Thursday, July 1, 2010

New Study: Visitors Are Younger, More Affluent

Visitors to Lake Placid and Essex County in 2009 were younger and more affluent than in 2008 according to the latest travel and tourism study. For the seventh year in a row, the Technical Assistance Center (TAC), based at SUNY Plattsburgh, was contracted by the Lake Placid CVB/Regional Office of Sustainable Tourism (LPCVB) to conduct an independent, third party Leisure Travel Information Study.

According to the report, the average household income of 2009 respondents was $93,211, which is slightly higher than in 2008 and the 5-year average of $91,610. The average age was 49.9 years, slightly lower than in 2008, with a 5-year average of 48.9 years.

Respondents live primarily in the Northeast. Hotels remain the most common type of lodging respondents used during their stay. When asked to select the activities which attracted them to the region, the top three were consistent with the 5 year average: outdoor activities, relax/dine/shop and sightseeing.

The results affirm many of the findings from previous years according to the study’s authors. Although there are seven years of data, the 2009 report compares to a five year rolling average to smooth out anomalies.

The LPCVB promotes the Schroon Lake, Lake Champlain, Whiteface, Saranac Lake and Lake Placid regions. The study is based on a survey of the LPCVB’s 2009 trackable leads database. New leads are added on a constant basis; walk-in visitors, phone and mail inquiries, bingo cards from magazine advertising, and web signups provide a snapshot of the respondents to the 2009 overall marketing efforts.

Although lakeplacid.com alone receives millions of unique visitors, the survey takes only these trackable leads into consideration. In order to calculate the economic impact of the LPCVB’s marketing efforts exclusively, the results do not include any standard economic multipliers, such as the impact from group visitation, staff expenditures, sales tax or events.

In addition to valuable demographic data and trends, the study’s intent is to determine the effectiveness of the LPCVB’s marketing programs, to measure the return on investment (ROI) ratio for public marketing expenditures and the conversion rate factor, or the number of those leads who actually visited the region.

The report found that the percent of visitors who stated that the information or advertisements viewed influenced their decision to visit the region was 79%, which is near the five-year average of 82%. And, for every occupancy tax dollar the LPCVB spent on marketing, visitors to Essex County spent $89, which is slightly higher than in 2008, and lower than the five-year average of 99:1.

The 2009 report, additional CVB research and more is available for download at a new online resource developed specifically for local tourism-related businesses at www.lakeplacidcvb.com.

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3 Responses

  1. Ann Melious says: