by John Lambeth
Tourism BID's: Five Steps to Formation
SMG & Civitas Release First-Ever California Tourism Business Improvement District Study
February 3, 2011
Tourism Business Improvement Districts (TBIDs) have become one of the hottest trends in funding tourism promotions. In California there are over fifty TBIDs in place, but until now this trend has not been analyzed in detail.
To better understand the district formation process and the challenges and opportunities in forming a tourism related business improvement district, Civitas and the Strategic Marketing Group developed the report Tourism Business Improvement Districts: A Study of Tourism Business Improvement Districts in California. The report identifies characteristics of destinations that have implemented tourism business improvement districts.
TBIDs are reshaping the tourism industry by providing a secure source of funding for established tourist destinations and start-up funding for destinations without pre-existing marketing dollars.
What does this new source of tourism marketing funding mean? Destinations that create this new sustainable revenue stream increase overall tourism funding and have a distinct long-term competitive advantage. Over the long-term destination marketing organizations funded by TBIDs will probably outpace those funded solely by transient occupancy taxes.
In an effort to better understand the TBID process and the impact it is having on the tourism industry, Civitas and the Strategic Marketing Group have undertaken this study of California Tourism BIDs.
For a complimentary copy contact Melanee Cardoza at mcardoza@civitasadvisors.com or Carl Ribaudo at carl@smgonline.net .