In 2023 $28.2 billion in travel spending, a 3.9% increase, and 93.3 million visitors, a 3.6% increase, drove steady statewide tourism growth

DENVER - On August 5, 2024 the Colorado Tourism Office (CTO), a division of the Colorado Office of Economic Development and International Trade (OEDIT), released the 2023 annual tourism industry research reports that showed Colorado’s continued strong and steady tourism growth with $28.2 billion in travel spending and 93.3 million visitors in 2023, boosting our statewide and local economy.

According to the Dean Runyan report, travel spending in Colorado increased by 3.9% from $27.2 billion in 2022 to $28.2 billion in 2023. Half of this growth is attributed to the Denver Metro Area and Front Range counties. The Longwoods Travel USA Report indicates that visitation to Colorado increased by 3.6%, with a total of 93.3 million visitors in 2023 compared to 90 million in 2022. State and local tax revenue also grew to a combined $1.8 billion in 2023, a 5.7% increase from the previous year.

“Colorado’s outdoor recreation, thriving communities, cultural heritage, and booming industries continues to draw millions of visitors to our state each year, strengthening local economies in all four corners of the state. Every day is a great day to celebrate our world-renowned and  growing tourism industry,” said Governor Polis.

Direct travel-generated employment created approximately 9,450 new jobs, totaling 187,710 in 2023, a 5.3% increase compared to 2022. The Accommodations and Food Services sector saw significant growth, adding 3,320 jobs, a 3.3% increase from the previous year. Additionally, the Arts, Entertainment and Recreation sector grew by 8.7%, creating 3,760 jobs. Overnight business trips increased by 7% from 2022. The top three activities and experiences for overnight visitors to Colorado in 2023 were shopping, sightseeing and attending a celebration.

"We're encouraged by the consistent growth we saw in 2023, with Denver and the Front Range playing key roles,” said Timothy Wolfe, Colorado Tourism Office Director. “Our focus for 2024 is to continue highlighting Colorado's diverse attractions, welcoming more international visitors and supporting all destinations across the state."

Other notable impacts from the Longwoods International and Dean Runyan Associates studies include:

- 85% of overnight travelers were repeat visitors in 2023.
- 62% of overnight travelers to Colorado had visited before in the past 12 months.
- For 2023 overnight visitors, the average length of stay was 3.5 nights.
- Direct travel-generated earnings grew from $8.7 billion in 2022 to $9.9 billion in 2023, an increase of 13.3%.
- Earnings from Accommodation & Food Services grew from $4.1 billion to $4.4 billion, an increase of 7.9%.
- Travelers spent approximately $13.9 billion in the Denver region alone in 2023, making up 49.3% of the statewide total.

In addition to promoting economic development, the CTO continued its focus on destination stewardship. Launched in May 2023, the Destination Stewardship Strategic Planning Initiative aims to balance the quality of life for residents and the visitor experience while enhancing Colorado's environment, cultures and communities. The output will include a statewide destination stewardship plan as well as eight regional plans, available to the public in September 2024.

To view the full reports for Colorado Travel Impacts 2023 (Dean Runyan Associates) and Colorado Travel Year Report 2023 (Longwoods International), visit https://oedit.colorado.gov/tourism-research.