Appendix 1—Excerpt from Economic
Regeneration Strategy
Priority 1 Repositioning the Visitor Offer and
the Leisure Economy
The overall vision for this strategy emphasizes
the need for changes in attitudes to the way in which Torbay has
"earned its living" in the past. This is nowhere more
important than in the area's visitor and leisure sector which
has long been the cornerstone of the economy. The strategy study
already notes that, although the size of the tourism industry
is notoriously difficult to quantify, South West Tourism estimates
that tourism expenditure in Torbay totalled £398m in 2003
and employed 13,388 people, supporting 25% of employment in Torbay.
However, Torbay is the only district in Devon
to have experienced a decline in bed nights during the last decade
and there are growing concerns that any further decline will affect
the viability of many tourism businesses within Torbay. Recent
performance in Torbay has been mixed with declining employment
in hotels and amusement parks but employment growth in bars, restaurants,
shops and leisure and recreation activities. This decline now
appears to have stabilised, and further growth in tourism in Devon
and Cornwall is projected but Torbay's core customer base has
an increasingly aging and less wealthy profile. This lack of higher
expenditure has stifled investment and this is the core concern
that the strategy must tackle.
Despite the maturity of the tourism industry
in Torbay there is significant underexploited potential, particularly
regarding opportunities in the marine leisure sector. Torbay needs
to maximize opportunities to build new markets with real volume
and value potential for the future as the tourism market in Devon
and Cornwall continues to grow. Torbay has the potential to benefit
from this growth but in the sector—which supports large
numbers of small businesses and has relatively low barriers to
entry with low investment levels—attitudes have been slow
to change. The most important change which the strategy seeks
to respond to is the need to attract a much broader base and longer
season of visitors including those coming for short breaks, business
visitors and, particularly, to attract those visiting with a specific
activity, leisure or other specialist purpose. Secondly the market
needs to recognise that "visitors" now include second
homers with an alternative leisure based lifestyle on weekends
and short breaks, retirees in earlier and more active retirement
with multiple homes which may be a source of income and those
seeking a business, second—or retirement home or a lifestyle
investment location. Those who make up the visitor and leisure
sector market now range through a continuous spectrum of tourists,
visitors, investors, retirees, multiple homers and residents seeking
the leisure lifestyle opportunities which Torbay can provide.
The analysis also shows that the retail sector
continues to grow and, together with bars and restaurants, Torbay's
three town centres and specialist shopping areas make an important
contribution to the visitor offer. The recent Torbay Retail Study
however shows that there is a growing threat to the strength of
high value comparison and specialist shopping in Torquay, and
in Paignton and Brixham, from new retail development in Exeter,
Plymouth and Newton Abbot.
Even to maintain a "constant market share"
in these centres investment in new floorspace and improvements
in the existing shopping environment are required, such investments
would be well supported by raising skill levels in existing employees
as well as educating potential new entrants of the opportunities
available within the retail trade.
This theme therefore identifies a range of seven
interlinked priorities which make up an important agenda for change
in this ever widening sector.
P1.1—Redirecting Torbay's tourism offer for
greater value to the economy
P1.2—Maritime Leisure—Leading the way
P1.3—Investing in leisure for visitors and
residents
P1.35—Securing the Potential of Torbay's culture
and heritage
P1.5—Marketing Torbay to visitors and residents
P1.6—Capturing the Value of "Third-Age"
investment and expenditure
P1.7—Improving Torbay's retail offer
March 2008
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