Resonance Consultancy's latest research on the place based factors that attract international tourists and foreign direct investment as presented at the Institute of Place Management Biennial conference.

1. @ResonanceCo
PLACE & PROSPERITY
RESONANCE

2. @ResonanceCo @crfair
Resonance Consultancy is a global
advisor on real estate, tourism and
economic development for countries,
cities and communities around the world.
ABOUT US

3. @ResonanceCo @crfair
// Vancouver Tourism Master Plan
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// Ireland South & East Brand Strategy
// Tulsa Destination Development Strategy
// Portland Tourism Master Plan
// Bermuda Destination Assessment
// Calgary Urban Revitalization
// U.S. Virgin Islands Brand Strategy
RECENT PROJECTS

4. @ResonanceCo
What are the factors that shape our perception of
place and attract tourism and investment to a city?
THE POWER OF PLACE

5. R E S O N A N C E C O . C O M @ C R FA I RR E S O N A N C E C O . C O M @ C R FA I R
WHAT MILLENNIALS
WANT INA CITY
TO LIVE
R E S O N A N C E C O . C O M @ C R FA I R

6. MOST IMPORTANT FACTORSWHEN EVALUATINGA CITYAS POTENTIAL PLACETO LIVE
Base: All respondents (n=1,548)
C2. How important would you rank each of the following factors when evaluating a city as a potential place to live?
Crime and safety
Job opportunities
Affordability and availability of housing
Average time to commute to work
Quality of K-12 schools
Quality of the natural environment
Average wages and household income
Quality of parks and outdoor recreation
Favourable climate and number of sunny days
Proximity to hospitals/healthcare services
Quality and number of restaurants
Quality and variety of shopping
Quality of cultural attractions 32%
33%
37%
38%
40%
40%
41%
41%
43%
43%
55%
55%
60%
18%
17%
20%
21%
22%
23%
24%
25%
26%
26%
35%
35%
42%
10 – Extremely important 9

7. MOST IMPORTANT FACTORSWHEN EVALUATINGA CITYAS POTENTIAL PLACETO LIVE (CONTINUED)
7
Base: All respondents (n=1,548)
C2. How important would you rank each of the following factors when evaluating a city as a potential place to live?
Interesting character neighborhoods
Number of friends/family that live in the area
Ease of getting around using public transportation
Quality and variety of nightlife
Ethnic diversity of community
Number of destinations airport serves
Professional published ratings, reviews and rankings
Ratings, reviews in social media channels
Ranking and reputation of local university/college
Majority of residents share my political views
Majority of residents share my religious beliefs
Number of major league sports teams
Number of Fortune 500 companies 22%
22%
24%
25%
28%
28%
28%
28%
29%
29%
31%
32%
32%
11%
11%
12%
13%
14%
14%
14%
14%
16%
15%
17%
17%
17%
10 – Extremely important 9

8. R E S O N A N C E C O . C O M @ C R FA I R
WHATTHEY
WANT INA
VACATION
DESTINATION
R E S O N A N C E C O . C O M @ C R FA I R

9. Safety
Cost
English spoken
Quality of the natural environment/scenery
Number of fun attractions
Easily accessible by commercial flights
Opportunities to learn something new
Quality of parks/outdoor recreation
Good cultural attractions
Warm climate/weather
Exciting city environment
Close to beach, access to water
Iconic landmarks
KEY DECISION FACTORSWHEN DECIDING ONAVACATION DESTINATION
Base: All respondents (n=1,548)
A5. On a scale of 1-10, what are the most important factors you take into account when deciding on a vacation destination, with 1 being not important at all
and 10 being extremely important?
34%
35%
35%
36%
36%
37%
37%
38%
39%
42%
44%
52%
57%
18%
19%
19%
19%
19%
21%
21%
22%
23%
26%
26%
35%
39%
10 – Extremely important 9

10. Quality and number of restaurants
Ease of getting around using public transportation
All inclusive pricing
Online peer reviews and ratings
Passport not required to visit
Quality and variety of shopping
Cultural festivals and events
Off the beaten path location
Professional printed guidebook reviews
Social media postings by friends/family
Magazine/Newspaper articles
Sporting events 22%
22%
24%
24%
25%
28%
28%
29%
32%
34%
34%
34%
10%
11%
13%
11%
13%
15%
15%
18%
16%
19%
19%
18%
KEY DECISION FACTORSWHEN DECIDING ONAVACATION DESTINATION (CONTINUED)
Base: All respondents (n=1,548)
A5. On a scale of 1-10, what are the most important factors you take into account when deciding on a vacation destination, with 1 being not important at all
and 10 being extremely important?
10 – Extremely important 9

