Senate Democrats

Economic Statistics of the BP Oil Spill

As the BP oil spill continues, the Gulf Coast’s fishermen, tourism industries, small businesses, and local governments are being threatened with serious economic costs.   While the total economic impact of the spill remains to be seen, it is clear that the damages will be significant, given that the tourism and fishing industries alone generate billions of dollars each year.

Here are just a few examples of the value of the industries to the Gulf Coast.

Tourism–Gulf Coast

1.      The value of the Gulf Coast’s tourism industry [EPA; Last Accessed 5.18.10]:

$20 billion


Tourism–Florida

2.     The value of Florida’s tourism industry [Miami Herald; Last Accessed 5.18.10]:

$60 Billion

3.     The percentage reductions in hotel occupancy rates between Pensacola and Panama City [Wall Street Journal; Last Accessed 5.18.10]:

30 Percent

4.     The estimated percentage reductions in hotel occupancy rates during Memorial Day along the Florida panhandle[1] [Wall Street Journal; Last Accessed 5.18.10]:

70 Percent


Tourism–Alabama

5.      The amount of money spent by tourists on Alabama’s beaches in 2008 S.4UK20100429" target="_blank">[Reuters; Last Accessed 5.18.08]

$2.3 Billion

6.     The number of workers supported by tourists on Alabama’s beaches in 2008 S.4UK20100429" target="_blank">[Reuters; Last Accessed 5.18.08]

41,000

7.     Percentage of cancellations already being recorded on Dauphin Island where the first tar balls came ashore [Wall Street Journal; Last Accessed 5.18.08]:

50 Percent


Tourism–Louisiana

8.     The amount of money domestic travelers spent in Louisiana in 2008 [Louisiana Office of Tourism; Last Accessed 5.18.10]:

$9.3 Billion

9.      The amount of tax revenue for generated by domestic travel in Louisiana for federal, state, and local governments in 2008 [Louisiana Office of Tourism; Last Accessed 5.18.10]:

$1.1 Billion

10.  Number of Louisiana’S.64 parishes that received over $100 million in travel expenditures in 2008 [Louisiana Office of Tourism; Last Accessed 5.18.10]:

15


Commercial Fishing–Louisiana

11.  The value of the commercial seafood industry in Louisiana [The Economist; Last Accessed 5.18.08]:

$2.4 Billion

12.  The percentage amount of seafood that Louisiana catches in the continental U.S. [Wall Street Journal; Last Accessed 5.18.08]:

40 Percent


Commercial Fishing–Gulf Coast

13. The size of the area in the Gulf of Mexico currently closed to fishing [Joint Information Center; Last Accessed 5.28.10]:

75,920 square miles

14.  The value of the commercial seafood harvest that was to begin on May 15th [Wall Street Journal; Last Accessed 5.18.10]:

$21 Billion

15.  The percentage amount of total U.S. seafood production coming from the Gulf Coast [Wall Street Journal; Last Accessed 5.18.10]:

20 Percent


Recreational Fishing–Louisiana

16. The value of the recreational fishing industry in Louisiana [The Economist; Last Accessed 5.18.08]:

$1 Billion