ABSTRACT
CVB. Also factor in anything new that is planned, i.e., your airport has announced new direct flights from the London twice a week, or a major new development is planned in partnership with a Japanese firm that will send a large number of its management personnel to your area and so on. Next, determine from among your key inbound markets who is the most likely to visit your cultural and heritage institution and how much they are likely to spend. Then look at logical opportunities to work with tourism partners in your area to increase your share of these key markets. You may consider something as simple as posting a welcome sign in other languages at a scenic point in your cultural or heritage institution, encouraging the sharing of photos via social media, and taking a picture of your smiling team members with the welcome sign and using the photo on your website, social media and other tourism marketing. Who Is Spending Money? Cultural and economic trends influence both visitation and spending. Japanese and Chinese guests, for example, are historically among the highest spenders per capita due to their tradition of gift-giving and buying in multiples. At the time of this writing, the Canadian and Australian dollars are on par with the U.S. dollar, creating a fluny of spending from these inbound markets. Likewise, the heightened value of some international currencies compared with the U.S. dollar means that the United States is on sale for international travelers, who find the quality and value of shopping in the United States superior to any other destination. Consider how happy these international visitors are to spend their travel savings shopping in your store or visiting your institution. Everything is a terrific bargain from their point of view. In fact, Shop America Alliance’s International Shopping Traveler studies in 2009 and 2010 show that international travelers spend on average more than $1,000 per person per trip on shopping!
