The Bend Visitor & Convention Bureau has announced creation of the “Bend Tourism Index.”
The intent of this index is to quantify the health of Bend’s tourism economy. The Bend VCB will provide the Bend Tourism Index each month.
“The Bend VCB has created a Tourism Index that uses 20 businesses in four economic sectors,” said Jim Kress, Business Department Chair with Central Oregon Community College.
“This index represents an improvement of the previous room tax indicator because it more accurately reflects the seasonality and dynamics of the industry,” Kress said. “While the sample size is small, it does represent a wider range of businesses in the tourism industry.”
January 2004 Analysis
The Bend Tourism Index shows the cyclical nature to Bend’s tourism economy. January’s 2004 activity was 66% (662) of August 2003 (1000) activity but down from December of 2003 (779).
Comparing last year to the current index, January tourism activity increased 4.1 percent (662/636-1) from last year. Thus, the year-to-year growth in Bend’s tourism industry is positive.
In conclusion, Bend’s tourism economy is down from the summer high, but continues to perform better than last year.
The Bend VCB would like to recognize the Bend Tourism Index participants
Bend Riverside Motel
Holiday Inn Express Hotel & Suites
Mount Bachelor Village Resort
Ernesto’s Italian Restaurant
Merenda Restaurant and Wine Bar
Westside Bakery & Cafe
Mirror Pond Gallery
Pine Mountain Sports
Cascade Theatrical Company
Des Chutes Historical Museum
Sun Country Tours
Sun Mountain Fun Center
Prior to releasing the Bend Tourism Index, the VCB compared the report with outside sources like the Transient Room Tax and found that they trended the same direction and close to the same magnitude. Over time, the VCB will expand the number of participants in the Index to ensure its accuracy.
We selected five businesses from the four major tourism sectors: lodging, restaurants, retail, and activities/attractions. We ask these 20 businesses for their month-to-month revenue change and their year-to-year revenue change. We weight each business within their sector, and then weight the individual sectors based on Deschutes County tourism data obtained from the Oregon Tourism Commission.
August 2003 is the baseline, and the August 2003 index is set to equal 1,000. For each succeeding month, the Index measures the level of Tourism activity in Bend. The Last Year Index measures the Bend tourism economy in the prior year.