How the Cycle of Tourism Benefits Wake County Residents

Tourism U is a program run by the Greater Raleigh Convention and Visitors Bureau (GRCVB). It aims to educate stakeholders about the significance of tourism in Wake County. This education helps improve the local area's quality. A key concept in the program is the Cycle of Tourism, which explains how tourism operates in Raleigh/Wake County throughout the year.

The Cycle starts with GRCVB promoting local businesses to potential visitors from within the state, region, and internationally. The goal is to attract these visitors to spend money locally. Various GRCVB departments work together to encourage new and repeat visits, which boosts the local economy.

Visitors come to Raleigh and Wake County for various reasons and spend money on a range of services. This spending is subject to several taxes, including state and local sales taxes, a hotel occupancy tax, and a prepared food & beverage tax.

The taxes collected are put into the Interlocal Fund. The revenues from this fund are then invested locally, with some funds going to GRCVB, the Raleigh Convention Center, and the development of new attractions. In 2022, the total tax revenue from tourism was $287 million, which saved the average Wake County household $601 on their property taxes annually.

The Cycle of Tourism ends with GRCVB using some of the Interlocal Fund to increase visitation and the hospitality sector tax base each year. This means that visitors are contributing to improving the lives of residents each year. The more visitors that are attracted, the more the area's quality of life can be improved. This Cycle of Tourism doesn't require resident dollars to support GRCVB's sales & marketing efforts.

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