Tourism & Economic Impact Template



Tourism & Economic Impact Template

TOURISM and ECONOMIC IMPACT – Template

Purpose of this document

To provide members of MACVB a template to demonstrate the economic impact of tourism and destination marketing to your stakeholders (Board of Directors, City, County, stakeholders, etc.).  Information contained in this document is recommendations and should be tailored to your individual community, destination and organizational needs.

TITLE

Tourism, Jobs and Economic Impact for (Your Community)

The (community) Hospitality Industry and The Economy

Why Tourism Is Important

What Happens When Visitors Come to Town

Tourism = Employment and Economic Vitality

WHY IS TOURISM IMPORTANT

MINNESOTA STATE TOURISM GENERATES

$x million/billion a year, of $xx million per day in tourism related economic impact.

X full and part-time jobs of xx% of Minnesota’s private sector employment.

$ million/billion in salaries and wages that are largely spent in the community.

$x million or x% of all state sales tax revenues.

(METRO/SOUTHERN/NORTHERN TOURISM) GENERATES

$x million/billion a year

$x million in sales taxes

X full and part-time jobs

(X) COUNTY TOURISM GENERATES

X million/billion a year in

$x million in sales taxes

X full and part-time jobs

WHY TOURISM IS IMPORTANT FOR YOUR COMMUNITY

COMMUNITY ECONOMIC STATISTICS
In (year), there was an average of over (number) employees in the industries of Arts, Entertainment, Recreation, Accommodations and Food Service.  Their total wages added up to over ($dollars).

(Community’s) (number) of properties employee over (number) people.

TRAVELER SPENDING BY SECTOR

Thought:          create a pie chart or graph to show figures

Thought:          what other categories are important for your stakeholders, region?

Transportation XX%

Lodging XX%

Food XX%

Recreation XX%

Shopping XX%

VISITOR SPENDING

XX% spent on lodging

XX% spent throughout the community

 (COMMUNTIY) TOURISM GENERATES

(Community) lodging tax (3%):  $xxx,xxx

City/County for Administrative Services (5%):  $xx,xxx

(DMO) portion to Market and Promote the Destination:  $xxx,xxx

$xxx,xxx in lodging tax receipts equals

$xx.x million in lodging revenues equals

$xx.x million/billion in visitor spending throughout the community

IMPACT OF STATE TOURISM ADVERTISING

X.X million Minnesota trips

$XXX.X million in traveler spending

$XXX.X million in direct state and local taxes

$XX to $X traveler spending return on advertising investment

$X to $X state and local tax return on advertising investment

* Use the Explore Minnesota Tourism & Minnesota’s Economy sheet for this data

YOUR ORGANIZATIONAL INFORMATION

HISTORY OF YOUR ORGANIZATION

Year your organization was formed

How your organization is funded

INCLUDE A LIST OF YOUR BOARD OF DIRECTORS

Name, Company, Title (Chairperson, Vice Chairperson, Treasurer, etc.)

INCLUDE A LIST OF STAFF

Name, Title, How Long They’ve Been with Organization and/or in the Industry

OTHER IDEAS TO INCLUDE and/or CONSIDER