Legislative Finance Committee
What we know about tourism in New Mexico:
Tourism is on the rise, with more people visiting and spending more money than ever before. Tourism is a $6.1 billion industry (up from $5.5 billion in 2011), contributing $609 million in state and local taxes and offsetting the household tax burden by $810 annually. Tourism is driving job growth in New Mexico, with 1-in-12 New Mexico jobs supported by visitor spending. At the heart of it all are leisure trips, the primary focus of the New Mexico True campaign, which are leading the increases in New Mexico's visitor economy.
What we need to grow tourism in New Mexico:
Put simply, to continue to grow tourism in New Mexico we need to expand our advertising efforts and put a focus on products that deliver a unique and positive guest experience. Research shows that New Mexico True has not yet reached optimal frequency in any of our target markets. This means that every additional dollar we spend on New Mexico True advertising will result in more trips to New Mexico.
The Tourism Department is respectfully requesting an additional $4.7M in FY17 to bolster our presence in existing markets, add the prioritized market of San Francisco, expand the cooperative marketing program, and establish recurring funding for the event sponsorship program.
Why San Francisco?
The San Francisco media market (which includes San Jose, Oakland and the Silicon Valley) has been prioritized for a number of reasons: strong presence of “Venturesome Travelers" (interested in what we have to offer), number of direct flights, overall economic climate, and media costs. As a recent article in the San Francisco Gate suggests, New Mexico has a lot to offer Bay Area residents looking for a quick escape from home.
Why are the cooperative marketing and event sponsorship programs important?
Cooperative marketing (co-op) is a mutually beneficial program that brings advertising dollars directly to government, tribal and non-profit partners in New Mexico. read more...