11. @ResonanceCo
ANALYSIS
// 27 factors grouped into six categories:
Place, Product, Programming, People,
Prosperity and Promotion
// 52 US cities with metropolitan populations
of more than one million

12. @ResonanceCo
PLACE
Weather National ClimaticWeather Centre
Crime rate Federal Bureau of Investigations
Neighbourhoods & Landmarks TripAdvisor
Parks & Outdoors TripAdvisor
Air Quality Index U.S. Environmental Protection Agency
Commute time to work American Community Survey 2011-15

13. @ResonanceCo
PRODUCT
University Ranking U.S. News &World Report
Connectivity Google Flights
Convention Centers Official Convention CenterWebsite
Entertainment TripAdvisor
Museums & Fine Arts Institutions TripAdvisor
Housing Affordability American Community Survey 2011-15

14. @ResonanceCo
PROGRAMMING
Restaurants & Culinary Experiences TripAdvisor
Shopping TripAdvisor
Nightlife TripAdvisor
Culture & Performing Arts TripAdvisor

15. @ResonanceCo
PEOPLE
Foreign-born residents American Community Survey 2011-15
Population that speaks a language other
than English
American Community Survey 2011-15
Educational Attainment American Community Survey 2011-15

16. @ResonanceCo
PROSPERITY
Fortune 500 companies Fortune
Median Household Income American Community Survey 2011-15
Unemployment Rate American Community Survey 2011-15

17. @ResonanceCo
PROMOTION
Google References Google
TripAdvisor Reviews TripAdvisor
Google Trends Google
Facebook check-ins Facebook

18. R E S O N A N C E C O . C O M @ C R FA I R
WHICH OFTHESE FACTORSARE
MOST CLOSELY CORRELATEDWITH
VISITORARRIVALS?
R E S O N A N C E C O . C O M @ C R FA I R

19. @ResonanceCo @crfair
INTERNATIONALVISITORS
Correlation Coefficient
PROMOTION 0.90
PROGRAMMING 0.82
PRODUCT 0.66
PLACE 0.61
PEOPLE 0.58
PROSPERITY 0.29

20. @ResonanceCo @crfair
INTERNATIONALVISITORS
Correlation Coefficient
Facebook Check-in 0.89
TripAdvisor Reviews 0.86
Google Trends 0.85
Neighbourhoods & Landmarks 0.82
Culinary 0.80
Culture 0.78
Google Search Results 0.78
Nightlife 0.78
Shopping 0.78
Museums 0.72

21. @ResonanceCo @crfair
R E S O N A N C E C O . C O M
WHICH OFTHESE FACTORSARE
MOST CLOSELY CORRELATEDWITH
FOREIGN INVESTMENT?

22. @ResonanceCo @crfair
FOREIGN DIRECT INVESTMENT
Correlation Coefficient
PROMOTION 0.85
PROGRAMMING 0.82
PRODUCT 0.79
PEOPLE 0.44
PLACE 0.35
PROSPERITY 0.29

23. @ResonanceCo @crfair
FOREIGN DIRECT INVESTMENT
Correlation Coefficient
Google Trends 0.91
Sports Teams 0.87
Facebook Check-in 0.87
Culinary 0.84
Google Search Results 0.83
Museums 0.81
Fortune 500 0.81
Neighbourhoods & Landmarks 0.78
Culture 0.77
Nightlife 0.77
Shopping 0.75

24. @ResonanceCo
While livability shapes identity, it has a low
correlation with visitor arrivals and foreign
investment.
The relative “vibrancy” of the city is determining
where tourism and investment flows.
PLACE & PROSPERITY

25. @ResonanceCo @crfair
0.83
0.82
0.78
0.64
0.56
GDP
International Visitors
FDI
# VC Deals
VC Investment
IS PLACEMAKINGA CATALYST FOR
ECONOMIC DEVELOPMENT?
Correlation with Neighbourhoods & Landmarks

26. @ResonanceCo
THANKYOU
Resonance Consultancy
Vancouver | New York
www.resonanceco.com
@resonanceco
Chris Fair, President
cfair@resonanceco.com
@crfair