New Port of San Diego Economic Impact Report Shows 41% Growth

Nearly $14 Billion Generated for Local Economy in FY2023

The Port of San Diego remains a strong economic driver for the region, according to the latest economic impact report that details and analyzes the Port's economic activity.

In fiscal year 2023 (July 1, 2022 to June 30, 2023), the Port's overall economic impact on the San Diego County region was $13.8 billion, a 41 percent increase from 2019.* The Port's job growth was also strong with a 10 percent increase from 2019 to more than 71,000 total jobs supported. Through a multiplier effect, approximately one in 30 San Diego County jobs were generated by the Port, and every direct Port job supported six more jobs in other industries throughout the county, state, and the U.S.

"The study's findings underscore the Port's resilience through the pandemic and our incredible recovery in the face of global supply chain issues, inflation, and other economic challenges," stated Chair Danielle Moore, Port of San Diego Board of Port Commissioners. "We are a public agency that doesn't collect taxes. That means that our diverse maritime and real estate portfolio, along with smart investments, are crucial to our ability to be a major player and job creator in our region's economy, while also supporting public recreation, safeguarding public and environmental health, and delivering a range of community benefits for all who visit and live on and around San Diego Bay."

Cambridge Systematics prepared the Fiscal Year 2023 Economic Impact Report, which examines the economic activity that is directly attributable to the Port and its four sectors of interest - the tourism and commercial industry, industrial and wholesale industry, maritime trade and cargo handling, and the cruise industry.

Additional findings of the Fiscal Year 2023 Economic Impact Report include:

• Visitors to hotels along the Port's San Diego Bay waterfront spent $2.6 billion in FY2023.
• Direct spending by the cruise industry in FY2023 totaled over $104 million.
• More than 2.4 million tons of cargo were shipped through the Port of San Diego in FY2023.
• Between FY2021 and FY2023, the total tons of cargo shipped through the Port increased by 12 percent.

View the complete FY2023 Economic Impact Report at portofsandiego.org/economicimpact.

*For comparison purposes, the numbers are adjusted for inflation and are in 2021 dollars.