​Module 1: Introduction to tourism investment attraction

Tourism investment attraction is the process of planning and taking action to attract new business investment in the visitor economy.

It is more than promotion or marketing. It is about creating the right conditions for investment to succeed. This includes:

• Creating an inventory of existing tourism assets, such as hotels and event venues, and experiences, such as culinary, cultural, and recreational offerings
• Identifying gaps in tourism offerings and highlighting what makes the community competitive
• Understanding and clearly communicating business opportunities, partnerships, and long‑term tourism development goals
• Supporting investment through zoning, infrastructure, and partnerships
• Telling a clear and compelling story that reflects both community values and investor interests

A strong tourism investment strategy helps a community decide which projects are viable and competitive. It also guides how investment opportunities are packaged and promoted.

Tourism investment supports community well‑being and long‑term success. It helps communities:

• Create local jobs and support small businesses
• Improve infrastructure and public amenities
• Protect cultural identity and natural assets
• Attract new residents, talent, and entrepreneurs
• Build community pride and visibility

Unlike many other sectors, tourism investment supports economic growth and strengthens culture, protects the environment, and improves quality of life. Investment in tourism often improves services and recreational opportunities used by both residents and visitors.

Without ongoing investment, communities may face economic stagnation and fewer opportunities. Strong tourism investment can improve resilience, strengthen social and cultural connections, and support long‑term prosperity.

Tourism investment is not just an economic tool. It’s a community development strategy that benefits residents and visitors alike.

Tourism investment attraction shares some goals with general economic development, such as creating jobs and attracting new businesses. However, it has several unique features.

It focuses on visitors

Tourism investment supports activities and facilities that attract visitors. This requires understanding visitor behaviour, destination branding, cultural identity, seasonality, and sustainability.

It relies on sense of place and storytelling

Investors are drawn to communities with a clear identity and story. Tourism investment highlights what makes a place unique—its history, culture, landscape, and people.

It benefits residents and visitors

Tourism infrastructure such as trails, signage, public spaces, and broadband is often used by residents as well as visitors. Well‑planned tourism investment can improve quality of life while supporting economic goals.

It depends on collaboration

Tourism investment attraction works best when communities collaborate across sectors and regions. This includes working with local businesses, neighbouring communities, cultural and heritage organizations, and all levels of government.

Tourism investment is most effective when Economic Development Officers (EDOs) and Destination Management Organizations (DMOs) work together. EDOs bring expertise in investment processes, regulation, and infrastructure. DMOs bring knowledge of the tourism industry, visitor markets, and long‑term destination strategy.

Note: Not all communities have dedicated EDOs. References to EDOs include any organizations or staff responsible for economic development functions.

​Tourism investment attraction is strongest when EDOs and DMOs work closely together. While these roles are often separate, their goals are closely linked.

Effective tourism investment requires both:

• Economic development expertise to guide investment decisions, planning, and infrastructure, and
• Tourism expertise to understand visitors, destination branding, and long‑term opportunity

Five ways to strengthen collaboration include:

Work toward shared goals

Both EDOs and DMOs serve the same communities or regions. Look for shared priorities and gaps in strategies. Regular check‑ins and joint planning sessions help align efforts and avoid duplication.

Align destination branding

DMOs promote destinations to visitors, while EDOs promote communities to investors. These messages should support each other. A consistent story helps position a community as a place to visit, live, and invest.

Focus on infrastructure

Strong tourism and economic development depend on good infrastructure. Issues such as roads, airports, broadband, and signage affect visitor experience and investor confidence. Working together to advocate for improvements benefits residents, businesses, and visitors.

Make the most of events

Events such as sports tournaments, festivals, and conferences bring visitors, talent, and investment to communities. EDOs and DMOs can work together to maximize both tourism and long‑term economic benefits.

Use storytelling to promote place

Storytelling helps attract both visitors and investors. Share stories that reflect local identity, values, and future goals. Include Indigenous voices and perspectives to ensure authenticity and inclusivity.