Rhode Island Tourism Strength at a Difficult Time：羅得島旅游的力量在困難的時候

1、Rhode Island Tourism: Strength In A Difficult Time 2007 Tourism Satellite AccountKenneth McGillExecutive Managing DirectorTravel & Tourism ConsultingQuick Introduction to Global InsightWhat is Tourism Satellite Accounting?2007 Rhode Island Tourism ResultsWhat Do Visitors Mean to RI?AgendaHow Importa

2、nt is Tourism to Rhode Island?About Global Insight:Premier economic analysis and consulting organizationFormed in 2001 by combining WEFA and DRI Provides the most comprehensive coverage of countries, regions and industries available from any single source Brings a common analytical framework and a c

3、onsistent set of assumptions to diverse capabilities and productsMost consistently accurate commercial forecaster /accoladesProvides a broad range of consulting capabilities covering:Strong reputation and experience within the travel & tourism sectorMarket AnalysisBusiness PlanningInvestment Strateg

4、yRisk AssessmentInfrastructure AnalysisPolicy EvaluationEconomic DevelopmentEconomic ImpactGlobal Insights Value PropositionWhat does the economy mean to your organization?. Clients are varied and can view our capabilities both horizontally and vertically Internally, we are organized around markets

5、or, where appropriate, around content Each market-defined business unit leverages the data repository, modeling assets, and cross-functional expertise of the other business unitsGlobal Insight by the numbersOver 4,000 clients worldwide 2,800+ -Corporate, Financial, and Commercial 37 -US States, 118

6、-Cities/Local Govt, 70 Federal Government agencies 35 Foreign Central Banks, 23 International Statistical agencies, plus IMF, World Bank, IADB, EC, OECD, UN, SABIC, CEIC 100+ Trade, Professional, Non-profit OrganizationsGlobal Insights 2006 Turnover was $97million (65% N.A., 35% Intnl) with an opera

7、ting margin of just over 9%We have 640 employees housed in 25 offices in 14 countriesGlobal Insight is over 40 years young Travel and Tourism PracticeVisitation & Spending Forecasts by category and by country, region, state, or U.S. city. Market size, growth, and share.Market Feasibility & Investmen

8、t Facilitation market analysis & research, demand/supply review, policy evaluation, development cost analysis.Destination Impact & Concession Support economic impact of the construction and operations of individual facilities resort, convention center, entertainment venue, eventTourism Economic Impa

9、ct & Tourism Satellite Accounting conforming to the UN/WTO standards. What does travel & tourism contribute in jobs, wages, spending, and taxes to a national or local economy?Tourism Policy Analysis travel & tourism policy evaluation and rationalization.Quick Introduction to Global InsightWhat is To

10、urism Satellite Accounting?2007 Rhode Island Tourism ResultsWhat Do Visitors Mean to RI?AgendaHow Important is Tourism to Rhode Island?TSA | Transportation Security Administration | US Department of .Tourette Syndrome Association TSA Home PageTexas Society of AnesthesiologistsTurtle Survival Allianc

11、eColumbia University - Turkish Student AssociationTSA : Telecommunication Society Of AustraliaTrust for the Study of AdolescenceTarheel Swimming AssociationThe Thinking Skills Assessment Home PageTSA - the snowboard asylum online, uk snowboard shops full of .Toronto School of ArtWhat is a Tourism Sa

12、tellite Account (TSA)?Tourism Satellite AccountingThe Tourism Satellite Account is the international (UN/WTO, OECD) standard for measuring the contribution of tourism to an economyMeasuring the industry “tourism” is difficult:tourism is not measured in standard economic accounting terms.Most industr

13、ies are accounted via the supply-side: firms are categorized into NAICS codes and asked about jobs, revenues, costs.But tourism is a demand-side activity: the focus is on what the traveler buys before and during a trip( hotel, food, transpo, retail). As a result, tourism touches many industries4Cs:

14、Credibility, Comprehensiveness, Comparability, Consistency9The Distinct Value of the TSACredibilityThe TSA is the product of over 10yrs of committees, conferences, papers and expert opinions.It defines tourism in measurements consistent with System of National Accounts (SNA) economic accounts.It has

15、 been ratified by the UN, OECD and Eurostat.ComprehensivenessTSA includes a wider view of tourism demand to include second home activity, capital investment, outbound resident purchases, and government spending -not just visitor spending.TSA explicitly counts employment, sales, and GDP and allows (i

16、mplicitly) for measurement of wages and taxes.System also provides a framework for indirect impact analysis.The Distinct Value of the TSAComparabilityOnly the TSA provides measurements of tourism that are designed to be consistent with SNA.This facilitates inter-industry comparisonsFacilitates inter

