A report by leading tourism expert Professor John Lennon, submitted as part of the planning application to P&K, reveals the major economic impact Meteor Property Fund’s redevelopment of Taymouth Castle Estate expects to have on the area.
The report highlights that the completed development could have a direct economic impact of £13.1 million per year, while an additional £18.4 million, would be created indirectly in the local and regional economy through increased tourism in the area.alt
Professor Lennon is the Director of the Moffat Centre for Travel and Tourism Business Development - the UK’s largest University based Market Research and Business Development Consultancy.
The professor was also the Principal Advisor to the Scottish Parliament’s Tourism Inquiry (2009-9) and was reappointed to Parliamentary Review of Recommendations in 2009-10. He has acted as an Independent Policy Advisor to VisitScotland (2003 - current) and is a Non Executive Director of Historic Scotland (2009 – current).
Martin Mortimer, Development Manager at Meteor commented: "Scotland has a thriving tourist industry and a development such as Taymouth Castle Estate will add to the attractive array of existing destinations. A survey by the Nation Brands Index (2012) found that both national and international tourists put spending a night in a Scottish Castle in the top three holiday activities.
"In addition, Visit Scotland recently highlighted that there is a shortage of high quality developments of the 5-star level. Once restored Taymouth Castle – with its stunning principal rooms – will be quite unique and will appeal to a vast range of tourists delivering a fantastic new destination in a section of the industry which is currently under-provided."
Workforce Evidence & Targets
A separate report compiled by GEN Consulting on The Economic Benefit of Resort Development, which was carried out in March 2009, showed the importance of tourism for Scotland highlighting that it generates approximately £4.2 billion and supports 9% of employment in the country. alt
The study looked at the economic benefits using examples from six existing resorts that are similar to Taymouth Castle Estate following its planned redevelopment. They were: the Atholl Palace, Pitlochry; Auchrannie Resort, Arran; Club La Costa Duchally Country Estate, nr Perth; Fairmont St Andrews; Gleneagles Golf Resort; and Westin Turnberry Resort, Ayrshire.
Although the leisure market has changed considerably since the report’s publication, it highlights the importance of tourism for the Scottish economy and gives us an understanding of the Estate’s future workforce.
Prof Lennon’s report provides evidence of the substantial benefits in terms of employment, emphasising that the completed development would generate a minimum of 139 core full time equivalent jobs. Based on figures from the GEN report approximately 7.5% of these are at a manager or senior manager level. It also shows that 55% of the jobs created will be held by local people.
It is predicted that a further 167 full time jobs will be created in the wider community as the number of new visitors to the area increases. This will provide the area’s economy with a step change in growth and quality of employment at a time of considerable hardship elsewhere in the country.
Mortimer concluded: "We have always felt that the scheme would provide a boost to the wider local area. The research highlights the uplift to the local economy and employment opportunities ensuring the development benefits Kenmore and the surrounding area both during construction and into the future."

 

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