Colorado tourism paradox: Record spending vs. the fight for market share

On this week's edition of the Business Buzz, 9NEWS Business Expert Ryan Frazier was joined by Timothy Wolfe, Director of the Colorado Tourism Office (CTO), to discuss new data showing record tourism spending, and the strategies local businesses need to maintain their competitive edge.

On the surface, the state's tourism economy is thriving. According to a new report, tourism contributed a record $29.2 billion to the Colorado economy in 2025, welcoming 96.8 million visitors. The industry directly generated $1.91 billion in state and local tax revenue.

However, a closer look at the data reveals that local businesses are facing significant headwinds and a fierce battle for out-of-state dollars. While Colorado's visitor spending grew by a modest 2%, overall U.S. travel spending surged by 4.2%. Consequently, Colorado’s market share has dropped from a high of 2.3% in 2019 to 1.79% in 2025.

To maintain its status as a premier destination, Colorado has to fight to keep its competitive edge. The data underscores the precarious nature of an economy tethered to the weather. Communities across the state—particularly mountain resort destinations—experienced seasonal declines in visitation as high as 40% due to lower-than-average snowfall and the proximity of wildfires.