Heritage Tourism Economics Tid-Bits
Sunday, September 30th, 2007In continuing our marketing research, we are working to define exactly who the most likely patron of the Wilson Hotel will be, in order that we can create and implement the best marketing strategy possible. Often while conducting this research we come across ‘golden nuggets’ of great information regarding heritage tourism and ideas related to it.
The economics of heritage tourism are of particular interest. We have learned that preservation in an area is not only about preserving the past. Preservation in a historic district is a key strategy for successful community planning and economic development. In addition, historic areas comprise the highest concentration of locally owned businesses. Locally owned/operated businesses make up as much as 85% of the business inventory in historical districts. Historical districts thrive because of the locally owned business that provides a unique and authentic experience to the heritage tourist.
The following statistics from recent studies are typical of the positive findings of preservation’s economic benefits according to the ACHP:
• Historic preservation activities generate more than $1.4 billion of economic activity in Texas each year.
• Rehabilitation of historic properties in Georgia during a five-year period created 7,550 jobs and $201 million in earnings.
• Each dollar of Maryland’s historic preservation tax credit leverages $6.70 of economic activity within that State.
• In one year, direct and indirect expenditures by heritage tourists in Colorado reached $3.1 billion.
The mission of the Advisory Council on Historic Preservation (ACHP) is to promote the preservation, enhancement, and productive use of our nation’s historic resources, and advise the President and Congress on national historic preservation policy. (more…)