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Benefits of Tourism
The tourism dollar can deeply permeate a local economy. Because tourism is a labour-intensive industry, and because most of the participants are micro to small business operators, the effect is felt quickly and directly through local spending. For those communities that do have the potential to become a successful tourism destination, and are willing to commit to its ongoing development, the benefits are more than just economic.Read about some of the obvious and not so obvious benefits to be derived from a vibrant tourism industry.
Measuring tourism’s impact on your community
Tourism makes an important and sizeable contribution to Victoria’s economy. Tourism is really part of everybody’s business, which is why it is such an important industry for Victoria.
In 2011-12 tourism was worth $19.1 billion (5.8% of Victoria’s Gross State Product), employing 7.1% of working Victorians. Approximately 65 per cent of Victoria’s tourism expenditure growth to June 2020-21 is forecast to come from international markets.
Click here for more information on visitor expenditure, tourism employment and tourism businesses.
Until recently, measuring the effect of tourism activity on a town or region was restricted to anecdotal evidence and crude statistical analysis. A range of tools is now available that puts some rigour into the exercise. These include the Commonwealth Government’s Tourism Impact Model (T.I.M.).
Wherever you’re located in Victoria – or Australia for that matter – the Visiting Friends and Relatives (VFR) market is now recognised as being very significant to local economies. Click here to access a tool kit prepared by Destination Melbourne Ltd to help councils and tourism organisations better understand and to harness the power of VFR.
Last Updated 9th August 2014