The oceanfront and outdoor amenities of Virginia Beach helped the city welcome 14.1 million visitors in 2023 with an economic contribution of $3.8 billion.
On average, visitors spent nearly $7 million per day in Virginia Beach, according to an economic impact study by the Virginia Beach Convention and Visitors Bureau.
Total visitor expenditures reached an impressive $2.5 billion, reflecting a $100 million increase over the previous year.
This influx generated substantial economic impact, with both indirect and induced effects contributing to an overall economic contribution of $3.8 billion for 2023.
“Our recent economic impact study underscores the incredible appeal of Virginia Beach as a travel destination,” said Nancy Helman, Virginia Beach Convention and Visitors Bureau director. “Welcoming 14.1 million visitors and generating $3.8 billion in economic impact is a testament to the diverse experiences we offer and the hard work of our tourism industry. This growth not only enhances our local economy, but also strengthens our community as a whole.”
The study, centered on the expenditures of Virginia Beach tourists in 2023, was undertaken by Tourism Economics, a subsidiary of Oxford Economics, utilizing an array of local and nationwide data resources and survey instruments.
“These findings illustrate not just the vitality of our tourism sector, but also the deep connections our visitors have with Virginia Beach,” said Helman. “As more people choose to visit our beloved city and for those lucky enough to call Virginia Beach home, we’re seeing a direct impact on our local economy.
“This growth reinforces our commitment to enhancing the visitor experience and supporting our community’s prosperity.”
For more Virginia Beach information, visit www.visitvirginiabeach.com.
Highlights of the study
- Tourism industry sustained 33,836 jobs, representing 19 percent of the city’s workforce
- Visitor spending contributed $336 million in state and local tax revenues, effectively reducing the annual tax burden by $1,819 for each household in Virginia Beach
- Visitors poured $2.5 billion into the local economy with food and beverage leading the charge at more than $1.1 billion — 42 percent of total visitor spending
- Lodging, which includes both traditional accommodations, second homes and short-term rentals, accounted for $678 million, or 27 percent of the total
- Transportation and recreational activities each captured an 11 percent share of expenditures
- Retail spending reached $224 million, comprising about 9 percent of the overall visitor contributions
- Visitor spending increased by 4.1 percent in 2023, marking the third consecutive year of growth following a sharp decline during the pandemic in 2020
- In terms of spending categories, recreation saw the most significant growth, rising by 6.8 percent year over year as visitors increasingly prioritized experiential activities
- Visitor numbers for both day and overnight trips showed impressive growth, with day visits finally surpassing 2019 figures for the first time
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Crystal Graham
