Arizona tourism business gaining steam

Arizona small- to medium-sized business owners that operate companies within the tourism industry are receiving good news lately. The state's Office of Tourism released numbers showing that last year, visitors spent $19.3 billion. That equals out to about $53 million per day.

Whether a company leader is looking to open an organization's doors for the first time, or wants to build upon an established brand name, having the right Arizona business insurance policy will help a firm grow stronger. Especially as the Arizona economy is recovering—along with the rest of the country—it is important to keep a company strong for the short- and long-term.

According to State Tourism Director Sherry Henry, businesses in the tourism industries were waiting out the economic lull, ensuring that they were comfortable and stable before making any major investments.

"During the really tough times, what they tried to do is what everybody did: doing more with less," she explained to the Camp Verde Bugle. "Now, everybody's beginning to gain a comfort zone."

Specifically, Arizona employment attributed to tourism last year was pegged at 161,300, which is an increase over 2011, although it still is about 7,200 jobs less than the record set in 2006. But, that was before the economy went into the 2008 recession.

A comprehensive Arizona business insurance policy, or set of policies, is necessary for organizations of all sizes and across numerous industries. Tourism-dependent companies might be accustomed to the ebb and flow of customers, but one natural disaster or unexpected event could throw a serious wrench into normal operations.

Being able to bounce back from a negative event can take time, which means that some business owners will have to pay for expenses out of pocket if they don't have the right coverages. Working with commercial insurance specialists can help company leaders find the best policies for their organizations.

 

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