As we know, the tourism and hospitality industry face a long and challenging recovery. In the face of an unforeseen market instability, businesses, industries and government urgently need data-driven insights and tools to support recovery planning and decision making. That’s where Destination Dynamics: Realtime, Local, Economic & Labour Forecasting really goes to work.
A first of its kind, Destination Dynamics enhances and extends traditional labour and economic forecasting through the integration of AI enabled web analytics. It enables never before seen labour market and revenue forecasts, by industry segment, at the destination level.
Think of it as a ‘crystal ball’ only rooted in historical data and powerhouse analytics that looks into revenues and employment by region to help create recovery plans at a local level. It can even support government stakeholders in forecasting local spending and tax revenues at each forecasted stage of the recovery.
Because it builds upon Canada’s traditional tourism labour market information and forecasting framework, developed by Conference Board of Canada, the data is relevant to stakeholders and planners at the local, provincial and national level.
DISCLAIMER: The Ontario Tourism Education Corporation (OTEC) has partnered with Conference Board of Canada to bring you Destination Dynamics insights across Ontario.
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Looking for revenue forecasting to help you plan for the future? Labour trends? Differentiating between local and visitor spending? There are just a few of the data points that the Economic Impact Forecast Model provides. Forecast views are 5 years out and are updated quarterly, allowing organizations to make smarter business decisions today for the greatest impact in the future.