TOURISM SATELLITE ACCOUNTING

Global Insight’s travel and tourism practice works closely with state and national governments to create Tourism Satellite Accounts (TSA). TSAs are designed to measure the economic impact of travel and tourism on a national, state, or regional economy. Compared with traditional economic-impact methods, this system provides a more comprehensive and accurate view of the tourism industry.

Tourism Satellite Accounts provide answers to key questions such as: How much of each tourism dollar is retained in the economy? How does government support of tourism compare to the tax revenues generated by the industry? How many tourism-related jobs exist in an economy and what are the resulting wages and salaries? How does tourism compare to other industries? What contribution does tourism make to other industry sectors? With results generated from a Tourism Satellite Account. GLOBAL INSIGHT TSA ENGAGEMENTS INCLUDE: Israel Bahamas Hungary Alaska North Carolina Virginia Dubai Singapore Turkey New Jersey South Carolina Utah Abu Dhabi Guam Kansas North Dakota Delaware Rhode Island .TOURISM SATELLITE ACCOUNTS Global Insight’s TSA studies provide a complete picture of the contribution that tourism makes to an economy and includes measures of tourism size and growth that are comparable with other destinations and industries. and take other steps necessary to support the industry. government agencies can create realistic marketing budgets. justify capital expenditures.

Foods and Beverages. making the measurement of tourism activity consistent and comparable across states. Recreation. as well as how it benefits other economic sectors. . tourism is defined by what visitors buy. Furniture and Fixtures. How can we benchmark ourselves against our destination competition? Provide an accepted international standard for benchmarking. Iron/Steel. countries. By using this standard. Entertainment. Rental Car Manufacturing. Chemicals. and citizens? Quantify the contribution that tourism makes to GDP. Concrete. Oil/Gas Suppliers. Ship Building. wages. and taxes. tourism is a demand activity that touches many industries. Wood What is commonly thought of as the “Tourism Industry” is only the tip of the iceberg BENEFITS OF TSA How can we communicate the full value of tourism to policy makers. Resort Development. Unlike other sectors in the economy. Tourism Satellite Accounting is the international (UN/WTO. businesses. Computers. Utilities. Security. Metal Products. food and beverage. Tourism Industry (Direct Effect) Accommodation. jobs. Financial Services. Guam can be compared to the Bahamas. Plastics. Laundry Services. Sanitation Services. OECD) standard for measuring the contribution of tourism to an economy. As such. Which are our best economic development targets and are candidate industry-requested concessions worth it? Allow policy makers to compare the size and growth of tourism to other industrial sectors. including accommodations. The key is to separate the level of industry activity made by visitors from that which is contributed by residents. and industries. Rhode Island compared to Utah. tourism cannot be measured using standard economic accounting methods. Printing/Publishing. Wholesalers. Are we spending enough on tourism promotion and infrastructure? Compare government support of the tourism sector with government revenue generated by tourism. and tourism compared to healthcare or information technology. Suppliers.TOURISM SATELLITE ACCOUNTING MEASURING TOURISM: WHY USE TSA? Measuring tourism is difficult. and entertainment. Mining. transportation. each TSA is constructed in precisely the same way. Textiles. Transportation Tourism Economy (Indirect Effect) Aircraft Manufacturing. Catering. While most industries are measured by counting what is produced. What is the return on investment of public tourism investment? Enable analysts to assess long-term health of the tourism sector vis-a-vis capital investment and government support.

2600 EUROPE E-mail: info@globalinsight.1470 +65 6430.5000 MIDDLE EAST Beijing Shanghai Singapore Tokyo ASIA +86 13. covering North and South America. regions.globalinsight.55.8544. with 23 offices in 13 countries. The company has over 3.GLOBAL INSIGHT TRAVEL AND TOURISM EXPERTS For more than 20 years.5219. customized to meet client needs.5000 +44 (0)20. and industries available from any source.5228. fully supported by our 325+ economists and analysts worldwide with expertise in over 120 industries and 200 countries.com Frankfurt +49 (0)69.665.800.3374 Mexico 1. finance.687. provides the most comprehensive economic coverage of countries. and government around the world. Europe.933.5420 +44 (0)20.5525.1 Paris +33 (0)1.45.99811 +86 21./Canada 1. fact-based view of the travel and tourism industry. THE POWER OF PERSPECTIVE ABOUT GLOBAL INSIGHT: Global Insight.86481.800 clients in industry. Global Insight provides a comprehensive view of travel and tourism.S.com Pretoria London AFRICA +27 (0)12.7452. our team of travel and tourism experts has provided an independent.1314 6-07 . and Asia.6621 +81 (0)3.2565 NORTH AMERICA Web: www.7800 Milan +39 02. Africa. CONTACT US U. the Middle East.0 London +44 (0)20.20973.800. By reconciling economic factors with detailed travel data and information on specific markets. Our approach to travel and tourism research marries consistent quantitative measures with careful qualitative analysis — always in the context of global economic reality. Inc.7452.