What do we mean by developing a product based on a creative ...

[aabwk4]

Question 1

Why is measuring economic impact so important?
 
  What will be an ideal response?

Question 2

What do we mean by developing a product based on a creative combination of elements? Provide examples.
 
  What will be an ideal response?

[wergv]

Answer 1

Governments in particular have choices as to spending. If they're going to spend money on a project, the expectation is that there will be benefits to the community in terms of job creation and higher profitability for local businesses. When it comes to building travel and tourism facilities like a convention center, new visitors should be attracted who will spend money on hotels, restaurants, and local attractions that will add to the local economy. Being able to measure such an impact will tell a government whether the investment was wise or not. Private companies are not concerned about the total impact of an investment, only their own profitability.

Answer 2

At times, a destination's amenities can be packaged around a theme leading to interesting promotions that can be marketed to individuals, tour operators, and travel agents. Examples include themed historic celebrations, anniversaries, or agricultural festivals.

[aabwk4]

Thanks

[wergv]

Welcome