Flooding Damage Could Cost Millions in State Tourism Revenue
KREX News Room
ESTES PARK, Colo. - A drop in tourist visits to Estes Park as a result of flood-damaged roads could have a ripple effect through the rest of Colorado’s economy, officials say.
The report from Regional Economics Institute at Colorado State University examined a variety of scenarios, including the possibility that tourist visits to the western gateway to Rocky Mountain National Park could drop between 30 and 100 percent.
If tourism activity in Estes Park were to decline 70 percent, it could translate into a loss of 1,111 jobs, a $90 million decrease in state economic activity, and a $46.1 million drop in real household income. In addition, state tax revenue could dip by $5.8 million and local tax revenue by $4.4 million.
The true extent will depend on how quickly the state’s highway infrastructure in the northern foothills can be repaired.