InterVISTAS Consulting’s Post

Have Your Say | NSW Visitor Economy Strategy Review The NSW Government is reviewing the NSW Visitor Economy Strategy to reflect the Government's focus on experience tourism and to create alignment with the new Arts, Culture and Creative Industries Policy and other whole-of-government policies and programs. The current NSW Visitor Economy Strategy was originally published in January 2021 and provides a roadmap for growing the NSW visitor economy to 2030. The purpose of the review is to help NSW continue to set ambitious goals for the visitor economy, ensuring the settings are in place to grow this highly valuable sector. Visitor economy stakeholders are invited to contribute their insights and ideas to the review. Feedback will help identify the barriers to growth and most importantly, the opportunities and strategic initiatives that will turbocharge the growth of the visitor economy through to 2035. Share your insights and feedback by Sunday 2 June 2024. Read the NSW Visitor Economy Strategy and complete the survey via https://lnkd.in/gr5skJPU #haveyoursay #visitoreconomy #feedback #strategy #tourism #operators #industry #stakeholders #insights #economic #goals #growth #opportunities #regionalnsw #nsw #centralwestnsw

Victoria’s booming post-Covid visitor economy continues to grow, generating a new record high in the latest data. Results published by the National and International Visitor Survey showed $37.8 billion in tourism spending in Victoria in 2023, $5.4 billion higher than 2019. Victoria’s major events calendar also delivered $3.3 billion to the State’s economy in 2022-23. Read more:

Snapshot - A Region-by-Region Outlook • Gold Coast: The market remains strong, driven by a combination of population growth, tourism, and lifestyle demand. However, affordability issues and rising interest rates may slow growth slightly. • Byron Bay: A premium, exclusive market that will continue to attract high-end buyers, though supply constraints will limit broader participation. • Sunshine Coast: Positioned for strong growth, with a favourable balance of affordability, lifestyle, and infrastructure investment. It remains an appealing destination for both investors and homeowners looking for long-term capital growth. Read more here: https://loom.ly/LTUv9DE

🌟 Brisbane is Booming! 🌟   Some incredible insights from the inaugural State of the City Report, developed in collaboration with Deloitte Access Economics. There is some impressive figures below showcasing Brisbane's trajectory towards economic growth!   📈 Unprecedented Growth: Brisbane's economy is forecasted to skyrocket by a staggering 68% over the next 20 years, reaching a phenomenal $275 billion mark by 2041. This growth is powered by a combination of factors, including Australia's fastest-growing working-age population, a remarkable 41% surge in exports by 2031, and unprecedented growth in key sectors.   💼 Thriving Sectors: The report highlights the thriving sectors propelling Brisbane's ascent. From health (projected 36% growth) to property and construction (41%), transport and logistics (43%), advanced manufacturing (29%), professional services (50%), and the experience economy (41%), Brisbane is at the forefront of innovation and industry evolution.   🌐 Global Recognition: Brisbane's strategic positioning as an economic powerhouse in the Asia Pacific is gaining global recognition. With over 140 innovation hubs, world-leading robotics skills, and a manufacturing sector outpacing the rest of Australia, Brisbane is attracting attention from investors and businesses worldwide.   🏙️ Lifestyle Capital: Beyond its economic prowess, Brisbane is solidifying its status as Australia's lifestyle capital. With record-breaking visitor spend, unprecedented revenue growth in the hospitality sector, and a culinary boom, Brisbane offers an unmatched quality of life and endless opportunities for residents and visitors alike.   🌟 Investment Magnet: Brisbane's potential as an investment destination is undeniable. With a highly skilled and growing workforce, strategic export advantages, and a supportive business ecosystem, Brisbane presents unparalleled growth opportunities for businesses, innovators, and investors alike.     #Brisbane #EconomicGrowth #Innovation

