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Shopping, primary tourist activity in US

According to the GGP Tourism Audit, it is estimated that tourists spent more than one billion dollars in 2000 at 29 top GGP tourism centers…

According to the GGP Tourism Audit, it is estimated that tourists spent more than one billion dollars in 2000 at 29 top GGP tourism centers. Tourism accounts for an estimated 31 percent of sales at GGP's top tourism centers.

Officials say that clearly there is tremendous growth opportunity in the tourism shopping Category, and that the GGP has one of the largest portfolios of shopping centers in major tourist markets in America, ranging from Ala Moana Center in Honolulu to Tysons Galleria in Washington, DC. General Growth Properties has initiated a corporate tourism strategy positioned as America's Favorite Shopping Destinations. Using this "umbrella brand," GGP will collectively market its primary tourism shopping centers as attractions through

customized local tourism marketing programs.

America's Favorite Shopping Destinations will be aggressively marketed at major domestic and international travel trade shows including International Pow Wow — the largest international travel trade show in the USA – and numerous other travel trade shows. The 29 GGP tourism centers will participate in their local and state tourism associations and trade events.

Travel Industry Association of America reports that 76 percent of the US adult population took at least one trip of more than 100 miles away from home during 1998. The US Department of Commerce/Tourism Industries projects global tourism will grow by five to 10 percent annually during the next decade.

Tourism target markets are pinpointed through ongoing research, tracking and strategic analysis, as well as a special study on international shopping tourism provided to GGP by the US Department of Commerce/Tourism Industries.

The target markets vary geographically. Ala Moana Center in Honolulu is one of the world's top shopping destinations. Tourism accounts for an estimated 45 percent of sales at Ala Moana. At Mall Del Norte in Laredo, Texas, affluent Mexican shoppers account for an approximate 65 percent of sales.

Several successful GGP tourism centers, including Coral Ridge Mall in Coralville, Iowa, and Fox River Mall in Appleton, Wisconsin, target the domestic group market with special emphasis on sports groups.

General Growth Properties is one of the nation's largest shopping center owners, managers and developers. General Growth currently has ownership interest in, or management responsibility for, a portfolio of 146 regional shopping malls in 39 states. The company portfolio totals more than 127 million square feet of retail space and includes over 15,000 retailers nationwide. A publicly traded Real Estate Investment Trust (REIT), General Growth Properties is listed on the New York Stock Exchange under the symbol GGP.