(Originally published in the January 2012 issue of the Nova Scotia Business Journal - Outlook 2012 Special Edition)
In spite of many challenges, the tourism industry continues to show its resilience as an economic driver for the province. Generating $1.8 billion annually and supporting over 35,000 direct and indirect jobs, tourism creates economic activity in communities throughout the province.
Future success will require us to enhance our marketing efforts to emerging markets, increase the quality of the product and experience, and redefine the Nova Scotia story as one that will resonate with today’s savvy consumer.
Over the past few decades we have seen revolutionary changes in the industry and the way people travel. There are a number of factors that will continue to shape our success including the use and role of technology in travel decisions and the travel experience, the changing demographics of our customers, sustainability, and emerging markets.
Nova Scotia’s current market share is small and global competition is fierce. Our regulatory policies that impede the free flow of tourism need to be addressed. Affordable air travel and liberalized access is key. The growing competition means we need to ensure visitors can reach us with good roads, rail and ferries as well. We also need to look at intermodal travel and how our rural airports could be used in the development of charter business that would increase traffic into rural communities. Quality will continue to be a defining factor in the tourism industry’s success as sophisticated and seasoned travelers seek out destinations that offer high-value experiences in service and product.
Tourism is well positioned to increase its contribution to the provincial economy if we adapt to the rapid changes taking place and keep our customers top of mind. The September 2011 announcement of a new tourism agency for Nova Scotia is a positive step in the right direction as we realign our efforts and begin to place an appropriate emphasis on economic growth for our province.
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Did you know...
• Tourism generates $1.8 billion in tourism revenues and over $225 million in tax revenues annually.
• 2.1 million visitors come to Nova Scotia each year.
• 35,000 Nova Scotians are employed in the tourism industry.
*Outlook 2012 Special Edition: Read more about what 2012 holds for Nova Scotia's top industries at: http://www.ns.dailybusinessbuzz.ca/Industry-Spotlight-17342
