The Visitor Economy Index shows how your tourism economy is doing compared to the same month in the previous year. Learn more about the visitor economy index here!
What is the Visitor Economy Index?
The Visitor Economy Index shows how your tourism economy is doing compared to the same month in the previous year.
Watch this video for a quick explanation, or read the text below for more details...
Examples of Inputs:
Below you can see and example of the the visitor economy index which shows the % change year-over-year for:
- visitor device count
- visitor cardholder count
- visitor total spend
- hotel demand
- hotel revenue
- short-term rental revenue
Example of What the Visitor Economy Index Looks Like:
*Your data value categories may vary depending on the data set you provide during implementation.
What is it used for?/What question will this answer?
This index will help you understand how your destination is performing across several key indicators. Use this to communicate to stakeholders how your destination's visitor economy is performing year-over-year.
How does it work?
We calculate the percent change across all inputs and then weight them. Anything above 0 means that performance is ahead of the previous year. Anything below zero indicates that performance is below the previous year.
What data is included in this index?
Visitor device count, visitor cardholder count, visitor total spend, hotel demand and revenue, and short-term rental revenue.
Versions of Visitor Economy Index
Since this index is dependent on data sets you bring in, there are versions of the Visitor Economy Index that compare similar sets of data across all partners. It all depends on what data you subscribe to. For example, you might subscribe to STR but don't receive Demand or Revenue data as part of your subscription. In that case, your index would include Occupancy and ADR instead.
How is this index calculated?
Each data set is weighted depending on the number of data sets brought in by the partner and calculated to give an overall percentage.