Economic Impact of Vacation Rentals in the Poconos

  • December 01, 2023 11:37 AM | Efrain Cortez (Administrator)

    EMPLOYMENT IMPACTS

    “Visitor activity supported a total of 452,885 jobs in 2021, including 297,133 direct jobs and 155,753 jobs supported through indirect and induced impacts. This equates to 1-in17 jobs in Pennsylvania.”


    Source: Economic Impact of Travel and Tourism in Pennsylvania (March 2023 study) - https://assets.simpleviewinc.com/simpleview/image/upload/v1/clients/poconos/2021_Economic_Impact_of_Tourism_in_Pennsylvania_FINAL_ES_859ed3a1-882b-4e0a-9c4c-2fa0d70a0025.pdf


  • October 27, 2023 7:35 PM | Efrain Cortez (Administrator)

    MYTH: STRs cause affordable housing problems.

    REALITY: In PA, whole-home renter occupied homes make up about 14% of all housing units, and only a fraction of them are used as STRs. 30% of homes in the Pocono region are vacant.  A majority of STRs are used by their owners for some of the year. In fact, renting to short-term guests helps make owning property in PA affordable by supplementing mortgages, and property taxes. With the recent surge in new residents, STRs provide those moving to the Poconos with housing while they transition. 


    Source: https://data.census.gov


  • October 13, 2023 11:42 AM | Efrain Cortez (Administrator)

    “Tourism supports a total of 35,818 jobs in the Poconos, nearly 1/3 of all jobs in the Pocono Mountains”

    Source: https://www.poconomountains.com/articles/post/pmvb-annual-report-headlines-fiscal-year/

     
  • September 29, 2023 11:12 AM | Efrain Cortez (Administrator)

    "STR activity creates a domino effect of economic generation and jobs throughout communities. Of STR homeowners, more than 57% hired up to three contractors or service providers to service their property, and 69% spent up to $15,000 on those providers while 24% spent between $15,000 and $50,000."

    Source: 2022 State of the STR Community

  • September 22, 2023 11:17 AM | Efrain Cortez (Administrator)

    "The 24,480 employed in the region's travel- and tourism-related industry represented nearly 1-in-3 jobs in the Pocono Mountain region...

    Employment directly supported by visitor spending rose 13%, or by nearly 2,850 jobs in 2021, but remained 9% below its 2019 pre-pandemic level."

    Source: Tourism Economics

  • September 15, 2023 5:21 PM | Efrain Cortez (Administrator)

    Economic Impact of Vacation Rentals in the Poconos

    "With visitor spending rising 35% in the Pocono Mountains region in 2021, it was the only region out of 11 to surpass its 2019 pre-pandemic level.”


    Source: Tourism Economics

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