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Galveston Economic Indicators
by David Stanowski


Sales Tax
Hotel Revenue
Residential Real Estate
Cruise Ship Data
Mixed Beverage Tax



Monthly Sales Tax Data: Latest Update: 09 August 2013

Sales tax collections are a very good proxy for overall economic activity, excluding investment. They are also very accurate, because they do not rely on estimates or formulas; they represent actual sales.

Note: Collections posted for a given month represent sales about 2 months prior to that date.

Sales tax collections plunged to a 10-year low in January 2012, when they hit $787,761, the lowest since March 2002, when they were $767,029, however, there has been a strong rebound over the last 19 months!

The chart shows the decrease in the local sales tax from $2,018,138 in August 2012 to $1,901,817 in August 2013 (see data points circled in yellow)!

August 2013 sales tax collections of $1,901,817 are 5.8% below the collections for August 2013; the best August on record!

August 2012 was the first time that local sales tax has exceeded $2 million, and represents the all-time high! 



The year-over-year rate of change in City sales tax collections spiked lower in October 2008 in the aftermath of Hurricane Ike, and then surged in October 2009, because October 2008 was such a low baseline. Likewise,
the year-over-year rate of change in City sales tax collections spiked lower in January 2012, and then surged in January 2013, because January 2012 was such a low baseline.

August sales tax collections were 5.8% lower than collections a year ago!



Please note: State sales tax reporting runs one month behind that of the City, so the latest data point is City July versus State July.

This metric simply divides the amount of sales tax collected by the City of Galveston by the amount of sales tax collected by the State of Texas. The City's share reached an anemic 0.058% in October 2008 when many businesses were shut down due to Hurricane Ike. The ratio hit the high of this study period, 0.114%, in August 2009, nearly double the reading at the low point, most likely due to the rebuilding efforts.

Unfortunately, the City's share of State sales hit a 10 1/2-year low in January 2012 (0.039), but after an 8-month rebound, it has been dropping for the last 10 months.

There is also a clear downward sloping trend channel forming indicating that the local economy continues to weaken when compared to the overall State economy!


This study simply computes the 12-month moving average of the amount of sales tax collected by the City of Galveston divided by the amount of sales tax collected by the State of Texas. In other words, this graph more clearly shows the longer term trend of the City's share of the State's total taxable sales than the previous graph that fluctuates widely on a monthly basis.

The long term trend is clearly down showing that City sales are getting weaker relative to what the entire state is doing. In fact, the
12-month moving average has declined 24% from its high in February 2004 to its low in January 2013 giving some perspective to the degree of the local softness in sales!

Monthly Local Sales Tax
X January YoY
% Change
February YoY
 % Change
March YoY
% Change
2008 $1,364,061 ++14.4% $1,664,745 +17.8% $1,188,277 +5.5%
2009 $1,490,502 +9.3% $1,797,157 +8.0% $1,372,358 +15.5%
2010 $1,009,251 -32.3% $1,360,776 -24.3% $931,082 -32.2%
2011 $1,023,256 +1.4% $1,416,349 +4.1% $1,076,966 +15.7%
2012 $787,761 -23.0% $1,660, 325 +17.2% $1,152,247 +7.0%
2013
$1,140,070 +44.7% $1,503,560 -9.4% $1,248,434 +8.3%
X X X X X X X
X April YoY
% Change
May YoY
% Change
June YoY
% Change
2008 $1,235,003 +5.3% $1,595,810 -5.4% $1,304,170 +8.9%
2009 $1,358,940 +10.0% $1,720,914 +7.8% $1,424,579 +9.2%
2010 $997,516 -26.6% $1,482,394 -13.9% $1,039,080 -27.1%
2011 $976,108 -2.1% $1,632,281 +10.1% $1,187,485 +14.3%
2012
$1,042,993 +6.9% $1,597,011 -2.2% $1,306,725 +10.0%
2013 $1,183,430 +13.5% $1,702,992 +6.6% $1,341,758 +2.7
x x x x x x x
X July YoY
% Change
August YoY
% Change
September YoY
% Change
2008 $1,364,881 -0.3% $1,872,779 +2.7% $1,787,516 +12.3%
2009 $1,339,994 -1.8% $1,993,911 +6.5% $1,602,092 -10.4%
2010 $1,206,580 -10.0% $1,714,011 -14.0% $1,486,870 -7.2%
2011 $1,262,706 +4.7% $1,816,468 +6.0% $1,596,087 +7.3%
2012
$1,428,370 +13.1% $2,018,138 +11.1% $1,829,425 +14.6%
2013
$1,464,186 +2.5% $1,901,187 -5.8% X X

