Domestic Tourism and Outlet Shopping
Domestic Tourism and Outlet Shopping
Domestic Tourism and Outlet ShoppingThe recession has really done a lot to change buying attitudes among consumers. It has brought to fore the adjustments needed to be done by consumers to adapt to the changing fortunes of the times. Gone are the 80's, the days when consumers felt affluent enough to afford a number of things that they would have normally forgone with their meager incomes. Those were the days when everything could be had for credit.
The recent recession really jolted a lot of people back to reality. While the country continues to enjoy a brisk economy, there remains the matter of shrinking margins, with globalization acting as a two edged sword, allowing new markets to be tapped while encountering new competitors in newly opened markets. A lot of people now are opting to hold on to their savings, going for value over variety. This is reflected in their choice of destinations when touring, with many opting for vacationing in domestic destinations than their former choice of foreign countries.
There was a time when it was more advantageous to tour outside the country, with the strength of the currency allowing tourists more bang for their buck. But the economy continues to languish in modest growth, forcing many to opt for local tourism as a means of helping the economy recover.
Domestic tourism has the potential of stimulating the retail sector. Tourism is a means by which an area with few manufacturing concerns or industrial base can attract money.
Not all of Florida has that cosmopolitan flair about it. Lesser known tourist spots such as the Emerald Coast can benefit from this trend in domestic tourism, increasing spending in their area by encouraging the relocation of Florida shopping outlets in their area.
Even with a modest mall, Florida visitors can stimulate the Emerald Coast's economy. By attracting visitors to offerings of branded, high-quality, affordable products, the local government can generate the money for further infrastructure development from the reasonable taxes imposed on such products.
But to attract such malls, Florida officials must offer incentives to manufacturers. They can offer tax waivers for facilities in order for these manufacturers to bring down the price of their products further and encourage purchase by tourists.
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