The Economics of Tourism

I worked as a server for a bit, after leaving Apple. It felt like High School all over again, when we gathered in the dining room before the shift started.

It was the height of summer, so a lot of tourists were walking through our English Bay doors, facing the Ocean, and those ridiculous laughing statues gifted by the Lululemon guy.

"Most of our customers coming in are tourists," the manager said, "but we have to treat the locals really well, they get us through those quieter winter months"

Notwithstanding the fact that they were seen simply as bags of money, the Local Economy, is really different than the Tourist Economy.

Think about your local coffee shop that you frequent. You know how to value it, because you've been before. You know it's good.

But imagine you're a tourist walking through the same neighbourhood. You have absolutely no idea. Except if it 'looks good', 'is kinda busy', 'has some reviews'.

But what if those reviews were by other tourists, just like you, lacking local knowledge of how bad that coffee shop really is.

So you walk around a bit. In utter confusion. Not knowing how to Value the Value of a cafe. Until you find a Starbucks.

You see. This is the value of a brand, because this Starbucks is halfway around the world, but for some reason, you see its Value, because you've been before.

But a lot of tourist traps absolutely never needed to provide a great service. Or meal. They simply had to, and still can for the large part since not everyone reads reviews. Provide really crappy service/ food/ experience <-- all of the above.

If you wanna make money in this world, create a tourist trap in your local town.

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