X X X X X X
X October YoY
% Change
November YoY
% Change
December YoY
% Change
2008 $1,001,001 -34.0% $1,212,319 -26.4% $1,374,518 +15.3%
2009 $1,413,435 +41.2% $1,587,960 +31.0% $1,070,841 -22.1%
2010 $1,337,874 -5.3% $1,537,453 -3.2% $1,088,606 +1.7%
2011 $1,410,557 +5.4% $1,535,589 -0.1% $1,113,600 +2.3%
2012 $1,742,267 +23.5% $1,666,143 +8.5% $1,259,799 +13.1%
 

Yearly Sales Tax Data: Latest Update: 15 December 2012

Sales tax collections are a very good proxy for overall economic activity, excluding investment. They are also very accurate, because they do not rely on estimates or formulas; they represent actual sales.

2008 held even with 2007 sales due the beginning of the rebuilding effort in the aftermath of Hurricane Ike. 2009 got a bump from increased rebuilding, and 2010 reflects the local economic slump as rebuilding slowed. 2011 and 2012 showed strong growth.



The 25-year history of sales tax collections shows only two slightly negative year-over-year rates of change in City sales tax collections in 1988 and 2002, until the unprecedented 16% plunge in 2010. More recently, 2008 was flat, and then 2009 experienced healthy growth, before the plunge in 2010. 2011 and 2012 saw renewed growth from the low baseline in 2010.

Yearly City of Galveston Local Sales Tax

Year Sales Tax YoY
% Change
1986 $3,594,799 X
1987 $3,652,806 +1.6%
1988 $3,609,246 -1.2%
1989 $5,396,020 +49.5%
1990 $6,270,618 +16.2%
1991 $6,281,869 +0.2%
1992 $6,427,775 +2.3%
1993 $6,461,990 +0.5%
1994 $7,387,631 +14.3%
1995 $7,804,651 +5.6%
1996 $9,364,170 +20.0%
1997 $9,744,335 +4.1%
1998 $10,396,081 +6.7%
1999 $11,336,220 +9.0%
2000 $11,704,283 +3.2%
2001 $12,546,407 +7.2%
2002 $12,357,793 -1.5%
2003 $12,948,954 +4.8%
2004 $13,257,799 +2.4%
2005 $14,097,790 +6.3%
2006 $16,369,646 +16.1%
2007 $16,926,890 +3.4%
2008 $16,965,085 +0.2%
2009 $18,172,687 +7.1%
2010 $15,191,499 -16.4%
2011 $16,047,055 +5.6%
2012 $17,491,206 +9.0%



Monthly Hotel Data: Latest Update: 16 August 2013

2012 was the first time in 12 years that July was NOT the peak month in hotel revenues! July could not better the all-time high made in June.

Until now, July has been the peak month in hotel revenues every year for the period in question, and January the low point. Since the Great Recession began in the Fall of 2007, and was even more severe in the Summer of 2008, the fact that revenue pushed to a new high in July 2008 supports the theory that people in the Houston metro-area chose to take vacations closer to home to save money that summer. With revenue soaring to its all-time high in June 2012, it seems clear that the continuing weak economy has convinced
people in the Houston metro-area that vacationing closer to home is still the prudent choice!

The chart shows the decrease in the hotel revenues from $21,656,519 in June 2012 to $18,120,998 in June 2013 (see data points circled in yellow)!

June 2013 hotel revenues of $18,120,998 are 16.3% below the June 2012 hotel revenue of $21,656,519; the best June for hotel revenue in history!


