Irene lane what is the economic value roi of sustainable tourism

What is the Economic Value / ROI of Sustainable Tourism?

Case Study of the Irish Sustainable Tourism Industry Irene Lane, Founder of Greenloons

Consumers Crave “Green” Travel Choices

But, Is “Green” Good for Business?

ROI Model & Hypothesis • Water Conservation • Renewable Energy • Waste Management • Transportation • Air Quality • Marketing

• Recruiting • Hiring/Onboarding • Management • Productivity

• Outreach • Satisfaction Rates • Referral Revenue

Operational

Customer

Employee

Community • Product Portfolio • Biodiversity Conservation • Referral Revenue

Case Study of Sustainable Tourism in Ireland O In the last decade, Ireland has developed sustainable tourism standards, a

globally recognized eco-certification program, green travel marketing toolkits, and most recently, the Wild Atlantic Way touring route filled with agritourism food trails, naturalist-guided adventure activities and environmentally-conscious boutique hotels.

O While Fรกilte Ireland has provided some information to tourism

businesses about the criteria and importance of sustainable tourism, it has been difficult to discern its actual bottom line economic value to businesses, communities and the country.

O For our pilot project, we worked with businesses that were members of

Electric Escapes Ireland and Meath Ecotourism Network, and had a record of sustainable operations.

ROI for Sustainable Accommodations

O Operations ROI - most affected by the tax incentives (rebates) and

additional marketing capacity of a sustainable network O Community ROI - most affected by the development of community engagement and internship programs O Employee ROI - most affected by lower turnover O Customer ROI - most affected by the revenue from customer referrals and repeat customers

ROI for Guiding Companies

O ROI Operations - most affected by targeted online and offline

marketing materials that emphasized sustainability.

O Like Accommodations, Community ROI was most affected by the

development of community engagement and internship programs, Employee ROI was most affected by the increase in productivity though it was unclear whether it was due to low turnover or having a very small staff and Customer ROI was most affected by revenue from customer referrals and repeat customers.

Triple Bottom Line ROI Driver O Providing clear information to customers about what makes the

individual company sustainable and how it contributes to the overall customer’s better experience.

O If it’s easy for customers to understand, it will be easy for

customers to share why it’s important.

Sustainability Survey Highlights O What is the most important aspect of sustainable tourism to your

business?

Sustainability Survey Highlights O Rank the following aspects of sustainability in order of importance to

your business

Sustainability Survey Highlights O What aspects of sustainability appeal most to your customers?

Sustainability Survey Highlights O What resources do you feel your business needs access to in order to

become more successful with sustainable tourism?

Next Steps O Let’s Gather More Data!

O Moving ROI Data Collection Online O Assessing Other Geographic Regions for Additional Pilot Projects O Based on Initial Results, Emphasizing to Tourism Boards &

Certification Bodies the Long Term Drivers of Sustainability O Conduct Additional Surveys About Issues, Challenges & Barriers to

Eco-Certification

Thank you!

O Irene Lane – Founder, Greenloons

@GreenloonsEco

O www.greenloons.com O irene@greenloons.com O +1 877.570.7373