NEW REPORT | Spending time: the role of the visitor economy in UK cities 🧳 This new report presents a comprehensive picture of domestic visitor spending in UK cities, which accounts for three quarters of all visitor spend nationally. Only a third of all cities can be classed as a 'destination' 📌 These select places bring in a larger share of spend from overnight domestic visitors than their size would indicate. The visitor economy is effectively the domestic visitor economy in most of these places. York ranks highest for visitor spending out of UK towns and cities, with visitors accounting for £1 in every £3 spent 🪙 This means that York can sustain a wider range of pubs and restaurants than if it didn’t have visitors spending on its high streets. Visitor spending patterns look very different to those of locals in UK cities 🛍️ Visitors spend more of their budgets on shopping, eating out, and on leisure and entertainment activities. Overnight visitors, at £100 per trip, spend twice as much as day visitors in person. Visitors can help sustain and diversify local services in some standout UK destinations. But for most cities where the visitor economy is small, there may be more pressing economic challenges such as expanding the local export base, raising local productivity and wages. Read the report 👇 https://lnkd.in/ebCUW2KS

BLOG | Answers on a postcard: can the visitor economy bring prosperity to UK cities? 🧳 Visitors can help sustain and diversify local services in some standout UK destinations. But for most cities where the visitor economy is small, there may be more pressing economic challenges. Read our latest blog from Rob Johnson👇 https://loom.ly/kfNzzl4

What is the Longitudinal Indicators for the Visitor Economy (LIVE) Framework? "Historically, the progress and sustainable development of the visitor economy has primarily been measured and understood in economic terms. However, in recent years, there has been increasing recognition, both domestically and internationally, that understanding the overall health of the visitor economy requires the collection and reporting of a wider range of metrics and indicators. The Longitudinal Indicators for the Visitor Economy (LIVE) framework aims to provide that more complete picture. It does this by measuring and reporting on social, environmental and institutional factors, alongside the more traditional economic considerations. These additional factors also increase awareness of issues considered important for the sustainable development of the visitor economy." Read more 👇 https://lnkd.in/g5KgRmQi

This recent Centre for Cities headline caught my attention: #York ranks highest for visitor spending out of UK towns and cities, with visitors accounting for £1 in every £3 spent. Blackpool ranks the highest in the country for spending by overnight visitor. Article: https://lnkd.in/eCQVzCZB Centre for City also wrote an interesting blog: can the visitor economy bring prosperity to UK cities? Visitors can help sustain and diversify local services in some standout UK destinations. But for most cities where the visitor economy is small, there may be more pressing economic challenges. Read their latest blog from Rob Johnson: https://loom.ly/kfNzzl4 This report refers to York having a weak local economy which relies heavily on visitor spending - let me know what you think?

As we move into the silly season, the Northern Beaches commercial property market has shown a mix of resilience and adaptation to current economic conditions. While the region continues to be a sought-after location for businesses due to its prime positioning, strong local economy, and attractive lifestyle offerings, there are several key trends shaping the market.

This article shows exactly why we do not need the “value games” as ill stated by the Queensland premier Steven Miles recently, perhaps for short term political gains with living crisis, yet long term ridicule if the plans he stated happens (actually shot himself in the foot by stating this for next election, another story….). We need proper games as the return on investment will be evident and will create economic upside for the state leading into it. “value games” talks reduces investment, population growth, new projects in the state, both short and long term. This is not good! I cannot vote as a Frenchman so I do not follow / vote on politics, BUT, I love Queensland and Australia. Brisbane and Queensland are not cheap, not about cutting corners and delivering sub standards games to the world. Queenslanders are proud, forward thinking, innovative, winning people ready to take on the world. These games will help Queensland and Brisbane grow to the potential stated in the report. This will show the world what Queenslanders and Australians can do and the place they hold and contribute, with investment and population growth helping to maintain this growth for years to come. Let’s keep the momentum going and forget about “the (little) value games” (does not deserve capital letters). We (Brisbane, Queensland, Australia) need PROPER AMAZING UNFORGETTABLE GAMES! We are not about the ill thinking “value games”, we are about delivering the best and most memorable games the world has ever seen, beating the NSW games (state of origin comes to mind for Queenslanders out there), whatever it takes! This is the legacy and future Queensland and Australia deserves, nothing else!……. With that said, Fair Dinkum, What was he thinking when he stated “value games”??!