logo
Denver Tourism Matches Record-Breaking Year in 2024

Denver Tourism Matches Record-Breaking Year in 2024

Yahoo5 hours ago

Visitor Volume and Spending Remained Steady, Reaching $10.3 Billion in Spending and Welcoming 37.1 Million Domestic Visitors
DENVER, June 18, 2025 /PRNewswire/ -- Today Visit Denver, the City of Denver's official tourism sales and marketing agency, announced that 2024 Denver tourism was consistent with 2023's record-breaking year, welcoming 37.1 million domestic visitors and generating $10.3 billion in tourism spending. Marketable trips to Denver, those that Visit Denver specifically targets since this group is defined by its openness to tourism promotions, rose 14% to 8.7 million visitors, the highest it's ever been.
"Tourism is vital to the Denver economy, and we are pleased to see 2024 numbers in line with 2023, which matched our expectations," said Richard W. Scharf, President and CEO of Visit Denver. "After 2023's strong results, where Denver's results exceeded those of many other cities that did not fully recover until 2024, keeping pace is an accomplishment that shows the combined strength of the tourism product in Denver and the promotional efforts of the organization. We are proud that Denver had such a strong showing with the economic headwinds last year and in an increasingly competitive market. We are equally proud that the tourism industry was able to support 73,500 jobs across the metro area last year, and to generate millions in state and local taxes." (Employment figures source: Dean Runyan Associates 2024 Economic Impact of Travel Study)
Overnight visitors totaled 19.8 million, generating $8.7 billion in spending, on par with 2023's record-breaking year. Overnight leisure visitors totaled 17.4 million, consistent with 2023's record-setting year.
Longwoods International provided the Denver visitor data through their annual visitor profile study, which they have conducted for Denver since 1994. Top tourism destinations from around the country and world rely on Longwoods' research and peer-reviewed methodology to provide standardized visitor tracking tools.
"The 2024 study shows that Denver continues to succeed in key areas of the visitor market, particularly in comparison to the 2019, pre-Covid high water marks, with total visitation up 16% and overnight visitor spending up 45% since then. Maintaining the levels set in the blockbuster year of 2023 is a win, especially since American travelers were more likely to consider overseas visits due to the strength of the U.S. dollar last year," said Amir Eylon, President and CEO of Longwoods International. "Denver's unique positioning as a 'best of both worlds' destination, with its many exciting city experiences and the appeal of Colorado's Rocky Mountains, continues to resonate with travelers looking for unique, memorable vacation experiences."
The study confirmed that Denver is a year-round destination with overnight visitation spread evenly throughout the year, with slight preferences toward summer. Denver saw 22% of visitors in Q1, 26% in Q2, 28% in Q3 and 23% in Q4. The data suggests travelers enjoy their trips and have plenty of reason to return, with 80% of overnight visitors being repeat guests.
The data further showed how crucial Denver International Airport and its air service is for continued strong Denver tourism trends. In 2024, 36% of overnight Denver visitors arrived by plane, compared to the national average of just 24%. The airport, as well as Visit Denver's partnership with the Colorado Tourism Office, are key to Denver's position as both a destination and a gateway to the rest of the state with overnight Denver visitors spending an average of 2.7 nights, or nearly 70% of their trip in Denver, with the remainder in other parts of the Centennial State.
