By Bill LaFayette, vice president, economic analysis
Recently, I answered a question on LinkedIn for the International Economic Development Council (IEDC)– Is tourism a legitimate economic development strategy?”
I vote yes for two reasons.
1. Tourism is a prime example of an export industry—it brings dollars into your region from elsewhere. That is the only way that household income and standard of living can rise. The direct jobs tend to be lower-wage but can provide some level of income to individuals who might otherwise not have any; the indirect jobs, on the other hand, are spread across all industries and wage levels.
2. If you make your region attractive to tourists, you make it attractive to residents as well, so it can help with workforce retention. And don't forget that if you make your region sufficiently attractive to tourists, some will become residents.
Don’t underestimate the positive impact tourism can have on economic development. I encourage you to learn more about all there is do so and see right here in Columbus at www.experiencecolumbus.com.
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