(COLORADO SPRINGS) — The City of Colorado Springs said a recent economic analysis revealed the City’s parks, trails, and open spaces generated almost $100 million of economic value in 2024.
According to the City, the report from the Trust for Public Land showed parks, trails, and open spaces generated more than $90 million of economic value from 22 million annual visits. The City said the report underscores the integral role natural spaces play in enhancing both quality of life and fiscal health.
“The economic impact of our parks and recreational facilities cannot be overstated. They foster healthier communities, enhance our environment, and support local businesses,” said Jessie Kimber, City Economic Development Officer. “As we continue to invest in our parks, we create more than just green spaces; we cultivate a vibrant economy in the City of Colorado Springs.”
Some key findings in the 2024 report:
22 million visits to parks and trails in one year. The recreational use value of these visits is estimated at $91.6 million.
Soaring property values: Well-maintained parks are a boon for Colorado Springs real estate, resulting in a $1.1 billion increase in surrounding home values and generating an additional $3.8 million in yearly property tax revenue.
Outdoor recreation’s economic boost: In 2024, local spending on outdoor gear, recreation fees, and admissions to parks and museums poured approximately $192.9 million into the economy.
Tourism dollars at work: Direct travel spending linked to Colorado Springs’ outdoor spaces surpassed $268.6 million in 2023, contributing $10.1 million in local tax revenue.
Parks keep residents healthier and cut healthcare costs: Active lifestyles nurtured by these parks translate to significant financial benefits, with residents saving an estimated $73.7 million annually on healthcare. Adults aged 18 to 65 save around $1,540 per year, while seniors benefit from average savings of $3,096.
The Colorado Springs Parks, Recreation, and Cultural Services Department manages a vast array of facilities, including Garden of the Gods Park, Pikes Peak, four community centers, nearly 19,000 acres of open space, and 150 miles of trails.
