At least five ingredients are predicted to give Myrtle Beach tourism a ‘good year’
Myrtle Beach tourism is expected to slow during the first half of 2023 due to an expected economic downturn, but the overall visitation numbers are expected to match 2022, according to tourism officials.
Tourism Economics operates out of regional headquarters in Philadelphia and Oxford with offices in Belfast, Buenos Aires, Dubai, Frankfurt, London and Ontario. It employs economists that specialize in the tourism sector.
“We see good things for the travel sector across the nation, and we have no reason to expect any different in Myrtle Beach,” Geoff Lacher of Tourism Economics said in a news release “The destination is going to have a good year next year as well.”
Lacher gave an online presentation hosted by The Myrtle Beach Area Chamber of Commerce and Convention and Visitors Bureau. According to the Tourism Economics’ data, Myrtle Beach “is expected to experience visitation numbers similar to 2022, yet at a slightly slower pace due to an expected downturn in the economy during the first half of 2023.”
Here is what is driving Myrtle Beach tourism in 2023
There are at least five things that will help visitors find and spend their time and money in Myrtle Beach, according to Lacher and his data:
- Continued pent-up demand for travel following the pandemic
- Increased gains seen in the business and group travel sectors
- Declining gas prices
- Fiscally strong households and businesses
- Strong momentum for travel heading into the new year
“The CVB is increasingly marketing the destination as a place to visit during the cooler months, including showcasing the region’s abundance of holiday and winter activities such as the Myrtle Beach Bowl held on Dec. 19,” chamber and CVB President and CEO Karen Riordan said in the release. “These efforts maintain tourism and sustain our economy and employment opportunities year-round.”
Riordan says that tourism marketing can help grow the local economy and keep the tax burden low for residents.
A new study from Longwoods International shows that every $1 invested in a Myrtle Beach advertising campaign generates $180 in direct visitor spending and $24 in local tax revenues, according to the release.