Local development organization discusses economic recovery in Columbia

COLUMBIA, Mo. (KMIZ)

Regional Economic Development Incorporated board members met Wednesday going over an update on travel and tourism in Columbia.

Amy Schneider, Director of Columbia's Convention and Visitor's Bureau said it's important to look at the climate of tourism nationwide and throughout the state.

Schneider said the travel economy witnessed its fourth consecutive week of expansion the week of May 23 since the start of the pandemic.

Schneider said the travel economy was 84% below last year's levels. The percentage drop represents an $18.5 billion loss in revenue across the travel industry, Schneider said. She added travel spending is expected to fall by more than $1 trillion for the year.

Schneider said tourism, business sales and tax collections in Columbia through February 2020 were projected to increase by 2.5% before the pandemic hit.

Schneider said occupancy at Columbia hotels were around 61% occupancy in April 2019. Hotel occupancy fell by 21.5% over April 2020. 

The tourism director said Columbia hotels went from collecting more than $284,000 and lodging taxes in 2019 to collecting just over $49,000 in 2020. 

Matt Jenne, chair of REDI, said this is something that the communtiy needs to recognize and come together to help bring those numbers up.

Jenne said in relation to finances the ambassadors are the lifeblood of this organization. 

"I think it's just getting people out and about," Jenne said. "And people getting more and more comfortable being out. If they find that to be a pleasant experience and so they go, hey, maybe we can go to a town and stay in a hotel that kind of thing. I think it's just a slow build back up.”

Jenne said he noticed that everyone is pitching in at a time where some budgets may be tight. He added the contributions have made a difference in the community and will help the local economy.

Schneider said Missouri has seen a bump in weekly bookings in recent weeks.

“Bookings have climbed for the fifth straight week,” Schneider said. “That still showed us down 77% from 2019, but it does show that there is hope. I think that's one thing that we need to understand that there is a future and it looks good.”

Schneider said the largest factor impacting travel decisions over the next six months is the COVID-19 pandemic.

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