We Surveyed 112 Tourism Leaders to See How They’re Faring
BOSS survey shows revenue is up, and so are expectations for the future.
Visitor Industry Bounces Back
Results of the BOSS Survey of 112 tourism industry leaders show strong performance overall and widespread optimism.
We split the results from the Performance and Optimism indexes: The following numbers compare visitor industry companies with all other companies surveyed this fall.
On average, companies in the visitor industry are doing substantially better than they had been doing and their leaders are significantly more optimistic on average about the coming year than leaders of other local businesses.
The visitor industry had been at a low point in the last two years, but companies in that sector have rebounded. They were especially strong on revenue and profit in this survey:
- 57% of those surveyed said they experienced increased revenue in the past year and 48% enjoyed higher profits.
- The comparable percentages among all other companies were 42% and 29%, respectively.
Is Visitor Spending Heading Up?
Visitor industry leaders were bullish when asked about overall visitor spending over the next year or two.
Next, these same business owners and executives addressed the impact on their bottom lines as a result of the relative absence of tourists from Japan and other Asian countries. They were asked which of the following three options best mirrored the impact on their companies.
Visitor industry companies on O‘ahu have been harder hit: 41% of O‘ahu tourism companies say this absence continues to hurt their bottom line. Meanwhile, 74% of Neighbor Island tourism businesses say they have not been impacted by the loss of travelers from Asia.
Read other parts of this BOSS Survey of 421 business owners