The Travel Economic Impact Calculator

U.S. Travel Association (the national, non-profit organization representing and advocating for all components of the travel industry) in cooperation with MOST Programming (a custom software development company), in 2019 introduced a unique tool that changed the approach to the economic impact of changes in tourism and travel expenditures at the national, state, or city level.

The collaboration resulted in The Travel Economic Impact Calculator (TEIC), developed by the MOST Programming team, specializing in data visualization, business intelligence, and data analytics. You can check detailed report by checking this link https://most-us.com/portfolio/calculator

TEIC need was obvious in 2019, when the economy, in particular the tourism sector, suffered significantly, and also had to adapt to inevitable changes against the backdrop of a global pandemic.

The TEIC tool is a simulator that can predict changes in spending by travelers at different levels. Based on the percent of travel spending changes Calculator can estimate the amount of travel employment, travel payroll, travel states & local taxes. And the most exciting thing is that it can even predict the amount of new public sectors jobs, such as law enforcement, fire fighting, police officers, and teachers.

Travel professionals and policymakers were involved in the development process, to use current and future indicators for the most accurate prediction. For example, in 2019 TEIC highlights the economic effect of tourism previous to the COVID-19 pandemic and the capability of monetary consequences of adjustments to that stage of spending.

A simple interface allows one to use the tool without any programming skills, which makes it as convenient as possible. At the same time, TEIC accurately predicts extensive economic changes based on insignificant initial data. The impact is measured in part by tax shifts and jobs created or lost, even as granularly as isolating jobs.

The custom calculator correctly predicts the based on fluctuations in travel expenditures and tourism, permitting tour enterprise specialists and policymakers to recognize and reveal the impact of positive enterprise-associated decisions.

To date, a separate destination-level TEIC, powered by the Destinations Council, offers city, local and regional destination marketing organizations the opportunity to understand the economic impact when travel grows or contracts more specifically in their jurisdiction.