Council Could Spend Extra £340,000 On Tourism Over Five Years

The Isle of Wight Council could spend an extra £340,000 over five years on promoting tourism and supporting the Island’s visitor economy.

Councillors will consider whether to back the proposed third Wight Business Improvement District, or BID, for Visit Isle of Wight at a meeting next Tuesday (October 6).

The scheme would provide funding for destination marketing, tourism development and efforts to grow the visitor economy.

Council officers are recommending the authority supports the BID across all 40 of its eligible properties.

A report to councillors says the proposal would help secure the future of Visit Isle of Wight and maintain private sector investment in tourism.

It describes the organisation as an effective partnership between the public and private sectors, but warns that not backing the BID could reduce the resources available to promote the Island and lead to a less coordinated approach to tourism.

However, the report also highlights the increased financial commitment required from the council, meaning councillors will need to consider the potential economic benefits alongside the additional pressure on the authority’s budget.

The meeting of the Economy, Regeneration, Transport and Infrastructure Committee starts at 5pm on Tuesday.

It comes shortly after Visit Isle of Wight announced its chief executive Dominic Wray is stepping down after seven months, with a restructure of the organisation’s leadership also planned.