U.S. tourism surges to historic highs, smaller markets set for growth

U.S. tourism surges to historic highs, smaller markets set for growth

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  • As the Dallas-Fort Worth area cements its place as an educational powerhouse, institutions across the region are innovating to meet the diverse needs of students and communities. At the forefront, Dallas College’s newly established Research Institute has introduced an equity-driven agenda designed to address the systemic challenges faced by its largely Latinx and low-income student population.
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  • Texas-based Vantage Bank announced a new partnership with digital banking and payments firm i2c Inc. on Monday, which is expected "to deliver personalized card experiences" and provide reliability and security for its customers, according to Vantage Bank Chief Information Officer Jay Leal. The move will help Vantage consolidate and streamline its payment process at a time when small- and medium-sized banks are looking to modernize their offerings without undergoing costly overhauls.
  • Florida’s insurance industry is reeling after two hurricanes struck within weeks, compounding what’s already been a costly storm season. Hurricane Helene hit in late September, followed by Hurricane Milton in early October — adding millions in damages and pushing insurers to the brink as the season wears on. Milton alone may have caused up to $55 billion in property damage and a combined $36 billion hit for insurers, according to preliminary estimates. Florida’s Office of Insurance Regulation also reported that Helene produced $1.2 billion in insured losses, with Milton tacking on another $586 million, adding over 12,000 new claims to Citizens Property Insurance Corp.


Quote of the week

"There’s a significant shift we call the “horizontal wealth transfer.” Traditionally, wealth has passed from parents to children, but over the next 10 to 20 years, around $9 trillion is expected to transfer between spouses and partners, particularly from men to women, as women tend to live longer." - Catherine Lapadula , Managing Director, Market Executive, 瑞银集团 Florida International

America’s less traveled destinations looking for their piece of the tourism revenue pie

Writer: Mirella Franzese

The U.S. is the No. 1? tourism and travel market in the world, beating China, Germany,?Japan, and the U.K., according to a report from the The World Travel and Tourism Council (WTTC). U.S. travel has also surpassed pre-pandemic levels with the tourism sector making the largest contribution to the national GDP ever recorded in history.??

Tourism spending alone is expected to generate $2.5 trillion this year, which represents 9% of the U.S. economy. The top markets for travel and hospitality are vibrant metropolitan centers, such as New York, Miami, Orlando and San Francisco, which rank among the 10 most popular destinations for visitors according to FareGarage.?

However, with $265 billion in revenue expected by 2029 from the travel and tourism sectors, America’s less traveled destinations are partnering with government agencies in a national push for greater equity in the tourism space. From Plymouth, Massachusetts to St. Paul, Minnesota, to Jacksonville, Florida, some of those locations are actively working to claim a piece of the tourism revenue.????

The preservation of history is one of the key strategies for attracting visitors in the state of Massachusetts, Lea Filson, president and CEO of See Plymouth, told Invest:. “History is generally what draws tourists because Massachusetts itself is literally the foundation of the United States. We have a Historic Cultural District where our arts thrive, our history thrives, and where the restaurants and attractions are…. We have everything from an authentic tea room to a living history museum as well as many unique experiences for families.”??

Click here to read the full article.

Top image via See Plymouth


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