceiptsgeneratedbytravelspendingincreasedto$310.1million,a gainof5.8%comparedto2023.
In2024,travelspendinginMontereyCounty reached$3.1billion,markinga5.7%rise fromtheprioryear.
Note:TheseestimatesforMontereyCountyaresubjecttorevisionifmorecomplete databecomesavailable.Estimatesfor2024arepreliminary–thus“2024p.”
Note:Detailsmaynotaddtototalsduetorounding.Percentchangecalculatedonunroundedfigures.
MontereyCounty/DirectTravelImpacts
City-LevelSummaryTable,2024p
MontereyCounty/DirectTravelImpacts
DetailedTable
Note:Detailsmaynotaddtototalsduetorounding.
*OtherTravelincludesresidentairtravel,travelarrangement,andconvention/tradeshows.
MontereyCounty/DirectTravelImpacts
DetailedTable
Note:Detailsmaynotaddtototalsduetorounding.
*OtherTravelincludesresidentairtravel,travelarrangement,andconvention/tradeshows.
MontereyCounty/OvernightVisitorDetails
OvernightVisitorVolumeandAverageExpenditure
Overnightvisitorvolumefor MontereyCountyisbasedon cross-referencingvisitorsurveys andlodgingdata.Volume estimatesthereforewilldiffer frommethodologiesthatrely solelyonvisitorsurveys.Visitor Spendingisamorereliable metricthanVisitorVolumein accountingforchangesinthe travelindustry,asitismore closelytiedtoeconomicdata andlessensthevariabilityfrom visitorsurveys.Daytravel estimatesarenotincluded becauseofdatalimitations.
TotalEmployment
Note:Valuesmaynotaddtototalsduetorounding.Employmentincludesfull-timeemployees, part-timeemployees,seasonalemployees,andproprietors.
Valuesmaynotaddtototalsduetorounding.
Glossary KeyTerms
DestinationSpending
Homesunderprivateownershipforpersonaluseasaseasonalpropertywherealodgingtaxisnot collected.
Atripthatinvolvesnon-routinetravelofgreaterthan50milestothedestinationandbutno overnightstayinthedestination.
Directspendingmadebyvisitorsinadestination.Interchangeablewith“VisitorSpending.”
STVRstandsfor“shorttermvacationrental.”Thecategoryincludesprivateandsemi-private lodgingrentedbyownersorpropertymanagementcompanies(e.g.,Airbnb&VRBO).
Statetaxesgeneratedbytravelspending. StateTaxes
LocalTaxes
Cityandcountytaxesgeneratedbytravelspending.
Employmentgeneratedbydirecttravelspending.Itincludesfull-timeemployees,part-time employees,seasonalemployees,andproprietors. DirectEmployment
Totalafter-taxnetincomegeneratedfromtravelspending.Itincludeswagesandsalary disbursements,proprietorincome,andotherearnedincomeorbenefits. DirectEarnings
Spendingbyresidentsontravelarrangementservicesand/orspendingforconventionactivity.
Spendingbyvisitorsinadestination.
Accommodationtypesthathousetransientlodgingactivity.
Overnightvisitorswhostayinacampgroundor2ndhome.
Personalresidencesusedtohostfriendsandfamilyvisitingovernightinthedestination.
NorthAmericanIndustryClassificationSystem.
Privatelyownedhomesforpersonaluseasaseasonalproperty.
Atripmadebyapersontothedestination.
Methodology
TravelImpactsMethodology
ThedirecttravelimpactsreportedinthisanalysiswereestimatedusingDRA’sRegionalTravelImpactModel(RTIM).First developedin1985,thismodelestimatesdirectimpactsatalocallevelwithoutrelyingonannualsurveyresearch.The “bottomup”approachoftheRTIMinvolvesmodelingofprivateandpublicdataatthecountylevel,ensuringthatthefinal findingscorrespondcloselywiththevarioustravelindicatorsavailableforeachrespectivecounty.Resultsarethen aggregatedtoregionsandthestateordisaggregatedtothecitylevelbasedonrelevantindicatorsatthesegeographic levels.Theresultisadetailedprofileoftaxes,employment,wages,andspendingthatcanbetrackedconsistentlyovertime.
Theeconomicimpactassociatedwithdayvisitorsandovernightvisitorsisaprimarybreakoutincludedinthisreport. Lodgingtaxdataandsurveydataonvisitorexpendituresinformestimatesoftotalspendingassociatedwithovernight visitorswhostayincommerciallodginginthestudiedregion.DRAmaintainsitsourownexpendituredistributiondatabase foreachstateweworkin,withinputfrommultiplemajorsurveyproviders.Inventoryofcampgroundsarecollectedfor commercialandpublicsites,andoccupancyismodeledbasedonarepresentativesubsetofsites.Salesattributableto travelersstayingintheirsecondhomesarecalculatedfrominventoriesfromtheUSCensusandpublicinformationon averageutilizationrates.Visitationoffriendsandrelatives(VFR)isgenerallystableacrosstimeandgeography,theprimary driverforadestinationbeingthelocalresidentpopulation.Estimatesofvisitorspendingrelatedtodaytravelcanbedriven byseveralfactors,includingproximitytonearbypopulousareas,opportunitiesforrecreationandshopping,andinventoryof lodgingoptionscomparedtosurroundingareas.Baselineestimatesfordayvisitationarecalculatedasafactorofovernight visitation,thefactorbeingderivedfromregionalresultsofnationalvisitorprofiledata.
Spendingontravel-relatedactivitiestranslatesintojobs,earnings,andtaxes.Calculationofthesedirectimpactsrelieson publicdataonjobs,wages,andbusinessreceiptsbyindustryforeachgeographicalarea.Stateandlocaltaxesontravelrelatedbusinessalsofactorintotriangulatingdirecttravelimpacts.
Findingsinthisreporthavebeencomparedtovariouspublicandprivatedatasourcestoensurethattheeconomicimpacts estimatesareasaccurateaspossible.KeyprivatedatasourcesusedforpurposesofthisanalysisincludeSTR,KeyData, AirDNA,andOmniTrak.PublicdatasourcesincludetheUSCensus,BureauofEconomicAnalysis(BEA),BureauofLabor Statistics(BLS),EnergyInformationAdministration(EIA),BureauofTransportationStatistics(BTS),CaliforniaEmployment DevelopmentDepartment(EDD),andthecitygovernmentsofCarmel,Gonzales,Greenfield,KingCity,Marina,Monterey, PacificGrove,Salinas,Seaside,andSoledadinCalifornia.