17、-country/sub-national comparisonsEnables share analysis (tourism is x% of GSP, wages, jobs)ConsistencyMeasuring tourism using the same data sources and methodology year in and year out facilitates the analysis of tourism growth, promotional and public investment ROI, and economic development compari

18、sonsChanging research vendors or personnel should not result in a re-startBenefits of a TSA12Are we spending enough on tourism promotion and infrastructure? Compares government support of the tourism sector with government revenue generated by tourism.Which are our best economic development targets

19、and are any candidate-requested concessions worth it? Allows policy-makers to compare the size & growth of tourism to other industrial sectors.What is the ROI of public tourism investment? Enables analysts to assess long-term health of the tourism sector vis-a-vis capital investment and govt. suppor

20、t.How can we benchmark ourselves against our destination competition? Provides an accepted international standard for benchmarking.How can we communicate the full value of tourism to policy makers, businesses, and citizens? Quantifies the value of visitors to Rhode Island.Copyright 2007 Global Insig

21、ht, IncTSA and Tourism Economic Impact Client ExamplesTourism Satellite AccountRHODE ISLANDIsraelNew JerseyDubaiBahamasAbu DhabiKansasNorth DakotaGuamNorth CarolinaAlaskaSouth CarolinaDelawareVirginiaUtahHawaiiMarylandEconomic ImpactIdahoPennsylvaniaIndianaCity Tourism ImpactDallasBostonArlington, T

22、XSacramentoBaltimorePhiladelphiaOrlandoWashington, DCNYCCamden & SNJOmahaTulsaSt. LouisKansas CityBattle Creek, MIDurham, NCSavannahPittsburghAustinIndianapolisRichmondTSA: Key Terms and DefinitionsVisitor: GT 50 miles, non-commuting or overnight staysResident Tourism: Only outbound purchases made i

23、n advance of a trip are included. No resident usage of RI tourism assets.Total Expenditures: Includes visitor spending plus value of tourism investment and construction.Tourism Spending: A TSA concept, includes all spending by all constituents on travel made in the jurisdiction (RI)Visitor Spending:

24、 Spending in the jurisdiction by visitors (accommodations, food & beverage, shopping, transportation, entertainment, other)Total Economic Impact: “GDP” definitionspending less value of supply chain purchases made elsewhere. The amount truly retained in jurisdiction.Import Leakages: The value of supp

25、ly chain purchases made outside of the jurisdiction.Direct Spending/Jobs/Wages/Taxes: Industries that “touch” the visitor (e.g. hotels, restaurants, museums,)Indirect Spending/Jobs/Wages/Taxes: Industries that supply those that touch the visitorInduced Spending/Jobs/Wages/Taxes: Workers of industrie

26、s that touch or supply will spend wages locallyTravel & Tourism EconomyT&T Industry and EconomyThe TSA provides both a narrow & a broad understanding of the Tourism “Industry”Travel & Tourism EconomyThe flow-through effect of travel demand across the economyTravel & Tourism IndustryThe direct effect

27、 of travel demandQuick Introduction to Global InsightWhat is Tourism Satellite Accounting?2007 Rhode Island Tourism ResultsState AnalysisRegional ComparisonsAgendaHow Important is Tourism to Rhode Island?2007 Rhode Island Tourism ResultsRhode Island Tourism Economic Impact - DefinitionsTSA: Results

28、(spending, economic impact, jobs,) conform strictly to the TSA definition (e.g. 50mile+overnight visitor definition).TSA + Under 50 Mile: TSA results, plus those coming from visitors traveling less than the 50 mile threshold. This classification is both historically consistent with previous studies

29、and arguably more applicable to Rhode Island.Total Impact: Total economic contribution of tourism to Rhode Island. Sum of core and non-core.Core Impact: Economic contribution of from industries directly providing goods and services to the visitor.Non-core Impact: Economic contribution from industrie

30、s providing goods and services to core tourism providers. Also includes tourism investment.ApproachImpact SourcesSources of Tourism ExpendituresVisitor Spending Expenditures by visitors who have come from greater than 50 miles or stayed overnightBusiness Travel Businesses spending within the state e

31、conomy on travelResident Outbound Resident spending preparing for an out-of-state tripGovernment Spending Tourism Office Budgets, transportation functions related to tourism, publicly funded attractions and funding for security in tourism-intensive areasInvestment Construction of hotels, attractions

32、, tourism infrastructure, operating and transportation equipment International Spending of international visitors within the state Under 50Mile Visitors Spending by residents or non-residents who have come from under 50 miles. No commuters or local utilization. Not included in TSA definition.State O

