Tourism & Hospitality
EconSearch has undertaken many regional economic impact studies for a range of tourism industry clients. These have included assignments for Major Brisbane Festivals Pty Ltd (e.g. The Economic Impact of the Brisbane Festival); District and Regional Councils of the Flinders Ranges and Outback region (Economic Modelling for the Flinders Ranges and Outback Integrated Regional Strategic Tourism Plan) and the Murraylands Regional Development Board (Economic Modelling for the Murraylands Regional Strategic Tourism Plan).
In undertaking these studies EconSearch has developed a standard analytical approach: Method to Calculate Estimates of Tourism Sales to Final Demand and Contribution to Gross State Product. This method is based on the approach used by the Australian Bureau of Statistics in preparing its tourism satellite accounts.
An important potential impact of tourism development scenarios is the impact on the population at the local level. A demographic model, linked to the regional input-output model, is generally constructed by EconSearch to estimate likely changes in local area population given economic decisions/response in the region. The DECON models (demographic-economic models) enable recognition of the relative importance of demographic characteristics of the population including the non-working population and the propensity for inward and outward migration.