In 2024, Truckee’s tourism economy plateaued, following year over year declines since COVID-19 peak visitation years. This flattening indicates a meaningful return to growth is still yet to come. Visitor spending increased slightly and sector level trends -- particularly in short-term rentals and retail, show signs of reduced spending.
Visit Truckee-Tahoe hires Dean Runyan & Associates every year to prepare the annual Economic Impact of Travel in Truckee which includes a Truckee Visitor Spending dashboard. This year over year look back, is typically published 5 months after a calendar year ends (May, 2025) and measures total visitor spending, employment and earnings, taxes and tourism fees, travel activity and overnight visitor trends. For a more expanded look, including Nevada County, review the Visit California annual economic report, also produced by Dean Runyan & Associates.
Truckee Visitor Spending Trends - 2023 vs. 2024
- Total Visitor Spending: Increased slightly to $245.7 million, up from $243.9 million in 2023
- Overnight vs. Day Visitors: Overnight (paid) lodging visitors continue to be the primary economic driver, at approximately 70.2% of total spending.
Visitor Behavior & Accommodation Trends
A more detailed look at accommodation types reveals a growing gap between traditional lodging and short-term rentals (STRs)—an important shift given STRs’ dominant role during the post-COVID tourism surge.
- Hotels and Lodges: Visitor spending in these accommodations increased from $64.4 million in 2023 to $67.8 million in 2024, a 5.3% rise.
- Short-Term Rentals (STRs): By contrast, traveler spending from Short-Term Rental guests declined by 2.3%, falling from $107.1 million to $104.7 million.
- Private Homes (VFR - Visiting Friends & Relatives): very slight gain from $22.6 million to $22.8 million (+0.8%).
- Seasonal Homes (Second Homeowners): Spending increased by 0.8%, from $14.0 million to $14.1 million, a small percentage of total traveler spending.
- Day Travel: Up 1.7% year-over-year, with spending growing from $35.9 million to $36.5 million. Day visitors remain a consistent presence, though their economic impact (dining, retail, groceries) is significantly less than that of overnight guests.
How Visitor Dollars Flow Through the Local Economy
The presence of overnight, paying guests ripples through the local economy—supporting everything from coffee shops and grocery stores to outfitters, gas stations, and recreation. Lodging guests spend more the longer they stay, making them foundational to Truckee’s economic vitality.
With 70% of total visitor spending in 2024 attributed to guests who stayed in paid lodging—brand hotels, boutique lodges, and short-term vacation rentals (STVRs)—Truckee’s tourism economy continues to be anchored by overnight visitors. These guests not only contribute directly through lodging revenue but also generate significant secondary impacts across local businesses.
In 2024, overall visitor spending remains flat, increasing only slightly, rising from $243.9 million to $245.7 million. While modest, this uptick reflects a market that is leveling out after post-pandemic highs.
Here’s how that $245.7 million in total visitor spending breaks down:
- Accommodations: Spending on lodging totaled $70.3 million, down slightly (-2.1%) from 2023.
- Food Service (restaurants): One of the few sectors to see growth between 2023-2024, rising to $43.3 million, an 8.3% increase year-over-year.
- Food Stores (groceries and convenience): $50.9 million, up 1.8% from 2023 at $50 million.
- Arts, Entertainment & Recreation: $21.5 million saw a 5.3% jump from 2023.
- Retail Sales (shopping, souvenirs, gear): $39.9 million, down 4.1% from 2023.
Employment and Earnings
Tourism remains a vital pillar of the local economy—not just through direct spending, but through the jobs and wages it helps sustain.
- Jobs Supported: Tourism-related employment rose to 1,670 jobs in 2024, a 4.4% increase from 1,600 jobs in 2023.
- Earnings: Total direct earnings from tourism reached $63.7 million, a 7.7% increase from 2023.
- Accommodations & Food Services: Made up 62.9% of all travel-supported jobs, and saw a 10.6% increase in direct earnings, the largest growth across all sectors.
- Arts, Entertainment & Recreation: Held steady in jobs but saw a 7.4% increase in earnings.
- Retail: Stayed flat in employment and experienced a minor -0.2% decline in direct earnings, the only sector to see a drop.
For the detailed report from Dean Runyan and Associates, refer to the full report here. View the dashboard here.
