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Economic Contribution

Methods of understanding the economic contribution of tourism occur in many forms, from robust economic modelling to estimates of visitor expenditure. While data availability, resolution and reliability will differ in each destination, below are some suggested methods to measure the economic contribution of tourism. Read more
Methods of understanding the economic contribution of tourism occur in many forms, from robust economic modelling to estimates of visitor expenditure. While data availability, resolution and reliability will differ in each destination, below are some suggested methods to measure the economic contribution of tourism.

 

  • Measuring the contribution of ‘tourism’ as an industry within existing economic models of contribution to Gross Domestic Product (GDP) through the creation of Satellite Accounts where the tourism inputs are defined.

    Destination Management Tip

    Finding the best methods to measure the economic contribution of tourism in your destination should be based on the availability and reliability of the data. Inaccurate data creates unreliable forecasts.

     
  • The Sustainable Tourism Cooperative Research Centre (STCRC), through its Prosper research program found that these modelling approaches use either input / output or Computable General Equilibrium (CGE) modelling tools are less accurate in regional areas and can be supplemented by:
      • Primary data collection on visitor expenditure and flow-on effects
      • Cost-benefit analysis of individual tourism projects; and
      • Dedicated multiplier analysis to measure flow-on impacts.
  • While less statistically reliable, many destinations use national estimates of expenditure and job creation and apply them to estimated local visitation.

      A STCRC report, developed in conjunction with the Centre for Regional Tourism Research provides a summary and analysis of the key types of economic impact studies and their applicability and relevance for different tourism regions. The report, A Guide to Assessing the Economic Value of Tourism in Regions identifies the recommended use of each model and the information requirements to undertake the study.

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