June hotel revenue was 16.3% lower than hotel revenue a year ago!

This is the first major year-over-year decline in hotel revenues in 17 months.



The number of hotel rooms peaked at 5,394, in September 2008, and then hit a low point of 4,412 in July 2009. More recently, the number of rooms declined steadily from 5,159 in February 2011 to 4,753 in February 2012; but then rebounded to 5,328 in June 2013.


2012 was the first time in 12 years that July was NOT the peak month in hotel revenue per room! July could not better the all-time high made in June. 


Until now, July has been the peak month in hotel revenue per room every year for the period in question, and January the low point.
 

Like total hotel revenue, revenue per room pushed to a new high in July 2008, and soared to its all-time high in June 2012!

The chart shows the decrease in the revenue per room from $4,366 in June 2012 to $3,401 in June 2013 (see data points circled in yellow)!

June 2013 hotel revenue per room of $3,401 is 22.1% below the revenue per room of $4,366 in June 2012; the best June for revenue per room on record!

City of Galveston Hotel Revenue
X January YoY
% Change
February YoY
 % Change
March YoY
% Change
2008 $4,901,186 +12.0% $6,906,651 +16.2% $11,260,815 +9.5%
2009 $9,892,559 +101.8% $9,588,647 +38.8% $9,715,819 -13.7%
2010 $3,348,998 -66.1% $5,014,260 -47.7% $8,649,651 -10.9%
2011 $5,232,129 +56.2% $5,224,495 +4.2% $10,036,254 +16.0%
2012 $4,711,983 -9.9% $6,195,405 +18.6% $11,749,038 +17.1%
2013 $5,131,490 +8.9% $7,047,518 +13.8% $12,398,701 +5.3%
x x x x x x x
X April YoY
% Change
May YoY
% Change
June YoY
% Change
2008 $8,348,850 +13.3% $16,097,854 +56.5% $17,096,913 +4.4%
2009 $6,700,740 -19.7% $7,839,089 -51.3% $10,957,569 -35.9%
2010 $7,032,202 +4.9% $8,865,572 +13.0% $13,911,786 +26.9%
2011 $8,891,364 +26.4% $9,839,928 +11.0% $15,903,690 +14.3%
2012 $9,257,500 +4.1% $11,485,524 +16.7% $21,656,519 +36.2%
2013 $9,918,978 +7.2% $12,075,188 +5.1% $18,120,998 -16.3%
x x x x x x x
X July YoY
% Change
August YoY
% Change
September YoY
% Change
2008 $20,350,206 +16.1% $14,118,536 +2.6% $6,314,685 -41.3%
2009 $14,421,624 -29.1% $11,522,993 -18.3% $5,621,280 -10.9%
2010 $17,648,951 +22.3% $11,357,554 -1.4% $7,003,974 +24.6%
2011 $21,061,282 +19.3% $13,797,176 +21.5% $7, 944,358 +13.4%
2012 $20,874,504 -0.9% $16,420,484 +19.0% $8,720,411 +9.8%
x x x x x x x
X October YoY
% Change
November YoY
% Change
December YoY
% Change
2008 $12,234,593 +68.7% $8,050,689 +9.1% $10,441,196 +82.9%
2009 $5,552,354 -54.6% $4,956,523 -38.4% $3,779,287 -60.5%
2010 $6,345,493 +14.2% $5,332,141 +7.6% $4,362,844 +15.8%
2011 $6,969,213 +9.8% $6,379,248 +19.6% $4,676,826 +7.2%
2012 $7,255,049 +4.1% $7,294,702 +14.4% $5,494,381 +17.5%


Yearly Hotel Data: Latest Update: 23 February 2013

Revenues began rapid growth in 2005, but almost dropped back to 2005 levels in 2009 and 2010. 2008 hotel revenue was artificially boosted by post-Ike demand for hotel rooms in the 4th quarter. Without this skewing due to hurricane Ike in 2008, 2012 would have been the all-time high in hotel revenue!


2009 is the first year during the period studied that showed dramatically lower revenue than the previous year.

