The San Francisco Peninsula Drives $52 Million in Visitor Spending in 2024

Region’s official Destination Marketing Organization shares economic impact of tourism in California and the Bay Area during annual luncheon

The San Francisco Peninsula (San Mateo County’s Destination Marketing Organization) hosted its highly anticipated Annual Tourism Luncheon on April 9, 2025, at the San Francisco Airport Waterfront Marriott in Burlingame, CA. This event provided comprehensive insights into the tourism industry’s economic impact on California, the Bay Area and The San Francisco Peninsula. Attendees included the region’s top elected officials and business community members from across a wide spectrum of the tourism industry, including media, neighboring destination marketing organizations, hotel and accommodation providers, travel agencies, restaurant and retail business owners and cultural and recreational attraction managers.

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Speaker Caroline Beteta, President & CEO of Visit California. Credit: Scott Buschman

“Our annual event brings together a powerful cross-section of the tourism industry, all united by a shared commitment to the growth and sustainability of our local economy,” said John Hutar, President and CEO of The San Francisco Peninsula. “Celebrating the efforts of the DMO in driving $52 million dollars of economic impact, the presence of top regional elected officials underscores the importance of tourism as a vital economic driver and a unifying force within our communities.”

The event featured two distinguished keynote speakers: Caroline Beteta, President and CEO of Visit California, and Zeek Coleman, VP Americas of Tourism Economics. Their presentations delved into not only the economic impact of tourism on the area but also current trends, the recovery and future of the tourism industry. According to Beteta, despite international travelers’ concerns over traveling to the U.S., California remains a standout in terms of favorability and intent to travel.

Key takeaways from The San Francisco Peninsula’s Annual Tourism Luncheon include:

• $156.4 billion in travel-related spending in California in 2024, a 2.7% YOY increase (Dean Runyan Associates).
• $12.6 billion in tax revenue from travel-related spending in California, a 3% YOY increase (Dean Runyan Associates).
• $52 million in visitor spending driven by The San Francisco Peninsula in 2024, including $20 million in labor income and $6 million in state and local taxes (Tourism Economics).
• The San Francisco Peninsula outperformed California and the U.S. in hotel occupancy, demonstrating strong demand for Bay Area visitation - 66% versus 62% (CA) and 56% (U.S.) (CoStar, February YTD 2025).
• Despite economic uncertainty, leisure travel intentions remain strong among higher-income households, which account for more than 60% of hotel spending (Tourism Economics).
• Intended leisure trips are well above what was reported a year ago and maximum travel budgets remain strong (Tourism Economics).

For more information about The San Francisco Peninsula, visit thesanfranciscopeninsula.com.

About The San Francisco Peninsula:

The San Francisco Peninsula is the region’s official Destination Marketing Organization, dedicated to attracting meetings, conventions, business, and leisure travelers. The organization supports the local economy by promoting the area’s 140 hotels and over 250 attractions and travel-related businesses. The San Francisco Peninsula provides convention services, site selection assistance, local supplier contact information, visitor guides, and more. It is also designated to handle the region’s official Film Commission duties. The San Mateo County/Silicon Valley Convention and Visitors Bureau, doing business as The San Francisco Peninsula, is a 501(c)(6) non-profit corporation chartered by the State of California and governed by an independent Board of Directors. For more information, visit www.thesanfranciscopeninsula.com.

About Visit California:

Visit California is a nonprofit organization with a mission to develop and maintain marketing programs – in partnership with the state's travel industry – that keep California top-of-mind as a premier travel destination. For more information about Visit California and for a free California Official State Visitor's Guide, go to visitcalifornia.com. For story ideas, media information, downloadable images, video and more, go to media.visitcalifornia.com.

About Tourism Economics:

Tourism Economics, an Oxford Economics company, combines deep knowledge of tourism dynamics with rigorous economics to answer the most important questions facing global destinations and corporations. More than 500 companies, associations, and destinations work with Tourism Economics annually as a research partner. We bring decades of experience to every engagement to help our clients make better marketing, investment, and policy decisions.

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Our annual event brings together a powerful cross-section of the tourism industry, all united by a shared commitment to the growth and sustainability of our local economy.