TOURISM SATELLITE ACCOUNTING

Global Insights 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 Global Insights 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. 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, government agencies can create realistic marketing budgets, justify capital expenditures, and take other steps necessary to support the industry.

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 ACCOUNTING

MEASURING TOURISM: WHY USE TSA? Measuring tourism is difficult. Unlike other sectors in the economy, tourism cannot be measured using standard economic accounting methods. While most industries are measured by counting what is produced, tourism is defined by what visitors buy. As such, tourism is a demand activity that touches many industries, including accommodations, transportation, food and beverage, and entertainment. The key is to separate the level of industry activity made by visitors from that which is contributed by residents.
Tourism Satellite Accounting is the international (UN/WTO, OECD) standard for measuring the contribution of tourism to an economy. By using this standard, each TSA is constructed in precisely the same way, making the measurement of tourism activity consistent and comparable across states, countries, and industries. Guam can be compared to the Bahamas, Rhode Island compared to Utah, and tourism compared to healthcare or information technology.

Tourism Industry (Direct Effect)

Accommodation, Recreation, Catering, Entertainment, Transportation

Tourism Economy (Indirect Effect)

Aircraft Manufacturing, Chemicals, Computers, Concrete, Financial Services, Foods and Beverages, Furniture and Fixtures, Iron/Steel, Laundry Services, Metal Products, Mining, Oil/Gas Suppliers, Plastics, Printing/Publishing, Rental Car Manufacturing, Resort Development, Sanitation Services, Security, Ship Building, Suppliers, Textiles, Utilities, Wholesalers, 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, businesses, and citizens? Quantify the contribution that tourism makes to GDP, jobs, wages, and taxes, as well as how it benefits other economic sectors.
Are we spending enough on tourism promotion and infrastructure? Compare government support of the tourism sector with government revenue generated by tourism. 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. 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. How can we benchmark ourselves against our destination competition? Provide an accepted international standard for benchmarking.

GLOBAL INSIGHT TRAVEL AND TOURISM EXPERTS For more than 20 years, our team of travel and tourism experts has provided an independent, fact-based view of the travel and tourism industry, fully supported by our 325+ economists and analysts worldwide with expertise in over 120 industries and 200 countries.
Our approach to travel and tourism research marries consistent quantitative measures with careful qualitative analysis always in the context of global economic reality. By reconciling economic factors with detailed travel data and information on specific markets, Global Insight provides a comprehensive view of travel and tourism, customized to meet client needs.

THE POWER OF PERSPECTIVE

ABOUT GLOBAL INSIGHT: Global Insight, Inc. provides the most comprehensive economic coverage of countries, regions, and industries available from any source. The company has over 3,800 clients in industry, finance, and government around the world, with 23 offices in 13 countries, covering North and South America, Europe, Africa, the Middle East, and Asia.
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