2012 was up 13.1% versus 2011!


The average number of rooms showed sustained growth during this period until 2009, but recovered in 2010 and 2011 to hold near 5,000. The average number of rooms declined in 2012, but did finish the year above 5,000.


Revenues per room began rapid growth in 2005, but declined dramatically in 2009 and 2010; they rebounded nicely in 2011 and 2012!

Without the skewing due to hurricane Ike in 2008, 2012 would have been the all-time high in hotel revenue per room!

City of Galveston Hotel Revenue
Year Revenue YoY
% Change
2000 $74,538,068 X
2001 $73,536,204 -1.3%
2002 $73,658,796 +0.2%
2003 $75,327,921 +2.3%
2004 $79,456,214 +5.5%
2005 $95,054,733 +19.6%
2006 $106,031,846 +11.6%
2007 $117,017,604 +10.4%
2008 $136,122,179 +16.3%
2009 $99,950,845 -26.6%
2010 $98,873,429 -1.1%
2011 $115,955,962 +17.3%
2012 $131,136,288 +13.1%


HENDERSONVILLE, Tennessee—The U.S. hotel industry reported growth in all three key performance metrics in 2012, according to data from STR.

Overall, the U.S. hotel industry’s occupancy increased 2.5 percent to 61.4 percent, its average daily rate was up 4.2 percent to US$106.10 and its revenue per available room grew 6.8 percent to US$65.17.

“Fiscal cliffs, hurricanes, elections and, at times, a sense of overwhelming uncertainty did not deter positive 2012 year-end performance results,” said Brad Garner, STR’s COO. “Annualized roomnights sold increased by 3.0 percent in 2012, and outpaced the 2007 previous peak levels by 60 million rooms (1.09 billion rooms in 2012 versus 1.03 billion in 2007). Room rates for hotels increased by over 4.0 percent, pushing industry-wide RevPAR by almost 7.0 percent. The industry was also unencumbered by supply growth of 0.5 percent.

“While the industry’s resolve will continue to be tested with pockets of uncertainty, we anticipate continued growth in all industry performance metrics for 2013,” Garner commented.

Among the Top 25 Markets, Houston, Texas, reported the largest occupancy increase, rising 9.4 percent to 65.4 percent, followed by Nashville, Tennessee (+5.8 percent to 65.6 percent), and New Orleans, Louisiana (+5.5 percent to 67.6 percent). Phoenix, Arizona, reported the only decrease, down 0.4 percent to 57.7 percent.

Oahu Island, Hawaii (+11.2 percent to US$183.51), and San Francisco/San Mateo, California (+10.8 percent to US$171.72), achieved the largest ADR increases for the year.

Seven markets experienced RevPAR growth of 10 percent or more: Oahu Island (+16.7 percent to US$155.37); New Orleans (+14.6 percent to US$89.81); Houston (+13.8 percent to US$61.63); San Francisco/San Mateo (+12.8 percent to US$137.99); Tampa-St. Petersburg, Florida (+11.5 percent to US$63.13); Los Angeles-Long Beach, California (+11.0 percent to US$98.11); and Chicago, Illinois (+10.0 percent to US$83.50).

Washington, D.C., posted the only ADR (-0.7 percent to US$143.84) and RevPAR (-0.5 percent to US$97.09) decreases for the year.

STR will release its 2013 and 2014 forecast at the Americans Lodging Investment Summit on 23 January 2013.
http://www.hotelnewsnow.com/Articles.aspx/
9748/STR-US-hotels-report-continued-growth-in-2012



Monthly Residential Real Estate Data:
Latest Update: 24 August 2013




The chart shows the increase in total dollar sales from $17,949,647 in July 2012 to $27,186,364 in July 2013 (see data points circled in yellow)!

July 2013 total dollar sales of $27,186,364 are still 14.2% below the July 2005 total dollar sales of $31,700,000; the best July on record.

Galveston Residential Real Estate Total Dollar Sales Year Over Year Rate of Change

July 2013 total dollar sales were 51.5% higher than July 2012!

