Tourist Attraction Analysis Report

Table of contents

Introduction…………………………………………………………………………3

An Overview of the Tiger Island………………………………………………….….3

Major Environmental Trends, Opportunities and Challenges Facing Tiger Island……..3

4.0 Key target market for Tiger Island …………………………………………………….4

Market trends affecting that market……………………………………………………5

Summary Analysis ……………………………………………………………………..5

6.0 Recommendations……………………………………………………………………..6

Focus on Given Segments of Visitors……………………………………………6

6.2 Provide a Range of Products/Attractions………………………………………..6

Improve on Product/Attraction Uniqueness………………………………………6

Destination image building to increase the Attraction’s appeal………………….6

6.5Fine –tune products due to the dynamic tourism market…………………………6

6.6 Conduct Regular Research………………………………………………………..7

7.0 Conclusion………………………………………………………………………………..7

8.0 References……………………………………………………………………………….8

Introduction

Tourism is without a doubt a key industry within the Australian economy, representing about 2.5% of its GDP (ABS, 2013).A key component of any nation’s tourism industry is usually the attractions, which play a significant part in tourism development. Australia is endowed with unique attractions that definitely form a key component of its tourism industry. This particular paper provides an analysis of the tiger island, a unique wildlife attraction site found at the Dreamworld amusement park, Gold Coast, Australia.

An Overview of Tiger Island

Tiger Island is a wildlife attraction located at the Australia’s Dreamworld amusement Park, Gold Coast, Australia. The attraction exhibits various sites where various tiger species, including the Sumatran and the Bengal, live, swim as well as play (Dreamworld.com, 2014).

Major Environmental Trends, Opportunities and Challenges Facing the Tiger Island

According to Leask (2010), touristattractionsitessuchasthetigerisland are sensitive to various factors that bring about changes not only to the local entertainment spending but also the international tourists’ arrivals. Consequently, owing to various adverse influences on the household discretionary income growth, the business demand has generally weakened over the last few years. According to IBISWorld (2014), the industry (the amusement park operations industry) is going through turbulent times driven by the uneven economic situations; the serious discounting to attract new tourists and the latest Queensland floods. Consumer spending is thus under extreme pressure owing to increasing housing costs with competition from the substitute entertainment industries and services also putting pressure on the industry operators leading to a reduction of not only margins but profits as well.

Despite the industry having been negatively impacted on by the various adverse influences including the global financial crisis in the year 2009, the industry entered into a stage of recuperation in the year 2011 and the year 2012.Looking forward, IBISWorld (2014) highlights that there are hopes that market growth will be revived by the rising levels of the disposable incomes, the increasing consumer expenditure on leisure and the rising popularity of mass entertainment. A growing category of middle class households in Australia is also bound to drive the demand.

Key target market

According to Tsiotsou & Goldsmith (2012), a target market is basically a limited group of consumers or customers to whom a business directs its marketing efforts. The target market for the Tiger Island ought to be the international tourists. According to the IMETT Group (2012), latest statistics recorded between 1998-2009 indicate that the international tourists’ percentage has been declining drastically from 31 percent during the year 1988 to about 18 percent in the year 2009, with the actual number of the international tourists decreasing from an approximated number of 320,000 during the year 1998 to about 237,900 in the year 2009.

Financial Year International visitor Inter-state visitors Intra-state visitors

2009 18 36 46

2008 18 37 45

2007 20 39 41

2006 20 39 41

2005 22 37 41

2004 22 39 39

2003 21 39 40

2002 26 37 37

2001 31 31 37

2000 30 35 35

1999 30 34 36

1998 31 32 37

Figure 1: visitor mix recorded between 1998 and 2009

Market trends affecting that market

According to IMETT Group (2012), with the rapid increase in the resident population of Gold Coast, Queensland, the expectation was that there would be a substantial rise in terms of the numbers of tourists visiting the available theme parks. However, the numbers have actually remained between 1 million and 1.5 million tourists annually a couple of decades ago. Growth in inter-state tourists has mainly softened owing to perceptions that nothing much has changed.

While many Australians appreciate that there has been significant re-investments as witnessed through rides and other attractions at the theme park, they argue that a lot ought to be done to put the destination among their list of “must visit” destinations. The decline of the international tourists, similarly, appears to be linked with the growth of newer theme parks within the Asian continent, especially those having international brand names.

Summary Analysis

Just like any amusement park, Tiger Island is also sensitive to various factors that affect consumer spending on amusement. However, there are hopes that market growth will be revived owing to rising disposable income levels, the increasing consumer expenditure on leisure and the rising popularity of mass entertainment.

Recommendations

Focus on Given Segments of Visitors

Dreamworld amusement park appears to be having issues with the international category of tourist as seen through the low statistical percentages and actual numbers. The business ought to increase focus on marketing strategies relating to this particular group of visitors to attract an increased number.

Provide a Range of Products/Attractions

It is inevitable that the tiger island provide new or more headline theme park products to increase its number of visitors coming to see its various attractions. These will not only be able to invigorate its tourist offering but will as well draw attention to it as a “must visit” destination (Pikkemaat & Schuckert, 2007).

Improve on Product/Attraction Uniqueness

It is inevitable that the tiger island focuses not only on offering products but also experiences and attractions that are clearly-defined in order to create uniqueness against its competitors.

Destination image building

Promotion and publicity of the Tiger Island ought to focus on its most striking features as well as associations and the image of this particular attraction not only be best built, but be strengthened as an ongoing process as well.

Fine –tune products

The management ought to redefine its products to match the changing needs of the ever-dynamic tourism market (Pride et.al, 2007).

Conduct regular Research

This is very important as it not only examines the product and services experiences of the consumers but also provides direction as regards what ought to be done to the business.

Conclusion

The above report has generally provided an analysis of the Tiger Island including the major environmental trends, opportunities and challenges facing this business; its key target market and marketing trends affecting the market.

References

Australian Bureau of Statistics (ABS).Tourism Satellite Account 2012-2013: Key Figures

Dreamworld.com (2014). Retrieved on the 12th May, 2014 from <http://www.dreamworld.com.au/Wildlife/Tiger-Island/Tiger-Island.aspx>

IBISWorld, 2014, Amusement Parks and Centers Operation in Australia: Market Research Report, Retrieved on the 12th May, 2014 from <http://www.ibisworld.com.au/industry/default.aspx?indid=665>

IMETT Group, 2012, Theme Park Report 2012, Report, Retrieved on the 12th May, 2014 from <http://www.imett.com.au/PDF/Documents/IMETT%20SEQ%20Theme%20Park%20Report%202012.pdf>

Leask, A. (2010).Progress in visitor Attraction Research: Towards More Effective Management, Tourism Management, (31), Pp.155–166

Pikkemaat, B & Schuckert (2007).M Success Factors of Theme Parks – An Exploratory Study, Journal on Tourism Preliminary Communication, Vol.55, Pp.197-208

Pride et.al (2007).Marketing Core Concepts & Applications, John Wiley & Sons

Tsiotsou, R & Goldsmith, R.E. (2012).Strategic Marketing in Tourism Services, Emerald Group Publishing