The Economic Impact of Tourism Royal Borough of Windsor & Maidenhead 2005 Julia White 12 th June 2006

Economic Impact Study 2005 • Objectives of Study • Volume of Tourism • Value of Tourism • Economic Impact • Employment Sustained • Windsor Castle

Economic Impact Study 2005 Objective The study was undertaken by Tourism South East on behalf of the Royal Borough of Windsor & Maidenhead during 2005 using data from 2004. The study was last carried out in 2001 using data from 2000. Industry specific methodology known as the Cambridge Model was used to 1: Calculate the volume & value of day and staying visitors to the area.

2: Estimate the economic impact of this visitor spend in the local economy.

Economic Impact Study 2005 Volume of Tourism • 623,200 overnight trips • 76% domestic and 24% overseas visitors • 53% holiday, 25% business and 18% VFR • 14% decline in domestic overnight trips and 1% increase in overseas compared to 2001 • 2.27 million nights spent in RBWM • Overseas visitors average 6.6 nights • Domestic visitors average 3.9 nights • 6.7 million day trips • 6% increase compared to 2001

Economic Impact Study 2005 Value of Tourism • Staying visitor expenditure £156.2 million • 39% holiday, 38% business, 16% VFR • 24% increase since 2001 • Day trip expenditure £181 million • Based on average spend per trip of £27 • Total Visitor Expenditure £337 million • 28% domestic staying trips, 18% overseas staying trips and 54% day trips • Additional £11 million spent by friends & relatives with whom visitor is staying

Economic Impact Study 2005 Distribution of Visitor Spending • Accommodation • Shopping • Food & Drink • Entertainment • Travel • Total £55.9 million 17% £103.2 million 31% £101.7 million 30% £30.8 million 9% £45.5 million £337,329,000 13%

Economic Impact Study 2005 The presence of tourism activity within RBWM creates additional turnover for local businesses as a result of: • Visitors spending money in local businesses e.g. the hotel • The purchase of supplies and services locally by businesses in receipt of visitor spending e.g. hotel purchasing catering provisions • Spending of wages in businesses by employees whose jobs are directly and indirectly supported by visitor expenditure e.g. hotel staff

Economic Impact Study 2005 Total Local Business Turnover Supported by Tourism Activity • Direct Income • Supplier & Income induced • Total £330.3 million £114.2 million £444,587,000

Economic Impact Study 2005 Employment Sustained • Direct • Indirect 5,111 1,395 71% 19% • Induced 672 9% • Total actual employment related to tourism spending 7,178

Windsor Castle Its Value to the Borough • Nearly 1,000 years old • 1 of the UK’s top 20 Visitor Attractions • Windsor’s Unique Selling Point – the largest & oldest inhabited castle in the world • Just under 1 million visitors per year • The bedrock of the Borough’s visitor industry

Economic Impact Study 2005 • Copies of full report available on request • Full report published on www.windsor.gov.uk

• Questions to Julia White on 01753 743918 or [email protected]