In conversation with...
In conversation with Renato Romanin, Senior Economic Development Officer, Niagara Economic Development Corporation
Every issue, editors at the Ontario Tourism Investment Communique will interview a key local contact to discuss the opportunities, challenges and outlook for the tourism sector in their region. For this issue, Renato Romanin, Senior Economic Development Officer at the Niagara Economic Development Corporation, discuses the tourism sector in the Niagara Region.
Q. Quick question - I'm an investor, interested in investing in tourism as a sector? Why would I choose to invest in the Niagara region?
A. On average, we receive 13 to 15 million visitors each year. No other place in Ontario can compete with that. So many visitors are already coming here, investing now would be a great idea. Being so close to the U.S. is also an advantage for us. About 70 per cent of our visitors are American. We are in a great location because we are within driving distance for many Canadians and Americans.
We also have the labour force. The tourism industry is the region's largest employer, with over 30,000 workers. The population of the Niagara region is also growing. This is a great advantage to us, because as the industry continues to grow, we will have enough workers to expand, and the people living in the region gravitate to these employment opportunities. This is the industry to invest in, and the Niagara region is the right place for investment.
Q. What opportunities do you see with the greatest potential for future returns?
A. I see a new focus on Niagara's entertainment sector. Similar to Las Vegas, we want the area known for its entertainment venues.
Clifton Hill is our entertainment district. The area includes the Ripley's Believe it or Not! Museum, the Great Canadian Midway, and Rumours Night Club. We're looking to expand the district and bring in more attractions. One of our newest venues is the Greg Frewin Theatre. Greg Frewin is a world-famous magician and has performed in many well-known venues, including Caesar's Palace in Las Vegas. In the future, we plan to see more and more venues like this come to Niagara.
The new Great Wolf Lodge also brings a certain style of entertainment. As a family resort, most of the events and activities cater to children. It's about learning and having fun. There's also the new Aquarium of Canada being built on the Great Wolf Lodge property, set to open in 2008.
Q. What's new in investments in the region?
A. There have been enormous investments in the tourism sector and the development of niche markets.
For example, Niagara-on-the-Lake targets a higher-income, higher-expectations crowd. It caters to that market by offering high-quality accommodations, various wineries, and entertainment options like The Shaw Festival.
In the past, Niagara Falls was a family destination with attractions for adults with children. Today, some accommodation properties in the area are becoming destinations, similar to properties in Las Vegas. For example, the Hilton plans to introduce a Tuscan theme for its guests. The goal for them is to be a destination within a destination.
The Niagara region has a competitive advantage because of the number of destinations we have, and how they can appeal to different tourist markets.
Q. Is there an obvious opportunity you see ready for growth?
A. The heritage and culture segment is the fastest growing area of interest, particularly with U.S. visitors, and we have the properties and attractions to capitalize on that. We've found that about 30 to 40 per cent of travelers from the U.S. find our heritage and culture appealing. We have such a great history, incorporating more heritage and cultural elements within our tourism offerings will pay dividends. We need to link it very closely with the winery segment.
For more information on tourism investment opportunities throughout Ontario, please visit: www.investinontario.com/tourism/regionalinvest.asp.