The Economics of Tourism in Minot

1
The Economics of Tourism in Minot

• The New North Dakota

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Tourism Is Primary for Development

• Tourism adds visibility for a community.
• Tourism creates capital spending in communities
  that adds value for many years.
• Tourism creates payroll.
• Tourism adds to quality-of-life by supporting
• Retail establishments.
• Entertainment/arts/recreation establishments.
• Enhanced community look.
• Enhanced transportation nodes (Amtrak, air,
  roads).
• Lodging.
• Primary industries (farm tourism, eco-tourism,
  etc.).
• Tourism infuses needed funds into a community.
• Tourism introduces potential new residents and
  businesses to the community.

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Understanding the Potential
The North America heartland stretching from
Alaska through central Canada, the plains of the
United States to the northern reaches of Mexico
is struggling to transition into the 21st
century. Absent a bold and bridging vision for
the future, this corridor is linked together only
by geography and demography that is punctuated by
stagnant property values, dwindling and aging
populations, and shrinking tax bases.

• An example makes the case Assessing the Economic
  Impact of Ecotourism Developments on the
  Albermarle/Pamlico Region (NC). 2001, Report
  99-06-07459 (US DOC EDA) prepared by East
  Carolina University.
• All 5 counties in the study region ranked in the
  bottom third of NC counties for median household
  income and two ranked as the poorest counties in
  the state.
• 4 of the 5 counties have a median household
  income 20 below the state median household
  income of 42,400

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Economic Impact (1999)

• Direct event spending 2 million.
• Total economic impact including capital
  expenditures 90 million.
• Travel and tourism related jobs 1020.
• Tourism generated payroll 15.5 million.
• Per person spending when combined with cultural
  event was 330.

• Who visited
• 50 males and 50 female.
• 18-22 4
• 23-30 4.
• 31-40 18.
• 41-50 23.
• 51-60 29.
• Over 60 19
• Implications
• Prime human capital in-migrants targets made-up a
  large segment of the visitors.
• Family age introduction to NW North Dakota.

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United States County Size Distribution, 1998
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Non-Quantifiable Impacts Identified

• Developments make the region a better place to
  live for the current residents.
• Developments make the region a better place to
  visit.
• Respondents stated they will visit other sites
  within the region on current trip and future
  trips.
• Enhanced private investment in QOL in the region
  such as entertainment, shopping, dining, arts,
  and recreation tourism served as a catalyst to
  improve the QOL.

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