Success Flows Here
As a top tourist destination in Texas, New Braunfels receives millions of dollars in direct spending from out-of-town visitors each year. This direct economic activity stimulates the indirect businesses that provide goods and services to the hospitality industry. The sales and purchases related to tourism in New Braunfels supports thousands of jobs and millions in worker earnings. The main economic impacts are reported in terms of economic output, employment, and workers earnings. Economic output is the total value of the goods and services produced by the industry. Employment includes both full and part-time jobs in the industry. Workers’ earnings or earnings are the salaries or wages paid to the workers in the hospitality industry.
The economic impact metrics in the presentation below can be categorized into two main types of impacts. First, the direct economic impacts are defined as those that result directly from businesses in the hospitality industry. Second, this economic impact analysis calculates the indirect and induced impacts that result from the businesses in the hospitality industry. Indirect jobs and salaries are supported in area firms, such as maintenance companies and service firms, which may supply goods and services to the industry. In addition, induced jobs and salaries are supported in local businesses, such as retail stores, gas stations, banks, restaurants, and service companies that may supply goods and services to workers and their families. For simplicity, this report refers to direct and indirect impacts but it should be noted that the indirect portion includes both indirect and induced impacts.
Scroll through the presentation below. If you would like more details about the study and tourism's impact, feel free to contact us.