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Latest National and International Visitor Survey data recently released shows total tourism spend in Victoria has hit a record $37.8 billion, 117% of total spend by visitors at the same time in 2019 ($32.5 billion). According to recent data supplied by Tourism Research Australia, Victoria's visitor economy can grow a further $16 billion to $53 billion by 2028. As highlighted by Victoria Tourism Industry Council (VTIC) CEO Felicia Mariani (GAICD) 'Victoria's current performance is remarkable when you consider that, in March 2021, our total tourism spend fell to our lowest point of $9.8 billion, from a record high of $32.5 billion at the same time in 2020. Let's celebrate our success that in the year to March 2023, Victoria's visitor economy more than doubled in value from the same time in 2022, but we must not take our eyes off the $16 billion prize available to us'. DGV Executive Officer, Vicki Scott, acknowledges these figures are to be celebrated, however there is no time for complacency when driving and growing the visitor economy in Victoria. 'With the State's next two years projected to be very lean, we are supportive of VTIC's budget submission. Their 2024/25 Victorian State Budget Submission is focused on growth opportunities and has been informed by a six month engagement process with over 100 industry members informing their submission'. DGV will continue to support and work alongside VTIC to build the visitor economy for our State and advocate on behalf of our partners and stakeholders. Click the below link for a copy of VTIC's budget submission: https://lnkd.in/gc496X9b

💷 Tourism spending trends across Devon and Somerset 💷 Latest data from the South West Visitor Economy Hub shows Somerset’s tourism spending increased by 4.9% in October 2024, while short-term rentals in Devon generated £42 million in direct revenue during the month. This insight is just one example of the valuable data available inside the Hub, helping businesses benchmark their performance, understand market trends, and plan for future success. The Hub is packed with rich data to help businesses compare their performance, benchmark against competitors, and evaluate the success of their marketing strategies. 📋 Tourism and hospitality businesses can sign up to the Hub for free, in return for uploading a small amount of data each month which always stays confidential inside the Hub. Sign up at https://buff.ly/4iQFBKy. 💼 Not in the tourism sector? Pay to access the Hub – find out more at https://buff.ly/4iQFBKy. 🖱️ You can also get a comprehensive round-up of monthly data and insights in our edited and highly valuable Tourism Trends Reports. Download the latest reports at https://buff.ly/400FkgM.

🚨Survey Deadline Extended🚨 Ontario’s last Tourism Strategy was developed in 2016, and it’s time for an update! This time, Tourism Industry Association of Ontario is proud to be leading the charge - creating of a new, industry-led and market-driven strategy to drive growth in our sector. We're calling on business operators, regional organizations like RTOs and DMOs, sector organizations, suppliers, investors, governments, and educational institutions to participate in this important process. Your voice is crucial to ensure that Ontario’s tourism industry not only recovers but that it thrives and aggressively competes in the global market. To give everyone ample time, we have extended the survey deadline to November 1, 2024. Your insights are crucial for shaping the future of Ontario's tourism sector. Please take a moment to complete the survey at the link below; https://lnkd.in/eRRtkyRS

Destination Canada’s Tourism Data Collective is an absolutely essential tool for everyone in our tourism industry and broader economic development sectors to understand. This new tool, launched earlier this summer, provides a new level of current data across a broad number of categories and includes real historical data, comparisons and tourism outlook and intentions among others. Good data helps make better decisions using facts, not feelings. Good data has also been historically challenging for small tourism businesses and DMOs to access or afford. When we’re advocating for public and private investment and support into tourism, good data is important to make the case. Let’s face it, tourism isn’t always understood or respected as an economic and social contributor to our communities and regions. I’ve been using this data tool and it’s enlightening. For example I’m a big advocate for the importance of culinary in the overall tourism economy. In the first quarter of 2024, Visitors in Canada spent $3.1 billion on food and beverage services. That is almost as much as the $3.3 billion spent on accommodations. Tourism also puts people to work. In June of 2024, two million people were employed in the sector across Canada. The point is, tourism is big business that supports small business. I encourage all of our tourism partners to get to know the Canadian Tourism Data Collective by visitin https://lnkd.in/e8tqG_GR and signing up.

