Colorado is losing ground to other states as a tourist destination.
Travel spending in Colorado rose 0.3 percent in 2024 from the previous year, according to the most recent annual report from Dean Runyan Associates and Longwoods International Travel USA. Nationally, travel spending rose 4.2 percent during the same timeframe. The state’s market share fell from a high of 2.1 percent in 2019 to 1.8 percent last year, the report found.
People are still spending plenty of money in the state’s tourist hot spots. But growth has stalled from a boom in visitation that started during the pandemic as people flocked to outdoor destinations. Overall traveler spending in Colorado was $28.5 billion last year, compared with $28.4 billion in 2023.
And, the numbers available for the beginning of this year aren’t promising either. Hotel occupancy is down 2 percent through June, according to Colorado’s tourism office. The decline in short-term rental usage, which includes Airbnbs, is more pronounced. Occupancy at such properties was down nearly 10 percent during the first quarter of 2025.
“We recognize that increased competition and uncertainty are impacting communities across our state in varied ways. We are committed to bringing forward innovative ways to mitigate these changes while continuing to inspire the world to explore Colorado responsibly and respectfully,” Timothy Wolfe, the director of Colorado’s tourism office, said in an emailed statement.
Tourism is a big economic driver for Colorado. Every $1 million in traveler spending led to seven new jobs in 2024, according to the report. Overall, tourism supported 188,510 jobs across the state.
Here are a few more highlights from the report:
- Visitation to Colorado rose 2.3 percent to 95.4 million travelers. The increase is primarily attributed to people taking day trips.
- Overnight visitors spent $17.6 billion last year, a decline of 0.4 percent from the prior year.
- Overnight casino trips were flat at 1.3 million. That’s down from the peak of 1.6 million trips in 2022.
- Business travelers spent 7 percent less last year compared to 2023.
The average income of the state’s visitors is skewing higher. For instance, 23 percent of visitors had an annual income between $100,000 and $149,900 in 2024, compared to 18 percent in that income bracket in 2023. On the flipside, 31 percent of last year’s visitors made less than $49,900, down from 36 percent in 2023.