Galveston Residential Real Estate Total Sales

The number of properties sold peaked at 160 in April 2005, and the number of months of inventory made its low of 6.3 in the same month. 

The chart shows the increase in total sales from 96 in July 2012 to 118 in July 2013 (an increase of 22.9%) (see data points circled yellow)! The number of months of inventory in July 2013 was 10.0.

The number of properties listed for sale has declined from a peak of 1,964 in June 2007 to 830 in July 2013.

July 2013 total sales of 118 are still 15.7% below the July 2005 total sales of 140; the best July on record.

U.S. Residential Real Estate Total Sales

U.S. Residential Real Estate Total Sales

The volume of residential real estate sales nationwide clearly show how weak the current rebound really is regardless of rising prices! Sales are barely exceeding the previous low points in 1974-75, 1980-82, and 1992.

The average price of residential real estate held up much longer than the national averages, peaking in March 2008 as opposed to 2005-2006 in most locations. After the plunge in 2009, to the April low, where prices were 56% below their peak levels, they have rebounded to $261,200, in June 2013.

Obviously, some portion of the 2009 plunge was distressed selling, due to Hurricane Ike, but with 7,671 "distressed" vacant housing units in the City, the difficulty of finding people who want to live in Galveston, and the weak national and local economies may lead to further price declines in the coming years.

Vacant Housing Crisis
Galveston Glut: 3,237 Vacant Rentals


The chart shows the increase in the average home price from $187,000 in July 2012 to $230,400 in July 2013 (see data points circled in yellow)!

The July 2013 average home price of $230,400 is still 10.9% below the July 2008 average home price of $258,500; the highest average home price for the month of July in history.


July 2013's Average Home Price was 23.2% higher than in July 2012!


Looking at the average selling price versus its 120-month moving average (a simple measure of the long-term value) finds prices consistently and substantially above their 120-month MA until the post-Ike collapse hit in December 2008; followed by a fairly strong rebound after five negative months. This study would argue that there need to be more price declines in the future to allow prices to find levels that are more in line with measures of long-term value.

Conclusion:

June's average home price of $261,200 was only 3.4% below Galveston's all-time high price of $270,400 set in March 2008!

Does the surge in prices represent a healthy rally that seems sustainable? What are the perverse "side effects" of rising home prices?

The Case-Schiller 20-City Index, a measure of national home prices, is only up 12.2% over the last year (May 2012 to May 2013), AND it is still 24.4% below its all-time high set in July 2006.

Case-Schiller 20-City Monthly Home Prices

Compare this to Galveston over the same period:

Galveston Monthly Home Prices

Why are Galveston home prices so much stronger than the national numbers?


Finally, unlike most other investments, real estate has very high carrying costs. For example, holding a stock that goes up 24% in price has no cost until it is sold and capital gains taxes are due. Holding real estate that goes up 24% in price increases the property taxes and insurance costs for the owner. If the real estate isn't sold to capture the gain and end the burden of property taxes and insurance fees; where is the current benefit?

The current local price surge means that local real estate owners can look forward to higher property taxes and insurance costs. This will lower the amount of money that they have to spend in the local economy, so where is the benefit?

