Chicago's biggest job interview is a few weeks away, and it plans to make U.S. Travel Association 46th Annual IPW the best one yet. As the U.S. travel industry's premier international marketplace, IPW could incite an increase in of $1.6 billion in additional tourism spending and a direct economic impact of $891 million. According to a new report by the U.S. Travel Association and Rockport Analytics, LLC, this economic impact rivals that of the Super Bowl.
Mayor Rahm Emanuel gave a speech on tourism in Chicago in which he extended the city's goal for annual tourists, increasing the goal to 55 million visitors a year. The achievement of this goal by 2020 will result in 30,000 additional jobs related to the tourism industry and hundreds of millions of dollars in additional revenue into Chicago.
Chicago's rooms supply is the highest in history with 275,000 room-nights added in 2013, making the city the second largest market in the nation in terms of daily rooms supply. Hotel room demand set a record 9,889 million rooms occupied, a gain of 2.3% over 2012. Hotel occupancy was 75.28%, a gain of 0.2% over 2012, surpassing the previous record of 75.18% in 2007 when the market had over 1.9 million fewer room-nights.