This article answers the questions:
How are comparative destinations used in the TSI Live dashboard?
Why do you need to select comparative destinations?
What can you learn by comparing your destination to others?
Which destinations should you pick as comparisons?
By comparing destinations, you see a greater depth of detail in the analysis of your destination. They provide insights not only to your individual destination's performance but to your performance relative to similar locations. As you determine your comparative destinations, consider how they are used in TSI Live and what factors make them most helpful for your analysis.
How comparative destinations are used
Comparative destination data is included in the dashboard to provide a point of reference. For example:
If you see a decline in your destination's performance, do you see that for others, too?
If you see positive growth for your destination, do you see that others have similar growth?
Comparative destination data also serves to better understand your competitive strengths. For example:
Where is your destination outperforming your competitors?
Where is your destination underperforming compared to others?
Factors that make a great comparative destination
When narrowing your selection for comparative destinations, follow these three criteria to identify those with the best fit.
Destination activity profile: How similar are your destination and the potential comparative destinations to one another? The closer their activity profiles, the more competitive the results. Destinations with a similar activity profile provide you with the most direct top line performance comparison, as well as, specific comparisons for strengths and weaknesses. This level of comparison enables you to find the finer details for differentiation in your marketing efforts. For example, if your primary tourism activities are Scuba Diving and Snorkeling, and the same is true for your comparative destinations, you may find that your relative strength comes from the quality of your accommodation offering or food and culinary scene.
Geographic proximity: How close are your destination and the potential comparative destinations to each another? This is a good litmus test to determine whether potential travelers are considering between the destinations or considering them together as part of a larger trip. Through comparing destinations within a geographic region, whether similar or different, you can determine your relative strengths and also your complementary offerings to the destinations around you. This provides insight to where your destination fits amongst a broader travel itinerary and what your regional strengths may be.
Destination size: Comparing to destinations of similar size will provide the most accurate competitive growth rate comparisons. The best measure of destination size is the number of overnight visitors. This is also the best predictor of conversation volume.
The information in this article is intended to help you evaluate and select the best comparative destinations. These choices add value to TSI Live, so please select them carefully. After working with TSI Live, should you wish to change your comparative destinations, you may do so once within the term of your subscription. Please submit a support ticket with your change request.