Beverly Hills Generates Record Volume and Strong Growth and Residents Continue to Shop and Dine in the City
Growth surged in 2016, with Beverly Hills Annual Visitor Volume Rising to More than 7.4 Million and More than $2.7 Billion of Combined Visitor and Resident Total Spending in the City
(BEVERLY HILLS, CA; NOVEMBER 6, 2017) Beverly Hills Conference & Visitors Bureau (BHCVB) recently updated its visitor profile and economic impact study* that measures and tracks tourism’s contributions to the city. The visitor profile study focuses on visitor** activity for 2016 and also compares results and trends to 2014 when the study was last conducted. The current study reveals record visitor volume and spending levels with strong tourism growth in Beverly Hills — In fact, more than 7.4 million visitors ventured to Beverly Hills in 2016, versus the six million visitors in 2014, an increase of nearly 23 percent. Consistent with national trends, the city’s international visitation declined in 2016, now accounting for 50 percent of the city’s total visitors versus 63 percent in 2014, while domestic travel rose to 50 percent in 2016 versus 37 percent in 2014. The report also included a section on the shopping behaviors of Los Angeles County residents.
The main purpose of the study is to assess the economic contribution that travel makes to the city. In 2016, more than $2.8 billion was generated in direct and indirect revenue from visitors, with $56.6 million, 26% of the city’s general fund revenue, generated in associated lodging and sales tax. Visitor traffic also supports nearly 13,000 Beverly Hills jobs and saves each resident household more than $3,100 in equivalent city services.
“The contribution that visitors make to our city is incredible. Tourism continues to be a key factor in our city’s economic vitality and it is critical that we continue to provide a warm and welcoming reception when they visit,” states Julie Wagner, Chief Executive Officer, CDME, at Beverly Hills Conference & Visitors Bureau.
“We are so fortunate to have a city council that is open to new initiatives and a Mayor who isn’t afraid to take charge in bringing activities like BOLD (Beverly Hills Open Later Days) to fruition in effort to keep our city relevant and exciting.”
The comprehensive Beverly Hills Visitor Profile and Economic Impact Study reports detailed statistics and growth across a range of tourism indicators for 2016 compared to 2014, including:
- Total annual visitor days in Beverly Hills grew to 8.9 million in 2016, a 23 percent rise from 2014.
- Beverly Hills hotels generated $40 million in Transient Occupancy Tax (TOT), an 18 percent increase over 2014.
- Visitor spending in Beverly Hills generated retail sales tax to the city of more than $15 million, a 32 percent surge from 2014.
- Of visitors’ major spending categories, retail totaled $1.3 billion, accounting for a 61 percent share of total visitor spend.
- Lodging and sales tax generated by visitors represents just over 26 percent of the City’s General Fund.
Beverly Hills Conference & Visitors Bureau conducted the visitor profile and economic impact study with Lauren Schlau Consulting, a Los Angeles market research firm specializing in the travel and tourism industry. The firm conducted similar studies which analyzed the same visitor numbers and trends in 2004, 2007 and 2014 so as to track visitor trends and growth in the market over time.
This is the first time the Resident’s Study was conducted as part of the Beverly Hills Visitor Profile and Economic Impact Study.
To learn more about tourism and travel trends in Beverly Hills, visit www.lovebeverlyhills.com or follow on Facebook and Twitter.
* Lauren Schlau Consulting; for calendar year 2016
** Visitors are considered anyone who resides outside of Los Angeles County
**** Survey results include an error factor of +/- 3.6 percent
About Beverly Hills
Beverly Hills is one of the world’s most sought-after locales. Centrally located in greater Los Angeles, Beverly Hills is a premier vacation and business travel destination, boasting beautiful weather year-round, acclaimed full-service and boutique hotel accommodations, sumptuous dining, and incomparable shopping. Synonymous with Hollywood glamour, Beverly Hills enjoys an international reputation as the home and playground of A-list movie stars. The city is not only known worldwide for its grand mansions and chic shops along Rodeo Drive, but also for its multitude of art and architecture, spas and salons, and exceptional walkability. Learn more at www.lovebeverlyhills.com or on Facebook and Twitter.