We’re pleased to note that our own Sandra Stevenson was featured in a recent NIBA Insurance Adviser national industry magazine for her tourism and hospitality insurance expertise. See below for an excerpt with her comments from the article.
Small towns with big potential
The Australian Regional Tourism Network states that almost half of every dollar spent on tourism in Australia is spent in regional destinations. A lot of regional areas and towns are seeing growth and prosperity based on regular influx of tourists whether it’s for a certain season or for an event.
Sandra Stevenson from GS Insurance located in Trundle NSW says, “Tourism, travel and hospitality risks aren’t limited to the usual beach and winery destinations in Australia. Here in Trundle, NSW, our town grows by more than ten times its size for our annual ABBA Festival (6 May this year).”
She elaborates, “Also, our neighbours to the north, Tullamore, NSW, usually stages its Irish Music Festival at Easter. Events like these for regional Australian towns can make a huge difference to the financial wellbeing of the town and businesses within it, but there are also risks to be aware of that are associated with tourist drawcards like this.” One of the very real risks in Australia is a disaster or severe weather event occurring that prevents festivals like these from going ahead.
“A cancellation doesn’t just impact the event organisers, but it filters down to the local businesses as well,” says Stevenson.