33、verview: 2007 Totals At A GlanceSource: Global InsightEmployment figures taken from a top down review of the total spending, creating a resultant number of jobs, both full-time and part-time required to support that spending.Tourism ConceptTSATSA + Under 50 Mile VisitorsDifferenceVisits7.87 M17.73 M

34、9.86 M Expenditure$4.24 B$6.81 B $2.57 BEconomic Impact (GSP)$2.63 B$3.66 B $1,036 MJobs52,42080,526 28,107Wages$1.63 B$2.33 B$702 MTaxes$929.8 M$1,429 M$499.2 MIndustry Structure: DefinitionsSource: Global InsightCopyright 2007 Global Insight, Inc.21$6.81 billion$4.24 billion$2.63 billion$1.62 bill

35、ion$1.87 billion$756 millionState Overview: Tourism and Under 50Mile VisitorsMeasurement20072006DefinitionTourism (TSA) + Under 50Mile Visitor Spending$6.81 B$6.21 B Spending from all tourism factors Tourism (TSA)$4.24 B$3.88 B TSA Definition of State Tourism Under 50Mile Visitors$2.57 B$2.32 B Spen

36、ding by visitors from less than 50 miles that utilize RI tourism assetsTourism + Under 50Mile Visitors Core Employment*65,87764,121 Employment required to support core RI tourism activity Core Tourism (TSA) Employment*40,63540,297 TSA Definition of Tourism “Industry”Source: Global InsightEmployment

37、figures taken from a top down review of the total spending, creating a resultant number of jobs, both full-time and part-time required to support that spending.Key Measurements2006OriginalTSA2006RecastTSA RI Expenditures ($B)$3.69$3.88 Economic Value Core Tourism Total Impact$1.80$2.37$1.71$2.26 Wag

38、es & Salaries Core Tourism Total Impact$1.03$1.38$1.08$1.45 Employment (000) Core Tourism Total Impact38.9647.8540.3049.33 Taxes Total Impact$856 B$894 MWhy Are the Results Revised From Last Year? Source: Global InsightEach year revisions to most of the historical tourism metrics must be made in ord

39、er to reflect: Finalization of the annual visitor spending data from DKSA. This data was preliminary when the RI TSA was developed last year.Revisions to the BLS and BEA inputs covering employment, Gross State Product, Sales Output, and Payroll. Revisions to the IMPLAN interindustry model provided b

40、y MIG (Minnesota IMPLAN Group)Category Distribution of ExpendituresThe TSA category changes shown below, where strength in Accomodations and Transportation is coming at the expense of Food and Shopping, is something seen in many other markets as well. TSA + 50Mile Million $TSA Million $2006-2007 Gro

41、wth (TSA)Entertainment*1,2138187.9%Accommodation7397394.6%Transportation8468155.2%Food1,5987731.9%Shopping1,062470-11.0%Total *5,5723,6152.5%* Direct and Indirect Tourism Expenditures (w/o construction & investment)Source: Global Insight* Entertainment category includes all marina and boating activi

42、tyTSA + 50Mile Shares2007 Rhode Island TourismRegional AnalysisRegional Distribution of TourismBlackstone ValleyBurrillvilleCentral FallsCumberlandGlocesterLincolnNorth SmithfieldPawtucketSmithfieldWoonsocketProvidence ProvidenceWarwick WarwickBlock IslandBlock IslandBalance of StateCranstonFosterJo

43、hnstonNorth ProvidenceScituateWest WarwickRhode Island is divided into eight regions in the analysis:Newport County Little ComptonMiddletownNewportPortsmouthTivertonJamestownSouth County CharlestownCoventryEast GreenwichExeterHopkintonNarragansettNorth KingstownRichmondSouth KingstownWesterlyWest Gr

44、eenwichEast BayBarringtonBristolEast ProvidenceWarrenRegional Distribution of Tourism (TSA) Plus Under 50mile Visitors$(000)AccomodationsEntertainmentFood RetailTransportationGrand TotalShare of State2007$24,029 $459,786 $255,356 $69,106 $85,802 $894,079 16.0%2006$21,917 $405,244 $240,119 $67,639 $8

45、0,013 $814,932 15.4%2005$20,021 $393,514 $235,046 $63,656 $65,988 $778,224 15.6%Blackstone ValleyRegional Distribution of Tourism (TSA)$(000)AccomodationsEntertainmentFood RetailTransportationGrand TotalShare of State2007$24,029 $193,863 $115,119 $31,009 $83,986 $448,006 12.4%2006$21,917 $172,870 $111,440 $34,326 $79,097 $419,649 11.9%2005$20,021 $167,453 $106,653 $36,124 $65,826 $396,077 11.9%Blackstone ValleyRegional Share of Statewide Tourism (TSA) Plus Under 50mile VisitorsRegional Share of State Expenditures by CategoryAccomo