I've always loved looking back over the course of any given year and reflecting on flashes of inspiration. They're moments in time that feel like turning points in my professional life. I'm lucky enough to have had a couple of those points this year. One of them came at the Australian Regional Tourism Conference a couple months back thanks to Dave Hockly. His session about the work Destination Queenstown are doing to transform the impact of tourism was a clear high point of that gathering. Dave framed the session by asking the question "What if visitors left your destination better than they found it?" Queenstown, like many popular destinations from Barcelona to Daylesford, has reached a tipping point. Tourism is overwhelming local life. To address this issue, Destination Queenstown is asking a big question: How do we redefine the tourism exchange so that visitors leave Queenstown better than they found it? In a sector that is often dominated by self-assured statements about visitor expenditure targets and marketing spends, Dave admitted often during the presentation that he and his team didn't have all the answers, and I found that inspiring. He and the team at Destination Queenstown are embracing the uncertainty, working collaboratively to figure it out as they go. At times that ability to sit in the grey can feel like a rare trait in our industry, and Dave has it in spades. This brave approach - admitting there's no clear solution, but committing to find one anyway - is exactly the kind of leadership our industry needs. Dave and Destination Queenstown recognise that global change is necessary, and they're doing their part to contribute. It's inspiring to see a destination getting comfortable with uncertatinty in that conversation. I see place-based thinking being a critical part in forging that way forward. Place identity and branding work is about better understanding the places in which we live. Uncovering what it is about those places that has the power to bind and unite, and then using that to shape them in a more considered thoughtful way. Destination Queenstown are doing just that when it comes to tourism, and in turn are providing our industry with an invaluable set of lessons along the way. Thanks for one of the year's great lightbulb moments Dave. Can't wait to watch on from this side of the ditch to see what unfolds in the years ahead.

External Factors Affecting the Tourism Industry The tourism industry is shaped by various external factors that play a significant role in its success and growth. Key factors affecting tourism include: Economic Conditions: Fluctuations in global and local economies influence travel patterns, spending power, and overall demand in tourism. Regulatory Changes: Government policies, visa regulations, and safety protocols impact tourism flow and destination accessibility. Technological Advancements: Innovations in travel booking, digital marketing, and smart tourism solutions have transformed how tourists engage with destinations. https://lnkd.in/dbRbwRAX Adapting to these external tourism factors is crucial for businesses to thrive in an ever-changing landscape. #TourismIndustry #EconomicImpact #TechnologicalAdvancements #TourismTrends

We must triangulate data from industry bodies, international organisations to truly understand dynamics of tourism and hospitality: Suman Billa Speaking about the significance of research and data in the tourism industry, Suman Billa IAS, IAS, Additional Secretary, Ministry of Tourism said, "Being in the sector which is vast and multifaceted, it is essential to have accurate and comprehensive data to inform our decisions. While government data provides a solid foundation, it often captures only one facet of the entire landscape. To truly understand the dynamics of the tourism and hospitality sectors, we must triangulate this data with insights from industry bodies, international organisations like the WTO, and other reliable sources."

COVID 19 has taught us that tourism products need to be diversified. Its no longer possible to rely on one segment of tourist, such as international tourists, to have a successful business and to grow the offerings of a product. To grow a products market share, its best to look at various options to grow your market segment to include a variety of travelers – independent travelers, groups, families, formal tours, etc. having a versatile product offering and being able to adapt the product t guests needs is key. Its ideal to have a mix of both local and international tourists but to also market your product to various markets both national and international. A sound business platform and marketing strategy is key to ensuring product offering appeals to a wide variety of tourists.

LinkedIn Post Content: External Factors Affecting the Tourism Industry 🌍 Navigating External Challenges in Tourism The tourism industry thrives on exploration, experiences, and cultural exchange. Yet, it is profoundly influenced by external factors that shape its trajectory. Here are some key considerations: 1️⃣ Economic Factors: Currency fluctuations and economic recessions can impact travel affordability and demand. 2️⃣ Political Stability: Safety concerns and government policies play a vital role in travelers' decisions. 3️⃣ Environmental Concerns: Natural disasters, climate change, and sustainable practices influence travel destinations. 4️⃣ Technological Advancements: Tech-driven changes in booking platforms and digital trends are reshaping travel experiences. 5️⃣ Cultural Shifts: Changing consumer preferences toward eco-tourism and local experiences are redefining the industry. 🌟 Adapting to these dynamics is essential for building a resilient and thriving tourism sector. What strategies do you think can address these challenges? Share your thoughts below! https://lnkd.in/dbRbwRAX #TourismIndustry #Travel #EconomicFactors #Sustainability #InnovationInTourism

Global Markets Report Tourism Gains in Q4, Q1