A separate Return on Investment (ROI) study from Longwoods International showed specific, measurable results from Visit Denver's 2024 spring/summer targeted advertising campaign, the organization's largest campaign of the year. That study showed that campaign was directly responsible for:
3 million incremental trips
$1.3 billion in incremental spending
$143 million in incremental state and local taxes, including more than $106 million for Denver
Combined, these results account for an ROI of $217 in incremental spending and $24 in incremental taxes for each $1 spent in advertising
Key Data from the 2024 Visitor Study
Denver welcomed 37.1 million total visitors in 2024: 19.8 million overnight visitors and 17.3 million day visitors
Overnight leisure visitors totaled 17.4 million in 2024. That includes a record 8.7 million "marketable" visitors, those most open to tourism promotions, a 14% increase over 2023
Denver visitors spent $10.3 billion in 2024, including $8.7 billion from overnight visitors and an additional $1.7 billion in spending from day visitors
Expenditures by overnight visitors averaged $437 per person per trip, an increase from 2023:
Transportation spending within the destination reached nearly $3 billion
Lodging spending hit almost $2.5 billion
Restaurant Food and Beverage spend reached nearly $1.5 billion
Retail Purchases totaled just over $1 billion, with 57% of visitors shopping at locally-owned businesses compared to 48% nationally
Recreation, Sightseeing and Entertainment expenditures totaled $735 million
The top four states originating overnight trips to Denver in 2024, outside of Colorado, were the same as 2023:
Texas
California
Florida
Arizona
The top five cities from outside of Colorado sending overnight visitors to Denver in 2024 were:
Los Angeles
New York
Dallas-Ft. Worth
Phoenix
Chicago
Note: All are Visit Denver advertising markets
The top-visited attractions for Denver visitors include a wide range of draws throughout the area.
Shopping & Entertainment:
Cherry Creek area (Shopping Center & neighborhood)16th Street Mall"LoDo" Lower Downtown Historic DistrictDenver PavilionsOutlets at Castle RockColorado Mills
Arts & Performing Arts:
Red Rocks Park & AmphitheatreArts district/art gallery neighborhoodDenver Performing Arts Complex
Paid Museums & Attractions:
Denver ZooDenver Museum of Nature & Science/Infinity TheaterDowntown AquariumMeow WolfDenver Botanic GardensDenver Art Museum
Sports Events & Activities:
Colorado Rockies baseballDenver Broncos footballDenver Nuggets basketballColorado Mammoth lacrosseColorado Avalanche hockey
All data is from the Longwoods International 2024 Annual Visitor Profile Study unless otherwise noted.
Looking Forward
Visit Denver will continue to work with industry partners and experts to monitor international inbound travel, especially from Canada
Forecasts suggest travelers plan to spend less on summer travel
About Visit Denver, The Convention & Visitors Bureau
Celebrating 116 years of promoting the Mile High City, Visit Denver is a nonprofit trade association that contracts with the City of Denver to market Denver as a convention and leisure destination, increasing economic development in the city, creating jobs and generating taxes. Denver welcomed more than 37.1 million visitors in 2024, generating $10.3 billion in spending, while supporting tens of thousands of jobs and making Tourism one of the city's largest industries. Learn more about Denver at Visit Denver or Tourism Pays Denver. Follow Denver's social media channels for up-to-the-minute updates on Facebook, Instagram, Twitter, YouTube and LinkedIn.
With press or photo inquiries, please contact: Taylor Shields, Director of PR & Communications Caroline Campbell, PR & Communications Manager Natalie St. Hilaire, PR & Communications Coordinator Press@visitdenver.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/denver-tourism-matches-record-breaking-year-in-2024-302484497.html
SOURCE Visit Denver, The Convention & Visitors Bureau

