Market Intelliegence & Research Strategy
A Framework for Accessible & Timely Research
The tourism industry is a fast-changing, dynamic market. Sound knowledge and insightful research are necessary to maintain competitive advantage and drive innovation.
For both government and the private sector, awareness of market trends as well as emerging opportunities and challenges is critical for future planning and growth.
The Department of Tourism, Culture and Recreation has an ongoing approach to conducting tourism-based research; specifically, tourism indicators, market opportunities, tourism issues, legislation, and policies and programs. The Department also maintains an active travel/tourism database for various marketing, customer relationship, and research purposes. However, a framework for obtaining and disseminating valuable market intelligence, and creating high quality, accessible, and timely marketing research for the benefit of all industry stakeholders is essential.
Timely, quality research is a fundamental tool for all tourism partners to help shape strategic decisions and achieve business objectives. A consistent research strategy and coordinated approach to information sharing is essential among stakeholders. It provides a beneficial forum to investigate broader tourism issues, and share information about current trends, new market opportunities, and changing traveller profiles.
Research also enables the tourism industry to make informed investment decisions regarding product and experience development, and market placement. And it’s a significant component of monitoring the success of investment decisions – a key requirement of Vision 2020.
As an industry, we must take advantage of opportunities to share research findings, optimize existing research, and establish new relationships to gain additional market intelligence. To capitalize on these opportunities a research agenda must be created, partnerships must be formed, and stakeholders must have access to timely and relevant information.