City of Galveston Residential Real Estate Average Price
X January YoY
% Change
February YoY
 % Change
March YoY
% Change
2008 $196,500 -15.6% $223,400 -7.9% $270,400 +7.7%
2009 $121,500 -38.2% $123,800 -44.6% $133,100 -50.8%
2010 $194,400 +60.0% $213,800 +72.7% $231,900 +74.2%
2011 $206,600 +6.3% $245,100 +14.6% $235,700 +1.6%
2012 $149,300 -27.7% $232,200 -5.3% $175,900 -25.4%
2013 $226,400 +51.6% $234,200 +0.9% $234,200 +33.1%
x x x x x x x
X April YoY
% Change
May YoY
% Change
June YoY
% Change
2008 $231,400 +9.0% $241,700 +11.0% $241,100 +11.3%
2009 $120,200 -48.1% $178,900 -26.0% $203,900 -15.4%
2010 $221,900 +84.6% $210,400 +17.6% $226,800 +11.2%
2011 $236,900 +6.8% $216,700 +3.0% $187,300 -17.4%
2012 $196,000 -17.3% $211,500 -2.4% $210,300 +12.3%
2013 $250,600 +27.9% $250,000 +18.2% $261,200 +24.2%
x x x x x x
X July YoY
% Change
August YoY
% Change
September YoY
% Change
2008 $258,500 +18.1% $256,300 +21.7% $200,200 -10.7%
2009 $183,400 -29.1% $182,000 -29.0% $175,800 -12.2%
2010 $232,000 +26.5% $239,000 +31.3% $161,000 -8.4%
2011 $205,200 -11.6% $195,700 -18.1% $225,700 +40.2%
2012
$187,000 -8.9% $212,200 +8.4% $217,800 -3.5%
2013 $230,400 +23.2% d d d d
d d d d d d d
X October YoY
% Change
November YoY
% Change
December YoY
% Change
2008 $207,200 -16.0% $213,700 +2.7% $149,300 -29.1%
2009 $196,700 -5.1% $222,300 +4.0% $168,900 +13.1%
2010 $227,000 +15.4% $176,000 -20.8% $230,600 +36.5%
2011 $214,100 -5.7% $191,000 +8.5% $206,300 -10.5%
2012 $233,000 +8.8% $233,800 +22.4% $238,700 +15.7%


Yearly Residential Real Estate Data:
Latest Update: 06 June 2013



Yearly total dollar sales also tend to show that the local market was topping in the 2005-2006 period even though prices held up beyond that time. Total dollar sales peaked in 2005 at $260,280,000, but 2006 and 2007 also exceeded $250,000,000. 2008 and 2009 show the effects of the weak national and local economies, as well as Hurricane Ike. 2010, 2011 and 2012 rebounded from the 2009 low, so that 2012 total dollar sales slightly exceeded 2004 levels.

On a yearly basis, the number of properties sold peaked at 1,294 in 2005, but 2012 did improve to 977 from 755 in 2009.

The yearly data also show that the average price of residential real estate has held up much longer than the national averages, peaking in 2008 as opposed to 2005-2006 in most locations. Prices plunged in 2009, in the aftermath of Hurricane Ike, but have rebounded in 2010, 2011 and 2012; although prices in 2011 and 2012 were lower than 2010.

Note: The City of Galveston has the most unfordable residential real estate in the County which will continue to act as a major obstacle to clearing the local housing inventory, including the "shadow inventory" made up of several thousand vacant housing units.
Read more: Click Here

Year Sales Total Dollar Sales Average Price
1979 398 $19,882,023 $50,000
1980 439 $24,247,135 $55,200
1981 444 $24,553,645 $55,300
1982 411 $25,600,504 $62,300
1983 390 $24,979,570 $64,100
1984 455 $31,795,438 $69,900
1985 396 $25,764,478 $65,100
1986 295 $21,808,318 $73,900
1987 246 $17,268,950 $70,200
1988 271 $17,638,430 $65,100
1989 339 $22,072,857 $65,100
1990 319 $22,444,618 $70,400
1991 372 $30,151,836 $81,100
1992 412 $31,319,527 $76,000
1993 529 $45,855,256 $86,700
1994 657 $54,352,029 $82,700
1995 652 $58,535,252 $89,800
1996 752 $71,215,759 $94,700
1997 650 $64,494,000 $99,200
1998 804 $91,293,765 $113,500
1999 842 $97,533,627 $115,800
2000 864 $112,475,000 $130,200
2001 745 $105,494,680 $141,600
2002 899 $129,698,402 $144,300
2003 905 $139,778,592 $154,500
2004 1130 $196,260,000 $173,700
2005 1294 $260,280,000 $201,100
2006 1155 $254,690,000 $220,550
2007 1157 $258,680,000 $223,600
2008 898 $211,745,000 $235,800
2009 755 $128,201,400 $169,800
2010 870 $188,476,941 $216,600
2011 909 $193,685,770 $213,100
2012 977 $205,319,586 $210,200


Learn Purchase Real Estate for Cents on the Dollar!


