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MINUTES
CALIFORNIA BUSINESS MINUTE San Franciscos Tourism Industry 06-03-08
Hi, I am Tim Johnson and welcome to the California Business Minute.
According to the citys tourism officials, San Francisco saw an increase in both tourists and tourism dollars spent in 2007. A recent analysis illustrates that more than 16 million visitors came to San Francisco last year and spent $8.2 billion, both all-time highs for tourism in the city.
Expenditures increased 6.2 percent increase over 2006. Experts believe a weak dollar help propel San Franciscos tourism industry. Foreign tourists came in record numbers - about 2.3 million of them, a 9.5 percent increase over 2006, according to figures released by the San Francisco Convention & Visitors Bureau.
Tourism is a significant segment of the San Francisco economy. In 2007 there were 72,360 people working in the tourism industry, an increase of 5.4 percent over 2006, with an annual payroll of $1.95 billion.
According to PKF Consulting, hotel occupancy last year was 79 percent, up from 76.4 percent in 2006. The average daily rate for rooms was $181.22, an 8 percent increase over 2006. San Franciscos occupancy rate is 15 percent higher than the national average.
I am Tim Johnson and this has been the California Business Minute.
