(COLORADO) — Sports, recreation, and tourism create just over $60 billion annually, according to the Common Sense Institute (CSI).

CSI released “The Economic Impact of Colorado’s Sports, Recreation & Tourism Sector,” on Wednesday, May 10. The analysis shows the industry supports more than 600,000 jobs and 13.7% of Colorado’s Gross Domestic Product.

“Tourism generates economic impact, creates jobs, and brings visitors who pay taxes that otherwise would be the burden of Colorado residents,” said Richard Scharf, VISIT DENVER President and CEO.

CSI also shows the growth of the sports, recreation, and tourism sector will grow 22% faster than the state’s overall economy.

“The revenue created by tourists supports a wide array of Colorado’s economy and plays an indispensable role in driving economic prosperity,” said Kelly Caufield, CSI Executive Director.