Monthly Cruise Ship Data: Latest Update: 13 August 2012

Galveston Cruise Ship Passengers Monthly
Source: Port of Galveston

The number of cruise ship passengers peaked in December 2005 and December 2006 at nearly 70,000. They declined from there, and then collapsed in September and October 2008, due to Hurricane Ike, but have rebounded to 59,704 in January 2012.  


The chart shows the increase in cruise ship passengers from 33,198 in June 2011 to 38,941 in June 2012 (see data points circled in yellow)!

Galveston Cruise Ship Vehicles Parked Monthly
Source: Port of Galveston

The number of cruise ship vehicles parked peaked in March 2007 at 8,983. They declined from there, and then collapsed in September and October 2008, due to Hurricane Ike, but have rebounded to 7,129 in March 2012.  

Note: the June data on vehicles parked was corrupted, so the most recent data is for May.

The chart shows the increase in cruise ship 
vehicles parked from 4,500 in May 2011 to 5,942 in May 2012 (see data points circled in yellow)!

Galveston Cruise Ship Calls Monthly
Source: Port of Galveston

The number of cruise ship calls peaked in January and February 2006 at 29. They declined from there, and then collapsed in September and October 2008, due to Hurricane Ike, but have rebounded to 17 in January 2012.  


The chart shows the decline in cruise ship passengers from 11 in June 2011 to 10 in June 2012 (see data points circled in yellow)!


Monthly Cruise Ship Passengers
X January YoY
% Change
February YoY
 % Change
March YoY
% Change
2008 41,294 +-25.1% 38,783 -26.1% 51,247 -23.9%
2009 38,446 -6.9% 38,282 -1.3% 49,825 -2.8%
2010 46,081 +19.9% 38,718 +1.2% 44,834 -10.0%
2011 48,597 +5.5% 38,469 -0.7% 43,049 -4.0%
2012 59,704 +22.9% 48,364 +25.7% 55,435 +28.8%
X X X X X X X
X April YoY
% Change
May YoY
% Change
June YoY
% Change
2008 38,462 -37.8% 29,500 -17.7% 32,977 -19.4%
2009 36,646 -4.7% 28,137 -4.6% 27,222 -17.5%
2010 36,151 -1.4% 33,977 +20.8% 30,004 +10.2%
2011 44,343 +22.7% 35,171 +3.5% 33,198 +10.7%
2012
50,166 +13.1% 41,113 +16.9% 38,941 +17.3%

X X X X X X
X July YoY
% Change
August YoY
% Change
September YoY
% Change
2008 32,317 -27.8% 32,409 -18.3% 9,389 -69.5%
2009 32,709 +1.2% 34,776 +7.3% 19,393 +106.6%
2010 32,481 -0.7% 35,170 +1.1% 26,438 +36.3%
2011 34,277 +5.5% 32,210 -8.4% 15,610 -41.0%
2012
0 +13.1% $2,018,138 +11.1% X X

X X X X X X
X October YoY
% Change
November YoY
% Change
December YoY
% Change
2008 0 -100.0% 32,382 +22.3% 37,891 -6.3%
2009 21,422 +50.0% 30,402 -6.1% 40,518 +6.9%
2010 32,121 +49.9% 33,933 +11.6% 44,592 +10.1%
2011 35,041 +9.1% 45,136 +33.0% 54,347 +21.9%


Yearly Cruise Ship Data: Latest Update: 13 August 2012

Galveston Cruise Ship Passengers Yearly
Source: Port of Galveston

The number of cruise ship passengers peaked in 2006 at 616,939. They declined from there, and then collapsed in 2008, due to Hurricane Ike, but have rebounded to 459,448 in 2011. 


Galveston Cruise Ship Vehicles Parked Yearly
Source: Port of Galveston

The number of cruise ship vehicles parked peaked in 2006 at 78,905. They declined from there, and then collapsed in 2008, due to Hurricane Ike, but have rebounded to 59,466 in 2011.