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Fed Rate Cuts Unlikely This Summer. Are Lower Mortgage Rates Still Possible?
Fed Rate Cuts Unlikely This Summer. Are Lower Mortgage Rates Still Possible?

CNET

time14 minutes ago

  • CNET

Fed Rate Cuts Unlikely This Summer. Are Lower Mortgage Rates Still Possible?

The Fed's interest rate decisions impact mortgages, but the relationship isn't straightforward. Tharon Green/CNET There's a wild amount of uncertainty in today's economy, but one thing is clear: The Federal Reserve isn't planning to lower interest rates this summer. Mortgage rates, which have been stuck near 7% for the past several months, are likely to stay higher for longer. On June 18, Fed officials voted to leave borrowing rates unchanged for a fourth consecutive meeting. Holding interest rates where they are allows the central bank to evaluate how President Trump's unpredictable tariff campaign, immigration policies and federal cutbacks affect both inflation and the job market. Often, what the central bank simply says about future plans can cause a stir in the housing market. Mortgage rates are driven by bond investors and a host of other factors, i.e., not directly determined by the Fed. "The mortgage market reacts fast to uncertainty, and we've got no shortage of it this summer," said Nicole Rueth, of the Rueth Team with Movement Mortgage. Why is the Fed not cutting interest rates? The Fed sets and oversees US monetary policy under a dual mandate to maintain price stability and maximum employment. It does this largely by adjusting the federal funds rate, the rate at which banks borrow and lend their money. When economic growth is weak and unemployment is high, the Fed lowers interest rates to encourage spending and propel growth. Reducing interest rates could also allow inflation to surge, which is generally bad for mortgage rates. Keeping rates high, however, increases the risk of a job-loss recession that would cause widespread financial hardship. If unemployment spikes -- a real possibility given rising jobless claims -- the Fed could be forced to implement interest rate cuts earlier than anticipated. "The Federal Reserve is in one of the trickiest spots in recent economic history," said Ali Wolf, Zonda and NewHomeSource chief economist. What is the forecast for interest rate cuts in 2025? On Wednesday, markets eyed the Fed's Summary of Economic Projections, which outlined two 0.25% rate cuts in 2025, unchanged from earlier estimates. But that's far from guaranteed. The updated forecast suggests that tariffs will push prices higher, suggesting that consumers have not yet felt the full effect of these import duties. "Everyone that I know is forecasting a meaningful increase in inflation in the coming months from tariffs, because someone has to pay for the tariffs," Fed Chair Jerome Powell said during a June 18 press conference. Inflation could prompt the central bank to forgo one (or both) of its projected rate cuts, which would keep mortgage rates high. Though Powell remains noncommittal on any specific time frame, financial markets still see a potential interest rate cut coming as early as this fall. Most housing market forecasts, which already factor in at least two 0.25% Fed cuts, call for 30-year mortgage rates to stay above 6.5% throughout 2025. "Average rates are likely to stay in the 6.75% to 7.25% range unless the Fed signals multiple cuts and backs up their policy with data," Rueth said. What factors affect mortgage rates? Mortgage rates move around for many of the same reasons home prices do: supply, demand, inflation and even the employment rate. Personal factors, such as a homebuyer's credit score, down payment and home loan amount, also determine one's individual mortgage rate. Different loan types and terms also have varying interest rates. Policy changes: When the Fed adjusts the federal funds rate, it affects many aspects of the economy, including mortgage rates. The federal funds rate affects how much it costs banks to borrow money, which in turn affects what banks charge consumers to make a profit. Inflation: Generally, when inflation is high, mortgage rates tend to be high. Because inflation chips away at purchasing power, lenders set higher interest rates on loans to make up for that loss and ensure a profit. Supply and demand: When demand for mortgages is high, lenders tend to raise interest rates. This is because they have only so much capital to lend in the form of home loans. Conversely, when demand for mortgages is low, lenders tend to slash interest rates to attract borrowers. Bond market activity: Mortgage lenders peg fixed interest rates, like fixed-rate mortgages, to bond rates. Mortgage bonds, also called mortgage-backed securities, are bundles of mortgages sold to investors and are closely tied to the 10-year Treasury. When bond interest rates are high, the bond has less value on the market where investors buy and sell securities, causing mortgage interest rates to go up. Other key indicators: Employment patterns and other aspects of the economy that affect investor confidence and consumer spending and borrowing also influence mortgage rates. For instance, a strong jobs report and a robust economy could indicate greater demand for housing, which can put upward pressure on mortgage rates. When the economy slows and unemployment is high, mortgage rates tend to be lower. Read more: Fact Check: Trump Doesn't Have the Power to Force Lower Interest Rates Is now a good time to get a mortgage? Even though timing is everything in the mortgage market, you can't control what the Fed does. "Forecasting interest rates is nearly impossible in today's market," said Wolf. Regardless of the economy, the most important thing when shopping for a mortgage is to make sure you can comfortably afford your monthly payments. More homebuying advice

Yes, more and more celebrities are entering the phone business. Here's why
Yes, more and more celebrities are entering the phone business. Here's why

