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The Guardian Australia reported last week that the Western Australian state government has provided an A$8 million subsidy for two exclusive Coldplay concerts in 2023. Their show at Perth’s Optus Stadium in November was described as a “major tourism success” for the Western Australian government. The state’s “return on investment” will undoubtedly be reported by one of the Big Four accounting firms and will inevitably cite ticket purchases, lodging and hospitality spending, etc. Whether you believe these reports or not, these metrics do not measure the true cost-effectiveness of large-scale cultural initiatives. The return on government investment in the arts…

The Republican Party of the Northern Mariana Islands is calling for sound economic policies to revive Tinian’s tourism industry, an effort that has been joined by Rep. Patrick H. San Nicolas (R-Tinian).San Nicolas announced that he will work with CNMI Republican Representative Diego T. Benavente to advocate for sound economic policies aimed at reviving the CNMI’s tourism industry.San Nicolas, the incumbent Rep. for the 6th Congressional District, is running for re-election in the 2024 general election under the CNMI Republican Party banner.”In response to President Benavente’s request, we are committed to implementing sound economic policies that will revive and strengthen…

Iraqi Prime Minister Mohammed S. Al-Sudani recently met with a delegation of Egyptian and Saudi Arabian businessmen, during which he encouraged investment in tourist resorts, hotels and entertainment facilities across Iraq. Al-Sudani stressed that Iraq boasts diverse tourism destinations, whose development is in line with the economic interests of other Arab countries. The government is actively promoting investment opportunities, especially in the housing sector and new city projects. Iraq, which needs around three million housing units, is moving towards creating integrated cities offering a range of services, entertainment and commercial facilities, linked to the capital Baghdad through an advanced transport…

China: China Tourism Group Duty Free Corporation (CTGDF), the parent company of China Duty Free Group (CDFG), the world’s largest travel retailer by sales, announced that its sales for the first half of the year ended June 30 fell 12.81% from the same period last year to RMB31.265 billion (US$4.3 billion).Net profit decreased 14.94% year-on-year to RMB3.288 billion (US$453.5 million).The year-on-year results for the first half of the year were heavily influenced by comparisons with January to April 2023, the period before the crackdown on proxy purchasing (see Goldman Sachs note below).The gross profit margin of our core business (CDFG)…

Greece has risen one place in the preferences of European tourists and is now in fourth place for 75% of the Old Continent’s citizens wanting to travel in the coming months, up six percentage points from last year. Importantly, Greece ranks first in Europe for inbound tourist spending growth in the first half of 2024, according to the European Travel Commission’s (ETC) latest rolling survey, “Monitoring Sentiments on Intra-European Travel – 19th edition.” Travel spending increased by 25% in Greece and Spain, 20% in Italy and 16% in France. Meanwhile, all Mediterranean destinations are at the top of the list…

Sidney de Almeida/iStock Editorial via Getty Images “The safest, most efficient, sustainable and comfortable airport in the world; a catalyst for the economy and tourism, and a creator of value for shareholders, customers and society” – Aena’s mission If you’ve ever been stuck in a long airport queue and thought how great it would be to make money from every passenger, you might want to consider Aena ( OTCPK:ANYYY ). The company essentially owns all of Spain’s major airports, has significant concessions in Brazil, and holds about 6% of Grupo Aeroportuario del Pacifico (PAC). Aena is particularly attractive for a…

Proposals are being considered to double entrance fees at the famous Italian tourist destination for next year.Venice has ended an experimental program that charged day-trippers a 5-euro ($5.46) entrance fee on particularly busy days, in a move critics called a failure. Authorities in Italy’s famous tourist destination, which is also a UNESCO World Heritage Site, introduced an entrance tax in April in the hope of deterring some people from visiting. The system was designed to manage tourist flows during peak visitor numbers. But on Saturday, dozens of activists gathered outside Santa Lucia station, overlooking the busy canal, to protest against…

HOLLAND, Mich. — Short-term rentals have sparked a protracted legal battle in a small town on Lake Michigan, and as the case continues, a new report seeks to assess the economic impact of vacation rentals.A rental advocacy group in Park Township, a small lakeside town bordering Holland, commissioned a study to better determine the value of rentals in the town’s economic ecosystem.Survey questions were sent out this spring to business owners in West Michigan and rental property owners in Park Township. Hope College’s Frost Center for Social Science Research administered the survey and analyzed the results.Related: Lake Michigan town bans…

Jerusalem and Tel Aviv have been named among the top 10 cities in the Middle East and Africa by readers of the prestigious American tourism magazine Travel + Leisure.More than 186,000 people took part in the annual survey and were asked to rate each city on a scale of one to five according to the categories of attractions, culture, food, friendliness, shopping and value for money.Jerusalem came in third with a score of 87.25, and Tel Aviv came in eighth with a score of 82.46. While these two Israeli cities have frequently been included on the prestigious list in recent…

Home » U.S. Travel News » World Travel and Tourism Council and U.S. Mexico Foundation Team Up to Promote Travel Across the Americas Sunday, July 14, 2024Reading time: 2 minutesGroundbreaking collaboration to revitalize global tourism In a key step to revitalize the global tourism industry, the World Travel and Tourism Council (WTTC) has signed a Memorandum of Understanding (MoU) with the U.S. Mexico Foundation. The partnership aims to identify strategic initiatives to boost travel and tourism between Mexico and the United States.The World Travel and Tourism Council (WTTC) is a forum for the travel and tourism industry. It is made…