According to its recent Tourism Economic Impact Report, Galveston experienced tremendous economic growth in 2022, surpassing record-breaking numbers. Thriving in the post-pandemic world, the island’s booming tourism sector generated $228.5 million in taxes in 2022, 16.2% more than 2021. Not only did Galveston’s tourism generate a significant amount of hotel occupancy tax revenue, it also contributed $35.2 million in local sales and property tax revenue, accounting for 54% of the City of Galveston’s general fund.   The island welcomed over eight million visitors in 2022, a 25% increase from 2021 and a 10.9% increase from 2019. Driven by strong demand growth and higher prices of commodities, visitors spent a record $1.2 billion in 2022, 27% more than in 2021. Each visitor spent an average of $142 per person compared to $120 in 2019.   Tourism is integral to not only the success of Galveston’s economy, but also its workforce. In 2022, tourism supported nearly 12,000 jobs and sustained 1-in-3 jobs on the island. The number of tourism jobs also climbed 9.9% above 2021.   The world-renowned Port of Galveston was a key player in the island’s success last year. In 2022, The Port of Galveston welcomed one million cruise passengers, marking the first time it has achieved this milestone since before the pandemic. Spending by cruise visitors contributed a total of $80 million in 2022.   As Galveston and its tourism sector drive economic growth, the island and the Port have many new developments on the horizon.  “I’m strongly optimistic about 2023. Thanks to the robust recovery of our cruise business, the Galveston Wharves is poised to make major advances with its capital projects and waterfront infrastructure renovations to bring one of this region’s major economic engines to its full potential,” Rodger Rees, Galveston Wharves Port Director and CEO, wrote in a recent newsletter.  Rees expects to break passenger and sailing records with 362 sailings and more than a million cruise passengers this year, which would be a new record in the port’s 22-year history.   Following the establishment of its $125 million Royal Caribbean International cruise terminal, the Port most recently announced the addition of the Carnival Cruise Line’s Carnival Jubilee and, a $53 million investment dedicated to the expansion of the two-decades-old Cruise Terminal 25. The expansion will help accommodate for the 6,500-guest capacity of the Jubilee and other high-capacity ships. The Carnival Jubilee is set to arrive in December.   Additionally, the Port is working to sign an agreement with MSC Cruises for a public-private project to build a fourth cruise terminal and 1,500-space parking garage at Pier 16.  New hotel and condominium developments are also making headway on the island, such as Tiara on the Beach, a 10-story condominium building inspired by the luxury beachside residences and resorts of Miami. Galveston’s East Beach area is also getting a new full-service, resort style hotel that includes 14 stories, 334 rooms, a pool deck, restaurant, family entertainment center, and conference center.  Learn more about living and working in Houston. 

Statement Attributable to Bob Harvey, President and CEO, Greater Houston Partnership Late Sunday evening, both the Texas Senate and Texas House of Representatives overwhelmingly passed HB 5, which establishes a new, transparent, and accountable economic development incentive program.    “Texas is a pro-business state focused on growth and opportunity, and the economic development tools provided by HB 5 strengthen our ability to attract high-paying jobs and large-scale investment to Texas and the greater Houston region,” said Bob Harvey, Greater Houston Partnership President and CEO.    “The Partnership thanks Lt. Governor Dan Patrick, Speaker Dade Phelan, Chairman Todd Hunter, Chairman Charles Schwertner, and other members of the legislature for their continued support of the business climate in the Lone Star State. We also thank Governor Greg Abbott for his leadership and look forward to him signing this bill into law.”