Colorado's landscape of economic stability has been painted with the broad strokes of its tourism industry, with the Colorado Tourism Office (CTO), a division of the Colorado Office of Economic Development and International Trade (OEDIT), recently reporting a contribution of $28.5 billion to the state's economy in 2024. The cornerstone of this economic impact appears to be the support of more than 188,000 jobs, evidencing tourism as a vibrant engine powering the livelihoods of many Coloradans. This data, gathered by Dean Runyan Associates and Longwoods International Travel USA, also highlights growth in state and local tax revenues, translating to $1.9 billion in 2024.
Despite these robust figures, Colorado confronts an increasingly competitive landscape and the specter of federal policy changes creating uncertainty. Governor Polis acknowledged these challenges yet remained optimistic, saying, “Despite the dangerous federal tariffs and inconsistent federal policies, Colorado is open for business and visitors from across the world,” according to the Colorado Governor's Office. Colorado's tourism industry has not only spurred job creation, with around 3,720 new roles in 2024, but it also boasts an impressive return on investment from marketing efforts, particularly a winter campaign that has outshone others across the United States as measured by SMARI.
With the overall national increase in travel-related spending outpacing Colorado’s gains, the state's tourism market share dipped from its 2019 peak. Overnight visitors in hotels, motels, and short-term vacation rentals spent $17.6 billion, down 0.4% from the prior year. These figures, coupled with early 2025 indicators of decreased hotel occupancy and revenue, highlight the precariousness of relying on a single industry, no matter how fruitful it has been in the past.
Noteworthy within the tourism sector are the distinctions shaping Colorado’s visitor demographics and spending: one in five visitors chose electric vehicles to reach the Centennial State, and nearly a quarter of travel parties included someone requiring accessibility services. As for traveler spending, every $1 million injected into the industry yielded seven new jobs. Yet, tourist accommodations have felt the brunt of market changes, with short-term rental occupancy tumbling nearly 10% in early 2025, a statistic that serves as a barometer for broader industry health.
