Boosting the productivity of Australia's tourism industry

摘要

This paper develops an optimised marketing budget that improves a destination marketing organisation's (DMO) - such as Tourism Australia's - composition of tourism flows. Drawing upon financial portfolio theory, the objective of the model is to minimise the fluctuations in tourist flows whilst improving aggregate tourist expenditure and dispersion (such as travels to regional communities) and identify an optimal portfolio of tourism flows for the DMO. The intended outcome of the model is to increase direct tourism expenditure in Australia, significantly reduce seasonal fluctuations in tourist arrivals, and stimulate regional tourism. Initial results indicate substantial improvements in tourism flows for Australia.