Myrtle Beach Area Chamber & CVB Shares Economic Outlook for 2023, Indicators Point to Continued Travel Momentum

The Myrtle Beach Area Chamber of Commerce (MBACC) and Convention and Visitors Bureau (CVB) is pleased to share various indicators showing a continued momentum for travel to the Grand Strand in 2023.

“We see good things for the travel sector across the nation and we have no reason to expect any different in Myrtle Beach. The destination is going to have a good year next year as well,” said Tourism Economics’ Geoff Lacher during a recent online presentation hosted by MBACC and CVB.

According to Tourism Economics’ data, Myrtle Beach is expected to experience visitation numbers similar to 2022, yet, at a slightly slower pace due to an expected downturn in the economy during the first half of 2023.

Lacher pointed to several factors propelling tourism forward, including the continued pent-up demand for travel following the pandemic, increased gains seen in the business and group travel sectors, declining gas prices, fiscally strong households and businesses, and a strong momentum for travel heading into the new year.

Underlining the current demand for the destination, Myrtle Beach recently made Tripadvisor’s list of “Top 10 Trending Winter Destinations for U.S. Travelers,” which revealed the fastest growing domestic destinations that U.S.-based website users are searching for year over year.

In addition, the region’s lodging occupancy rates are pacing 10 to 15 points above 2019 levels for the current holiday season and into the early 2023, according to KeyData numbers showcased on the CVB’s Lodging Metrics Dashboard.

“The CVB is increasingly marketing the destination as a place to visit during the cooler months, including showcasing the region’s abundance of holiday and winter activities such as the Myrtle Beach Bowl held on Dec. 19,” said MBACC and CVB President and CEO Karen Riordan. “These efforts maintain tourism and sustain our economy and employment opportunities year-round.”

A new study from Longwoods International shows that every $1 invested in a Myrtle Beach advertising campaign generates $180 in direct visitor spending and $24 in local tax revenues.

“As we move into the new year, we remain confident in our destination’s resiliency and that our efforts in tourism marketing are growing our local economy, building stronger communities and keeping the tax burden off the shoulders of our residents,” Riordan said.