OKLAHOMA CITY Research conducted by Tourism Economics found that visitors to Oklahoma City generated an economic impact of $4.5 billion from 24.1 million visitors in 2023.
“It really validates tourism is on the rise. We hit again high-water marks across the board,” said Zac Craig, president of Visit OKC.
Visitor volume increased 4% over the previous year, and those 24.1 million visitors spent $2.7 billion on food and beverages, lodging, entertainment, transportation and shopping.
That direct spending generated another $1.8 billion in indirect and induced impacts, resulting in a total economic impact of $4.5 billion in the Oklahoma City economy, according to the report from Tourism Economics.
The total economic impact sustained 34,897 jobs for $1.4 billion in total labor income and generated $358 million in state and local tax revenues in 2023.
Local tax revenues from visitor activity rose to $216.4 million with sales taxes, property taxes, room taxes and fees supporting local government revenues, Craig said.
“That’s pure economic development at its finest,” he said. “We don’t have to pay for their kids to go to school or deposit money into their 401K.”
But they may come to college here, choose to retire here or move their business here, Craig said.
“Today’s visitors become tomorrow’s residents. Tourism impacts perceptions of our city which intersects with economic development as new businesses look to relocate here,” said Christy Gillenwater, Greater OKC Chamber president and CEO.
Craig said there still is real opportunity for growth that could benefit both residents and visitors.
An example is the $400 million OKANA Resort & Indoor Waterpark that is on track to open by spring break 2025 along the Oklahoma River.
“It will be another year-round tourism generator. It’s really going to be spectacular for us. It will bring a brand new consumer to the market,” Craig said.
“I see tourism in Oklahoma City as a growth stock. Now is the time to keep investing,” he said.
City residents will decide whether to increase the city’s hotel tax by 3.75% on Aug. 27 to boost convention and tourism promotion. If approved, it would generate $11 million per year for Visit OKC, Craig said.
A portion of the new tax dollars (11.7%) would be used for capital improvements at the Oklahoma City Convention Center and the OKC Fairgrounds, where the 216,164-square-foot OG&E Coliseum is under construction.
“The fairgrounds continues to be our cash cow. It’s so instrumental for us,” Craig said.
Equine and livestock shows on average involve a much longer stay, often 7-10 days, and bring in some of the highest-spending visitors, Craig said. They’re not just buying clothing but also furniture and even RVs, he said.
Maximizing all the first-tier assets coming online takes financial incentives and tourism promotion to “elevate our brand and expand our reach,” Craig said.
Visit OKC reports its initiatives have demonstrated a large return on investment, with every dollar yielding $68.55 in return for the city. This ROI underscores the critical role that Visit OKC plays in promoting tourism, which is Oklahoma's third-largest industry, Craig said.
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