Tourism IS Economic Development!
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Transcript of Tourism IS Economic Development!
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Tourism ISEconomic Development!
Presented by Judy Hare WinslowDirector of Tourism,
Smithfield & Isle of Wight Convention & Visitors Bureau
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Travel Powers Virginia(Includes both domestic and international travel impact)
Virginia: Travel Spending ($ Millions)
Virginia: Travel Tax Receipts ($ Millions)
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Travel Powers Virginia(Includes both domestic and international travel impact)
Virginia: Travel Employment (Thousands)
Virginia: Travel Payroll ($ Millions)
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Tourism = NEW MONEY!
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Something to see and/or experience Somewhere to eat Somewhere to
stay Something to buy
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The whole COMMUNITY must be developed as a tourist attraction.Understanding the MARKET and its
potential is critical to TOURISM development. The most likely PROSPECTS for
enterprise development are at the LOCAL LEVEL.
ENTREPRENEURS become true prospects
when INVESTORS &DEVELOPERS are added.
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First time entrepreneurs and those opening
new markets are high-risk PROSPECTS. NETWORKING with business suppliers
and allies outside the community is smart. NOT-FOR-PROFIT enterprises or
attractions can be prospects just like any other. PUBLIC/PRIVATE PARTNERSHIPS put communities into PROSPECT DEVELOPMENT.
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Successful marketing campaigns build upon themselves year after year. An investment in your tourism marketing arm with dedicated funding is an investment in your own future- Remember the ROI!
Make sure you have a Chief Marketing Officerto achieve the greatest results and align dollars to support individual marketing initiatives. “Brand” everything you do consistently.
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Develop a localTOURISM DEVELOPMENT GRANT PROGRAM. To create the complete tourism experience, maximize visitation and average length of stays,product development is essential!
SUPPORT new tax law legislation to “fix” the On-line Travel Companies siphoning of state and local taxes. DO NOT SUPPORT the OTC’s Federal preemption legislation that would prevent taxing authorities’ ability to collect taxes from these companies
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Direct Hotel Booking
Third Party IntermediaryWholesale Booking
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Tourism ISEconomic
Development!
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Tourism isBIG BUSINESS…
& Small Business!
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Tourism creates animmediate & proven
RETURN ONINVESTMENT
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Tourism can playa leading role in
Economic Recoverymore quickly thanany other industry.
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Tourism = NEW MONEY!
Tourism product development is setting up and getting ready to ring a cash register
with new dollars brought into a community by visitors.
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In order to be successful in the tourism “business” you must provide visitors:
Something to see and/or experience Somewhere to eat Somewhere to stay Something to buy
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Key Recommendations Find your tourism niche and have a dedicated staff person or department Dedicated Funding for Tourism
Develop a Tourism Grant Program Be aware of the OTC tax issue and
participate in preserving YOUR tax revenue!
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Tourism ISEconomic Development!
Presented by Judy Hare WinslowDirector of Tourism,
Smithfield & Isle of Wight Convention & Visitors Bureau