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THE MOST IMPORTANT EXECUTIVE KPI
We are excited to announce early results from new research into predictors of tourism activity. Imagine predicting visitor volumes beyond the big-picture ebbs and flows of seasonal interest. Imagine seeing a downturn before it happens and proactively working to mitigate it. Imagine knowing how far unexpected changes in tourism will drive accommodation tax revenue.
This is the kind of key performance indicator that we believe lies at the intersection of sentiment and tourism activity. We have launched a research initiative to explore that connection and its impact, especially the potential for visitor spending.
Our research is just beginning, and what it is revealing is exciting. Taking a peek at one early result, you can see how changes in the Tourism Sentiment Score® (TSS) for Destination Campbell River line up to changes in the community's accommodation revenue. While the performance behind each set of data has been affected by the pandemic, there is a clear pattern of similar development in close time frames. In short, as sentiment rises, so does accommodation revenue -- and vice versa.
The early result for Campbell River is one within a set of destinations that we are researching now and where similar patterns emerge. We are diving deeper to understand how Tourism Sentiment Score® predicts performance in destinations around the world through a correlation study. This research is poised to unlock a new, highly valuable, executive KPI for business growth in the tourism industry.
You are invited to get your destination's own correlation study. To be eligible, you must be able to provide:
Critical performance data (hotel tax collection, accommodation revenue, visitor spending, other quantified dataset), and
Desire to discover a new crystal ball for tourism.