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Santa Monica’s Tourism Report Reveals Economic Gains, Industry Optimism for 2024

City Welcomes 4.2M Visitors, Celebrates Local Heroes at Annual Tourism Summit

Santa Monica Travel & Tourism (SMTT) hosted its 16th annual Tourism Summit on June 12 at the Jonathan Beach Club, drawing nearly 200 attendees from across the community to recognize the ongoing strength of the city’s tourism sector and to celebrate key partners in public safety and hospitality.

During the summit, SMTT unveiled its 2024 Tourism Economic and Fiscal Impact report, which showed that more than 4.2 million visitors contributed over $916.6 million to the local economy last year. The report measures tourism’s impact on Santa Monica’s fiscal health, including spending, employment, and tax revenues.

According to the findings, the city collected $62.7 million in Transient Occupancy Tax (TOT) in 2024: a 0.7% increase over the previous year. The TOT, which comes exclusively from hotel guests, directly supports city services such as public safety, homelessness programs, education, and the upkeep of parks and beaches.

Tourism also supported 6,487 local jobs, underscoring its significance as a driver of employment in the region. The debut of several new hospitality and retail businesses, including the Regent Santa Monica Beach hotel, Din Tai Fung, and the Google Store on the Third Street Promenade, has expanded career opportunities and consumer options.

“We are so inspired by our tourism partners’ resilience through challenges and passion to serve both visitors and our neighbors,” said SMTT President/CEO Misti Kerns. “As our industry faces continued hurdles, I am encouraged by our community’s strength to adapt and confident in our longstanding and brand-new tourism offerings that continue to draw travelers from around the world to our beloved beach city. All are welcome in Santa Monica.”

Keynote speaker Caroline Beteta, President and CEO of Visit California, addressed the broader state of tourism across the Golden State, noting that California remains a global draw despite recent adversities, including wildfires and geopolitical tensions. She praised Santa Monica as a quintessential California experience and emphasized Visit California’s commitment to supporting local destinations in their recovery and long-term success.

Geoff Freeman, President and CEO of the U.S. Travel Association, offered a national overview, highlighting a recent dip and rebound in international travel. “In March, international arrivals to the U.S. declined by 14%, but by April, we saw an 8% increase.”

Kerns echoed the urgency of supporting tourism nationwide, adding, “This industry fuels more than 15 million American jobs and contributes $1.3 trillion in visitor spending annually. Now more than ever, we need to champion the people and communities behind these numbers.”

The summit also honored several local heroes. The Santa Monica Police Department, Fire Department, and Office of Emergency Management received the Jeff King Tourism Champion Award for their critical service during the Los Angeles wildfires. Their swift action and unwavering dedication were recognized as essential to ensuring public safety during a crisis.

Chef Vittorio Lucariello of Shutters on the Beach received the Thelma Parks Tourism Spirit Award, honoring his excellence in hospitality and his leadership both in the kitchen and in the community. Lucariello was awarded a $1,000 scholarship and a staycation package sponsored by the Santa Monica Chamber of Commerce and SMTT.

The summit included panels and presentations offering in-depth perspectives on retail, dining, and lodging. Speakers included Erin Francis-Cummings, President and CEO of Future Partners, and a trio of industry leaders from California’s hospitality, restaurant, and retail sectors: Rachel Michelin, Jot Condie, and Lynn Mohrfeld.

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