We’re happy to share an insightful article co-authored by Greg Klassen together with our Travel Alberta partners, that delves into the intricate balance of value and pricing in the tourism sector. This article offers valuable perspectives on how tourism operators, especially smaller ones, can navigate sustainable growth post-pandemic. Key Takeaways: - The critical shift from price to value for long-term success. - Addressing the "90/10 bias" and optimizing revenue from both local and long-haul travelers. - Leveraging sophisticated pricing models traditionally used by larger entities for smaller businesses. In a world where maximizing value from existing resources is crucial, we hope this article provides valuable insights for our partners and tourism stakeholders. David F. Goldstein Anasuya Chattopadhyay Skift Advisory #Tourism #SustainableGrowth #ValueOptimization #TeamWork #IndustryInsights https://lnkd.in/ejFpNK-k
It’s been said, “some folks know the price of everything… and the value of nothing.” For years, the tourism sector has looked to the elusive “high yield traveller” to chart a path to sustainable growth. And, as destinations across the world face increasing capacity issues during peak seasons, we must grow tourism revenues at a much faster pace than visitation. In a world balancing revenues and sustainability, it may not be about gaining more lemons, but about squeezing more juice from the lemons you already have. Thank you Greg Klassen and Anasuya Chattopadhyay for your contributions to this piece.