This report will discuss in detail the Business Improvement Districts (BID’s) across the country but will focus on Sunderland City Centre BID. The report will show how the reuse of historic buildings for a contemporary function is effective, and if the tools are being employed throughout cities all over the world to develop what is on offer in regards to tourism, events, leisure and hospitality.
Strategic visitor development and how it is approached will be identified and evaluated, rationale for industry planning will be expressed, application of the principles and practices strategies and the ability to draw on a range of approaches whilst formulating strategies that are appropriate to the industry. Finally drawing upon a working knowledge of practical constraints while planning strategically in a mixed economy in tourism.
A BID is a new form of private-public partnership that was developed over three decades ago through a realm of local governance now known as business improvement districts (BID). The BID model proliferated across North America, has
in recent years transferred to continents including Africa, Asia and Europe (Hoyt, L.and Gopal-Agge, 2007, pp. 946 - 949). Although it was adopted there was in fact no standardisation or definition for BIDs.
BIDs supplement public services within a particular geographical area which has been defined by boundaries that have been generated by multiyear revenue. There are several benefits of a BID these include; money that is acquired is only used in the area of the BID, increased footfall and retaining of staff, better environment, more events and the promotion of the area,cost reductions to businesses and decisions can be made and directed to what area they choose.