Galveston Cruise Ship Calls Yearly
Source: Port of Galveston

The number of cruise ship calls peaked in 2006 at 253. They declined from there, and then collapsed in 2008, due to Hurricane Ike, but have rebounded to 152 in January 2011.


Yearly Cruise Ship Passengers

Year Cruise Ship
Passengers
YoY
% Change
2000 33,937 +3.2%
2001 148,701 +338.2%
2002 266,830 +79.4%
2003 373,345 +39.9%
2004 434,855 +16.5%
2005 532,241 +22.4%
2006 616,939 +15.9%
2007 523,303 -15.2%
2008 376,815 -28.0%
2009 394,640 +4.7%
2010 434,524 +10.1%
2011 459,448 +5.7%


Learn Purchase Real Estate for Cents on the Dollar!


Quarterly Mixed Beverage Tax Data: Latest Update: 16 June 2013

Mixed Beverage tax collections are a good proxy for overall bar and club sales.

Mixed Beverage tax collections reached a low of $67,054 in 1Q 2009 (sales from October, November, and December 2008) immediately after Hurricane Ike.

The chart shows the increase in the mixed beverage tax collections from $89,852 in 2Q 2012 to $102,364 in 2Q 2013 (see data points circled in yellow)!

2Q 2013 mixed beverage tax collections of $102,364 are 3.3% below the 2Q 2008 sales tax collections of $105,870; the best 2Q on record.

Collections for a given quarter are posted in:

January
 1Q
(sales from October, November, December)


April
2Q

(sales from January, February, March)


July
3Q

(sales from April, May, June)


October
4Q

(sales from July, August, September)


and represent sales for the 3 months prior to that date.



The year-over-year rate of change in mixed-beverage tax collections spiked lower in 1Q 2009 in the aftermath of Hurricane Ike, and then surged in 1Q 2010, because 1Q 2009 was such a low baseline.

Mixed Beverage tax collections in 2Q 2013 were 13.9% higher than 2Q 2012.

Quarterly Mixed Beverage Tax
X January
1Q
YoY
% Change
April
2Q
YoY
 % Change
July
3Q
YoY
% Change
October
4Q
YoY
% Change
2007 $99,170 +11.4% $99,787 -1.9% $116,711 +3.4% $141,532 +9.0%
2008 $114,075 +15.0% $105,870 +6.0% $128,095 +9.8% $134,415 -5.0%
2009 $67,054 -41.2% $80,066 -24.4% $130,793 +2.1% $134,198 -0.2%
2010 $95,275 +42.1% $90,115 +12.6% $118,609 -9.3% $148,994 +11.0%
2011 $106,576 +11.9% $98,359 +9.2% $148,988 +25.6% $132,435 -11.1%
2012 $97,550 -8.5% $89,852 -8.7% $128,948 -13.5% $153,552 +16.0%
2013 $110,049 +12.8% $102,364 +13.9%
 

Yearly Mixed Beverage Tax Data: Latest Update: 16 June 2013

Mixed Beverage tax collections are a good proxy for overall bar and club sales.

2012 mixed beverage tax collections did not exceed the all-time high set in 2011.



After 13 straight years of positive gains, 2009 plunged -14.6% in the aftermath of Hurricane Ike, but 2010 and 2011 showed growth, even as 2012 was down 3.4%!

Yearly Mixed Beverage Tax

Year Mixed Beverage Tax YoY
% Change
1991 $218,726 d
1992 $204,379 -6.6%
1993 $196,941 -3.6%
1994 $216,740 +10.0%
1995 $194,851 -10.1%
1996 $200,982 +3.2%
1997 $218,989 +9.0%
1998 $233,779 +6.8%
1999 $258,050 +10.4%
2000 $284,784 +10.4%
2001 $299,411 +5.1%
2002 $311,835 +4.2%
2003 $323,595 +3.8%
2004 $362,078 +11.9%
2005 $380,831 +5.2%
2006 $433,689 +13.9%
2007 $457,291 +5.4%
2008 $482,455 +5.5%
2009 $412,111 -14.6%
2010 $452,993 +9.9%
2011 $486,358 +7.4%
2012 $469,902 -3.4%








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