The report on the economic impact of tourism for New Jersey in 2018, published March 2019, came out.

Overall it was a good 2018 with respect to tourism and visitor spending for the state of New Jersey in 2018.

Considering that was the initial surge in the economy, 2019 appears to provide the same kind of economic drive.

Visitation in 2018 surged 7.4% to over 110 million visitors. Total visitor spending increased to $44.7 billion.

New Jersey’s tourism industry supports 9.8% of all jobs within the state.

Tourism in New Jersey generated $5 billion in state and local taxes in 2018.

Tax revenue per household in New Jersey was supported by tourism to the tune of $1,545 in 2018.

2018 represented the ninth straight year of visitor spending growth increasing by 4.5% year-over-year. This was the strongest surge of growth since 2011.

New Jersey saw two major hotel openings in Atlantic City, which increased room supply in Atlantic City by 25%.

During the 2018 season, New Jersey was not affected by a single tropical storm.

Visitation in 2018 increased by 7.6 million trips, an increase of 7.4% over 2017. According to the report, the number of tourist stays has risen by nearly 45 million since 2009.

Recreational spending reached $5.4 billion in 2018, which is the highest level recorded.

New Jersey tourism directly supports $19.4 billion in state GDP, and $40.6 billion in total.

If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.

Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.

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