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Measuring the true value of tourism

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Media Release

A new report released today by Federal Minister for Sport and Tourism, Jackie Kelly, will help take the guesswork out o f assessing the value of tourism to local communities and regions.

Successful tourism ventures create new jobs and generate economic growth.

Valuing Tourism ~ Methods and Techniques, will also help tourism practitioners determine the likely return on their investment in a local event or tourism development, or gauge the economic impact o f a specific tourism promotion.

The report was prepared by the Bureau o f Tourism Research and Tourism New South Wales.

“Tourism is a major employer in regional areas, where its job-creating momentum is helping off-set the decline o f rural industries,” the Minister said.

“Successful tourism involves planning to ensure it’s not a hit-or-miss affair.

“This handbook will encourage an understanding among regional tourism officers, planners and operators o f the techniques used to put a value on tourism and the practical issues they may encounter."

The Minister said the Federal Government is moving quickly to address the current lack o f comprehensive, credible data on the contribution tourism makes to Australia’s economy.

“In particular, w e’re providing $920 000 funding to develop an Australian Tourism Satellite Account (ATSA), linked to the National Accounts," she said.

“Given that tourism currently accounts for $16.4 billion in export earnings and is directly and indirectly responsible for the employment of more than 1 million Australians, it’s high time that it is recognised in official statistics.

“The ATSA will provide a real and solid measure of tourism’s role in the Australian economy, enabling it to be compared with our other major industries in terms o f size, economic performance (including employment) and contribution to Gross Domestic Product."

The Minister said this initiative was one of a suite of measures the Federal Government was taking to helpr secure the long-term future of Australia’s tourism industry.

Minister for Sport and Tourism

Wednesday, 24 M arch 1999 99/054



Parliament House. Canberra ACT 2600 Tel: (02) 6277 7080 Fax: (02) 6273 4571

Other initiatives include the development of a strategy to encourage tourism operators to embrace technology arid ‘go online’ and funding to help regional Australia become ‘tourism ready’.

Media inquiries: CMR152

Peter Cassuben Minister Kelly’s Office (02) 6277 7080/0417 980 009

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