The San Francisco Travel Association, the official destination marketing organisation for the City and County of San Francisco, unveiled its 2023 visitor impact results and provided insights into the 2024 forecast during its annual Marketing Conference held at the San Francisco Museum of Modern Art. The conference highlighted discussions on AI and other cutting-edge technologies shaping the visitor experience, as well as destination sales and marketing initiatives.
2023 Visitor Impact:
In 2023, San Francisco attracted 23.1 million visitors, marking a 5.2 per cent year-over-year increase. These visitors contributed significantly to the city’s economy, with total visitor-related spending amounting to USD 9.3 billion. Notably, visitor spending saw an 18 per cent growth to USD 8.8 billion, with an additional USD 494.6 million in meeting planner and exhibitor spending.
The robust convention activity played a pivotal role in driving lodging gains, particularly evident in the substantial increase in hotel room nights attributed to delegates attending events at Moscone Center. This surge amounted to 618,298 room nights, an 82.6 per cent jump from the previous year.
2024 Forecast:
San Francisco Travel forecasts further growth in visitation and overall visitor spending for 2024, fueled by increased leisure and business travel. The projected visitor volume is set to reach 23.7 million, with international visitors contributing USD 5 billion towards the expected USD 9.45 billion in visitor spending.Key Projections for 2024:
– Hotel occupancy is anticipated to reach 65 per cent.
– Average daily rate (ADR) is projected to grow by 3.3 per cent to USD 251.91.
– Hotel Revenue per available room (RevPAR) is expected to increase by 4.7 per cent to USD 163.82.
Scott Beck, President and CEO, San Francisco Travel, emphasised the importance of attracting more conventions and events to the city, recognizing their substantial impact on San Francisco’s economy.
Mayor London Breed shared her enthusiasm for welcoming more visitors back to the city, emphasising the ongoing efforts to ensure San Francisco remains a welcoming, safe, and exciting destination for all.
International Visitation and Airport Growth:
International visitation played a significant role in San Francisco’s tourism recovery in 2023, growing by 26 per cent. Notably, China regained its position as the top international market for visitor spend in San Francisco.
In 2023, San Francisco International Airport (SFO) experienced substantial growth, serving over 50 million passengers, an 18.7 per cent increase from the previous year. SFO added several new and returning routes, enhancing connectivity with key international destinations.
Outlook:
The San Francisco Travel Association is optimistic about the city’s tourism recovery, with visitor spending expected to surpass pre-pandemic levels by 2025 and visitor volume by 2026. The impact of San Francisco’s visitor economy is anticipated to fully rebound by early 2027.
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