Friday, April 16, 2010

More on Preservation Economics - Heritage Tourism

If you've ever looked at the tour busses driving down Summit and thought "Do they really want to see houses like mine? Can there possibly be any money in that?' — the answers are YES they do, and YES, there is.

According to the National Trust for Historic Preservation, cultural heritage tourism is defined as “traveling to experience the places and activities that authentically represent the stories and people of the past and present.” At a time when the travel industry is struggling, cultural heritage tourism is actually growing, as people seek more value for their travel dollar.

Heritage tourism is important because it is exceptionally effective. Tourism is big business, directly contributing over $750 billion to the U.S. economy annually. Of these tourists, 81% classified themselves as cultural heritage travelers. Visitors to historic sites and cultural attractions typically stay significantly longer and spend more than other tourists — $994 per trip average in 2009, compared to $457 for the standard tourist. It is also a growing field, up more than 10% annually even during recent economic circumstances. The most important effect, however, is that this kind of travel is unique to a community’s specific circumstances, organically building upon its diversity and focusing on its unique sense of place.

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