Study finds tourism earns more money than oil
Gulf area travel promoters who think they have to choose between oil and tourism might consider a new study: Tourism and fishing bring in more revenues to the US than drilling.
So says Environment America.
“Both tourism and fishing bring US$204 billion annually to areas along the Pacific, Atlantic and Florida Gulf shores, which is about four times as much as oil and gas produce each year in the Gulf,” the study says.
That is where most of the nation’s oil drilling is done.
The coastal counties along the Mid-and South-Atlantic earn $33.5 billion annually from tourism, and $10.26 billion from commercial and recreational fishing. And offshore oil only accounts for $4.1 billion a year, based on government estimates of the recoverable reserves over a 25-year production cycle.
Along the Pacific Coast, tourism generates $61.98 billion, fishing $3.98 billion and oil $34.2 billion. On Florida’s West Coast, tourism earns $25.4 billion annually, fishing represents $14.07 billion, and oil and gas in the eastern section of the Gulf of Mexico makes $11.3 billion. With other coastal areas included, the total comes to $204 billion for the tourism and fishing industries versus $55 billion for oil and gas.
After the BP oil spill, at least $7.6 billion was lost in tourism revenue.
By David Wilkening
David
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