New Orec Industry Data

Letter from the Director

Dear NVOBC members and NV outdoor community,

Our OREC Economy Superbowl has come and gone, and I’m here to give you the highlights!

In case you’re unfamiliar, every year for the last 7 years, the Bureau of Economic Analysis has released a specific report for the Outdoor Recreation industry. These reports give us information on how the OREC Industry has impacted the overall US economy, as well as each individual state. The metrics measured include Gross Economic Output, GDP/Value Added, Employment (jobs provided), and Growth Percentages.

Below are some graphics I put together to present the most important (IMO) data points to come out of the BEA report. If you’d like to nerd out and read the whole thing, you can find it here.

TLDR: The OREC Industry is showing consistent growth across the country and in Nevada, and is outpacing the growth of the US Economy and key industries (farming, mining, & utilities).

I hope you find these numbers cause to celebrate!

Sincerely,
Mandi Elliott
Executive Director, Nevada Outdoor Business Coalition

What does this mean?

$1.2 Trillion in Gross Economic Output! (Whoohoo!)

Gross Economic Output is the measure total economic activity surrounding an industry. For example, if a bike manufacturer buys $500 in materials and sells the bike for $1,500, the Gross Output is $2,000. GO is a more comprehensive view of the economics, since it includes the whole value of the supply chain.

What does this mean?

GDP is the acronym for Gross Domestic Product. Different from the Gross Economic Output, the GDP measures the price at sale minus the cost of materials. Using our previous example:

A bike manufacturer buys $500 in materials and sells the bike for $1,500.
Gross Economic Output: $2,000
Gross Domestic Product: $1,000

The Outdoor Recreation Industry makes up 2.3% of the United States GDP. Considering the massive number of industries that exist in our country, that is a big percentage!

Our industry also employs 3.1% of US Employees.

What does this mean?

The percentage of growth provided is compared to the previous year. In 2023, Nevada’s OREC Industry grew by 12.8% compared to 2022!!

In the state of Nevada, OREC makes up 3.3% of the state’s GDP.

What does this mean?

The percentage of growth provided is compared to the previous year. In 2023, Nevada’s OREC Industry grew by 12.8% compared to 2022!!

In the state of Nevada, OREC makes up 3.3% of the state’s GDP.

In Conclusion

As this newsletter draws to a close, I want to emphasize how exciting this data is. These metrics are more than just numbers, they represent the value (literally and figuratively) of the outdoors to the US people and the great state of Nevada.

Outdoor Recreation is good for people, and it is good for the economy.

Spend some time outside, and don’t forget to invest in your favorite outdoor advocacy orgs!