Paul Nitswicky, CEO of the Cape Cod Chamber of Commerce, told the board on July 23 that the Cape’s economy remains dominated by travel and tourism but is evolving in ways that could affect municipalities and regional planning.
"The Cape is still primarily travel and tourism economy," Nitswicky said, and he cited 2023 visitor spending of about $2.7 billion, more than 14,000 jobs directly supported and nearly a quarter‑billion dollars in tax revenue.
Nitswicky highlighted several trends: a rapid expansion of short‑term rentals (he said there are about 19,000 registered short‑term rental units, roughly half the state total), shrinking booking windows and shorter stays, and a shift of some visitor demand toward the Upper and Mid Cape. He said short‑term rentals are increasingly competing with traditional lodging and noted the loss of a large meeting venue in Hyannis when part of the Emerald Conference Center property was sold for housing.
On workforce, he said the J‑1 seasonal worker program had rebounded to around 5,000 participants and that H‑2B numbers had not yet materially affected Cape operations this year, while cautioning that federal interview and visa processing changes could reduce those programs’ availability next year.
Nitswicky also warned of mounting homeowners‑insurance pressures and described a regional conversation about a possible catastrophic event fund or other mechanisms to preserve insurance availability and manage long‑term coastal risk. He said Barnstable County ranks high nationally for counties at risk of losing homeowners insurance, and he described the chamber’s intention to take a high‑profile role on the issue.
He briefed commissioners on the Chamber’s organizational changes and projects including a merger with the Falmouth Chamber and stewardship of the Cape Cod Climate Collaborative, and he described the Cape and Islands Business Bridge Coalition the chamber has formed to help steward the Sagamore Bridge replacement project.
Nitswicky urged county and municipal leaders to plan for shifting revenue and service needs and to engage on shared infrastructure and resiliency work; he said hard, localized economic data for the current season would arrive in October.