Associated Press

time17 minutes ago

  • Associated Press

Yes, more and more celebrities are entering the phone business. Here's why

NEW YORK (AP) — More and more celebrities are looking to attach their names to your phone. Or rather, wireless services that could power it. From cosmetics to snacks and signature spirits, brands launched or co-owned by high-profile figures are just about everywhere you look today. But several big names are also venturing into the market for mobile virtual network operators — or MVNOs, an industry term for businesses that provide cell coverage by leasing infrastructure from bigger, more established carriers. U.S. President Donald Trump's family was the most recent to join the list with the launch of Trump Mobile this week. Here's what to know. Which big names have entered the phone business? On Monday, The Trump Organization (currently run by the president's sons Eric and Donald Jr.) unveiled Trump Mobile. The company says this new business will offer cell service, through an apparent licensing deal with 'all three major cellular carriers' in the U.S., and sell gold phones by August. Trump Mobile marks the latest in a string of new Trump-branded offerings — which already span from golden sneakers to 'God Bless the USA' bibles — despite mounting ethical concerns that the president is profiting off his position and could distort public policy for personal gain. 'This raises a real question about a conflict of interest,' said Ben Bentzin, an associate professor of instruction at The University of Texas at Austin's McCombs School of Business. As the sitting president, Trump appoints leadership for the Federal Communications Commission — and the family's new phone venture exists under this regulatory authority. All of this sets Trump Mobile apart from other big names that have recently ventured into the wireless business. Still, its launch arrives as a growing number of celebrities tap into this space. Just last week, actors Jason Bateman, Sean Hayes and Will Arnett launched SmartLess Mobile, a name that mirrors the trio's 'SmartLess' podcast. Now live across the contiguous U.S. and Puerto Rico, SmartLess Mobile runs on T-Mobile's 5G Network. Another wireless provider with ties to fame is Mint Mobile. While not launched by celebrities, Ryan Reynolds purchased an ownership stake in Mint in 2019. Mint's parent, the Ka'ena Corporation, was later acquired by T-Mobile in a deal worth up to $1.35 billion. Beyond names of famous people, well-known brands that weren't traditionally in the phone business have also got in on the action over the years — particuarly outside of the U.S., Forrester Research senior analyst Octavio Garcia Granados notes. He points to Walmart's 'Bait' mobile plan in Mexico, for example, as well as Italian soccer club AC Milan launching its own mobile SIM cards for fans. 'The MVNO market is not new,' said Garcia Granados. 'What's new is the development on how it's consumed and the (ease) for brands to launch such plans.' MVNOs have also emerged outside of high-profile brands or launch teams. Bentzin points to Straight Talk and Cricket — which are now owned by Verizon and AT&T, respectively. Still, traditional celebrity endorsements are common across the board. And in recent years, 'influencer marketing' has been 'the fastest growing area of advertising and promotion,' he notes. What are these cell services offering? Why were they launched? For Trump Mobile, the pitch seems to be all about having an 'all-American service' while also tapping into the fan base of the president. The company noted Monday that it chose to unveil Trump Mobile on the 10th anniversary of Trump launching 'his historic presidential campaign.' The name given to its flagship offer, The 47 Plan, and the $47.45 monthly fee make reference to the president's two terms. And a mock-up of the planned gold phone on the company's website shows Trump's 'Make America Great' slogan on the front screen. According to the company, Trump Mobile's 47 Plan will include unlimited calls, texts and data through partner carriers, as well as free roadside assistance and telehealth services. It also says the new phone, called the 'T1 Phone,' will be available for $499 in August — but notes that this device won't be designed or made by Trump Mobile. Still, the company emphasized that these phones will be built in the U.S. Experts have since shared skepticism about that being possible in two months. And beyond the future T1 Phone, others stress that a monthly cell service fee of just under $50 is pricey compared to other MVNO options today. 'It's not actual lower pricing. It's really trading on the fan base, if you will, of Trump,' said Bentzin. SmartLess Mobile and Mint Mobile, of course, don't carry these same political ties. And the wireless plans offered by both boast less expensive offerings. T-Mobile-owned Mint advertises 'flexible, buy-in-bulk' plans that range from $15 to $30 a month. Each option includes unlimited talk and text nationwide, but vary depending on plan length and data amount. Mint, founded in 2016, says it started 'because we'd had enough of the wireless industry's games' — and promises to help consumers avoid hidden fees. SmartLess Mobile's plans also start at $15 a month. Depending on the data amount purchased, that base fee can rise to $30 — but all of its plans similarly offer unlimited talk and text using T-Mobile's network. When launching last week, SmartLess underlined that its goal is to help people stop paying for the data they don't use, noting that the majority of data used by consumers today happens over Wi-Fi. 'Seriously, if your phone bill knew how often you're on Wi-Fi, it would be embarrassed,' Hayes said in a statement for SmartLess Mobile's June 10 launch. What's the demand? MVNOs have proven to be attractive acquisitions to big wireless carriers over the years. But whether or not the star factor promises significant demand has yet to be seen for the market's most recent entrants. For the more established Mint Mobile, Reynolds' investment is a success story. The 25% stake that the actor reportedly owned in 2023, when the company announced that it would be acquired by T-Mobile, was estimated to give him a personal windfall of over $300 million in cash and stock. And since that deal closed, Reynolds has remained in his creative role for Mint and as the face of many campaigns — helping the brand continue to attract new customers. It's no surprise that the potential of such business returns might attract other celebrities to make similar investments, Bentzin notes. Still, newer ventures are untested. And 'as the market becomes more crowded, it could be harder and harder to pick off individual consumers,' he added. Beyond a high-profile name, quality of service and what consumers can afford is also critical. 'The competition battleground here is brand and price,' Bentzin said. Still, if the marketing is right and product meets consumer needs, experts like Garcia Granados note that MVNOs can be a profitable business, for both the brands that start them and the telecommunications giants — like T-Mobile, Verizon and AT&T — offering this 'wholesale' access to their infrastructure. As a result, he said, such high-profile ventures become 'a catalyst for others to follow.' ______ AP Business Writer Bernard Condon contributed to this report from New York.

