Overall Economic Impact: $13.6 Billion
The Hospitality Industry’s economic impact in 2015 was $13.6 billion. For a variety of technical reasons, this estimate is conservative. The true economic impact is no
doubt considerably greater. The Hospitality Industry falls into four sectors:
Annual Payroll: $2.9 Billion
The Hospitality Industry’s annual payroll was $2.9 billion in 2015. It should be noted that these figures reflect only direct wage payments. Total compensation, including benefits and gratuities, would be significantly higher.
Total Employment: 130,796
During 2015, the Hospitality Industry provided an average of 130,796 jobs. This represents more than one-eighth of the total number of jobs in the San Antonio metropolitan area. Many of these jobs provide life-long career opportunities
and help employees develop skills that translate into many areas of business.
The presence of so many visitors helps promote a vibrant and diverse cultural and social atmosphere that is attractive to San Antonio residents and visitors. Many of the amenities and attractions that locals enjoy on a daily basis are available to them because these attractions are also supported by millions of visitors.
The Hospitality Industry Over Time
In the past ten years, the Hospitality Industry’s economic impact has grown substantially, from $9.3 billion in 2005 to $13.6 billion in 2015. The growth over a 25-year horizon is even more impressive: a more than 300% gain from the $3.3 billion impact the industry had in 1990. What is especially striking is that the industry grew steadily from 2005 to 2015 despite challenging national economic conditions during much of that period.
It is a great advantage for San Antonio to have as one of its major industries one that is so resilient over the business cycle. The number of employees in the industry has also grown, as the graph indicates. Employment increased by more than one-third over the decade, and 114% since 1990.
The Hospitality Industry is a vital and expanding part of the San Antonio economy. Each year, tens of millions of visitors come to San Antonio for business or pleasure.
- In 2015, 34.4 million visitors came to the San Antonio metropolitan area. The vast majority of these visitors (29.7 million) came to Bexar County.
- More than half of these (20.9 million overall, 18.2 million in Bexar County) were overnight visitors.