More than 60 percent of convention and visitor bureaus report that sales leads and definite bookings have remained…
More than 60 percent of convention and visitor bureaus report that sales leads and definite bookings have remained stable or have increased for first quarter 2003 against the same period in 2002, according to a recent Business Barometer survey conducted by the International Association of Convention & Visitor Bureaus (IACVB). Additionally, association leads offer an even more positive outlook with 43 percent of respondents citing higher numbers than last year. Other key findings comparing first quarter `03 to last year are:
- Thirty-three percent report citywide leads are higher.
- Twenty-two percent report corporate leads are higher.
Of the five factors bureaus were asked to rate on the impact on business, current economic conditions by far outweighed any other factor, with 62 percent stating its high or very high impact. Other overall ratings were (5= very high impact; 1 = no impact):
- Current economic conditions – 3.9
- Iraq war – 2.7
- Effects of terrorism – 2.5
- Gasoline prices – 2.4
- Reduced air flights – 2.3
- SARS 1.4
While there is certainly room for improvement, we regard these results as extremely positive, remarked IACVB President and CEO, Michael Gehrisch. The fact that business has remained stable, and in some areas, increased, is remarkable news for our industry and indicates the beginning of a recovery. Also significant is the fact that these bookings reported from our members are for the next several years – not just the next six months – and indicate a long-term positive outlook, he added.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