Palantir's CEO Throws Money Behind Andrew Cuomo in NYC Mayoral Race
Palantir's CEO Throws Money Behind Andrew Cuomo in NYC Mayoral Race

Gizmodo

time17 minutes ago

  • Gizmodo

Palantir's CEO Throws Money Behind Andrew Cuomo in NYC Mayoral Race

Alex Karp, the billionaire CEO of creepy defense contractor Palantir, has taken a side in New York's closely watched mayoral race. Karp, who once bragged that his company kills people, recently gave a large sum of money to a Super PAC that is supporting the campaign of former New York governor Andrew Cuomo. Cuomo is currently running against Zohran Mamdani, a 33-year-old assemblyman for the city's 36th district in Queens. The race between the two candidates has become a referendum on New York's future, with both candidates offering drastically different visions for housing and economic policy. Mamdani has described himself as a democratic socialist, while Cuomo is campaigning on a promise to bring sensible centrism back to the city after the fiasco that has been Eric Adams's administration. Politico notes that Karp recently donated $90,000 to Fix the City, which is backing Cuomo's campaign. The contribution further cements a picture of Karp's politics that leans rightward, though Karp has, in the past, referred to himself by a variety of political labels—even calling himself a 'socialist' or a 'neo-Marxist.' We can surely call BS on that now, since Karp is currently using his money to defeat an actual socialist. Indeed, Karp is just one of several billionaires who are pouring money into Cuomo's campaign in an apparent effort to stave off a more populist form of government in the city. Despite Cuomo's promise to fight Trump, a number of MAGA fixtures, like Trump fan Bill Ackman, have thrown their support behind the former governor. Cuomo's campaign has rested on a series of vague promises about improvements for city services and the bragging point that he 'knows how government works.' Of course, NYC is a city where Republicans have a tough time in modern politics, so the Democratic primary is where the action is. Mamdani, meanwhile, has championed many leftist economic policies, including the establishment of government-owned and operated supermarkets to bring down food prices. He has also championed rent freezes in a city where the cost of living just keeps going up. His critics have noted that Mamdani has substantially less government experience than Cuomo and, prior to his political career, was a rapper for several years known as 'Mr. Cardamom.' Cuomo notably served as the governor of New York from 2011 until 2021, when his administration combusted as a result of several scandals, including allegations of sexual harassment leveled against him by former female aides. A criminal case against Cuomo was brought over the allegations, but the charges were dropped in January of 2022, with authorities citing a lack of evidence. Palantir, meanwhile, has increasingly wedded itself to the Trump administration and is assisting the government with its deportation efforts, as well as in a controversial data centralization effort that has drawn criticism from privacy and civil liberties advocates.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store