San Juan, Puerto Rico – Visitors to Puerto Rico spent over $2 billion during the 2023-2024 fiscal year, according to the latest edition of the Visitor Profile study conducted by the Puerto Rico Tourism Company (PRTC) and the Institute of Statistics (IE).
The study, based on surveys of 23,782 respondents at the three international airports and Old San Juan docks between July 2023 and June 2024, revealed that the average expenditure for air arrivals was $768, while cruise ship passengers spent an average of $69.74. Non-Puerto Rican visitors, representing 37% of the total, had the highest average spending at $933, surpassing Puerto Rican residents living outside the island who spent an average of $670.
The average trip duration for both visitor types was eight days, and the total spending by all visitors during the fiscal year reached $2.546 billion.
Orville Disdier Flores, the executive director of the IE, highlighted the study's importance, noting that the U.S. Bureau of Economic Analysis uses it to calculate Puerto Rico's Gross Domestic Product (GDP) estimates, which currently account for approximately 3% of this economic indicator.
"These surveys contribute to the determination of the Gross Domestic Product and generate statistics on the characteristics of travelers, information that is necessary for decision-making at both the government and private sector levels," Disdier explained.
Breakdown of Spending
Accommodation: 35%
Casinos: 25%
Food and Beverages: 14%
Vehicle Rental: 13%
Transportation: 6%
Shopping: 3%
Methodology To estimate visitor spending, the weighted results of the survey were extrapolated using data from the Bureau of Transportation Statistics (BTS) and the PRTC. The proportion of passengers meeting the definition of a "visitor" was calculated and applied to the total number of reported passengers.
While an estimated 14 million passengers traveled through Puerto Rico's airports and seaports last year, not all were considered visitors. The study focused on the approximately 3.5 million air visitors and 1.1 million cruise ship visitors.
Comparison to Previous Years Although this specific study hasn't been conducted since 2017, other similar studies have been carried out. For instance, Tourism Economics estimated that Puerto Rico welcomed 10.8 million passengers in 2023, generating an estimated $9.8 billion in spending. However, this figure was calculated using a different methodology.
Where Visitors Spend Their Money The majority of air visitors' spending (35%) was on accommodation, followed by 25% on casinos, 14% on food and beverages, 13% on vehicle rentals, 6% on transportation services, 3% on shopping, and 3% on other expenses.
The January-March quarter saw the highest visitor spending, with an estimated 917,202 visitors and a total expenditure of $756.4 million.
Carlos Mercado Santiago, the executive director of the PRTC, emphasized that "the new Traveler Survey questionnaires were specifically designed to address the data needs identified by the PRTC, Discover Puerto Rico, the Department of Economic Development and Commerce, the Puerto Rico Planning Board, and Aerostar Airport Holdings, LLC. This strategic adaptation allowed us to collect key information for the planning, execution, and evaluation of short- and long-term promotion strategies, in addition to meeting the primary objectives of economic statistics."
[Copyright (c) Global Economic Times. All Rights Reserved.]
