Economic Impact - Total Impact (TSA)
Total Economic Impact of Tourism in North Carolina - Tourism Satellite Account
The Tourism Satellite Account (TSA) is the official international standard for measuring the economic contribution of tourism. This methodology was developed by the World Tourism Organization and ratified by the United Nations in 2000.
The TSA for North Carolina provides credible measures of the contribution of travel and tourism to:
- Gross state product
- Government tax revenues
- And other measures.
The TSA approach is distinct from conventional economic impact analysis for several reasons:
- The TSA allows for true comparisons of tourism to other industries. The measures are consistent with the way other industries are measured.
- The TSA provides greater detail. Full detail of economic contribution by industry shows the composition of tourism. Detail on supporting industries shows how non-tourism industries benefit from tourism activity.
- The TSA is more comprehensive. By including all spending both by and on behalf of travelers, the TSA provides a complete picture of the demand and thus the supply related to tourism in the state.
- The TSA is more credible. By utilizing the international standard for measuring tourism's economic contribution, the TSA approach garners credibility. The U.S. Bureau of Economic Analysis utilizes this standard, thus providing a national benchmark.