ACRO Global Tourism Marketer

FREE Download: “The Definitive Guide to Choosing the Best Google Search Agency for Your Business”
FREE Guide: Grow Your Business with Google
My New FREE Guide explains in plain English how Google Ads and SEO work, why you need to work with a professional agency, and how to find the best Google Search agency. Don't fall for PPC and SEO scams. Find the best agency for your business, and start making more money!
Get your FREE Guide!

COVID-19 will cost New England states $736M in hospitality and tourism tax revenues in 2020
By
19 August 2020 (Edited )

Share This Article

Oxford Economics

An analysis done by Oxford Economics for the American Hotel & Lodging Association (AHLA) projects that state and local governments of the New England States will lose more than $736M in hospitality and tourism tax revenues in 2020 as a result of the COVID-19 pandemic.

Here's a breakdown by state and tax category:

Also: according to a statement released 1 July 2020 by the Tax Policy Center of the Urban Institute & Brookings Institution, their forecast based on data from 27 states suggests that total tax revenues - including personal and corporate income taxes - of all 50 states combined are expected to fall $75B short of pre-COVID-19 forecasts for FY 2020 (ending 30 June 2020), and $125B short in FY 2021.


Stay-at-home orders significantly slowed consumer spending beginning in March, and the collapse of the jobs market devastated personal income tax revenues.

Anticipated tax revenue shortfalls for FYs 2020 and 2021 combined vary widely by state, from 3.5% for Iowa to nearly 18% for Hawaii.

With states making cuts to both public-sector jobs and basic services like education, health care and public safety, obviously publicly-funded destination marketing - think state tourist boards - will be taking a major hit. Stay tuned for updates on this developing situation.


David Boggs President/CEO ACRO Global|Publisher Tourism Marketer
David H. Boggs
President/CEO
ACRO Global
Publisher
TourismMarketer

View David Boggs's profile on LinkedIn

Google Certifications - David H Boggs
Subscribe to my blog


Website
Visit Website
Rating
5/5 based on 1 vote.
Show Individual Votes
Views 124 views. Averaging 124 views per day.
Related Articles
Post Reply


Quick Reply
Your Name:
Your Comment:


You may use BB Codes in your message.
Spam Prevention:

Previous Article | Next Article