Tourism Trends | Blog

Critics in Washington have mislabeled many meetings and events as unnecessary and frivolous - causing companies that have received federal government support, as well as many that have not - to cancel planned and future meetings, conventions and activities. Whether a company has received emergency government lending or not, its inclination is to avoid the prospect of being ridiculed like AIG, Wells Fargo and others.

But American workers and local communities will pay the price as meetings, events and incentive travel decline. In Louisville, the travel industry brings more than $1.7 billion into the city’s economy annually. The tourism industry overall employs 28,000 people in Louisville. Though the intent of the threatened federal regulation is to punish fat cats who got bonuses and flew in corporate jets, the real victims are the housekeepers, cooks, security guards, front desk clerks, servers and others who will likely lose their jobs as hotels, restaurants and other travel-related businesses are forced to lay off workers or close their doors because of slowing business.
 

Meetings and Events account for 15 percent of all travel spending and generate more than one million jobs. In a Recession, hourly wage employees (bellmen, housekeeping, wait staff, etc) are the first to lose their jobs. The U.S. Labor Department reported a loss of 200,000 travel-related jobs in 2008. Commerce Department data predicts a loss of an additional 247,000 travel-related jobs in 2009.

Under President Obama’s stimulus package they hope to save or create 499,000 hospitality jobs. The Louisville Convention & Visitors Bureau plays a roll in helping Louisvillians keep their jobs in the hospitality industry. For every 15 hotel rooms booked, one housekeeper is working a full shift; a cook is needed to feed them; a waitress to serve the meals; a front desk clerk to check them in and so it goes in the hospitality industry. Good jobs that help to stimulate our economy. 
 

To address the difficult economic year projected for 2009 in the tourism industry, the Louisville Convention & Visitors Bureau is hosting a Louisville Tourism Summit, Monday, February 9, from 10 a.m. to noon, in the conference theatre at the Kentucky International Convention Center. Bureau President & CEO Jim Wood will give an overview of the current tourism trends, market competition and economic conditions.  The Regional Airport Authority, along with Kentucky state tourism officials, will also be on hand to talk about the upcoming year.  If you are watching the Summit and on twitter add a  #lcvb hashtag to your posts.

Click here to view the conference.  
 

The Tourism Summit has been rescheduled for Monday, February 9, from 10 a.m. to noon in the conference center theatre at the Kentucky International Convention Center at 221 South 4th Avenue. The purpose of the Summit is to address the difficult economic year that is projected for 2009 in the tourism industry. Please join the Bureau staff, along with your hospitality partners, as Bureau President & CEO Jim Wood give an overview of the current tourism trends, market competition and economic conditions. The Regional Airport Authority, along with state tourism officials, will also be on hand to talk about the upcoming year. As part of the morning, results of a recent industry survey on tourism concerns and ideas will be shared.

If anyone would like to view the summit live can watch a streaming feed by clicking here.

The Louisville tourism industry is bracing for a difficult year in 2009. With travel being restricted by city and state governments, reductions in corporate travel and softening leisure travel, 2009 will be a difficult year for the hotel and lodging industry. The domino effect will mean fewer visitors to our area restaurants, attractions and retail outlets.

In 2009 the Louisville Convention & Visitors Bureau (LCVB) will be promoting "Stay-cations" encouraging local residents to vacation right here in Louisville. The impact is being felt by the Louisville Convention & Visitors Bureau as the reduction in travel means a reduction in bed tax collections which is the primary funding source of the LCVB. The LCVB 2008/2009 operating budget is $13.9M. We have already reduced the LCVB's budget by 10% but it won't end there. We are planning for another round of cost cutting measures to go in to effect January 1. Some of those cuts will limit our ability to market Louisville as effectively as we would like.