Using the PEST framework, the company Destination NSW can be critically evaluated and the aspects of the Marco environment affecting the business described. These aspects include political, economic, social/cultural and technological factors. During this report, there will be a focus on economic and political aspects as they are most relatable in the tourism industry.
Destination NSW is a state agency set up by the Australian Government to promote tourism in Sydney and regional NSW. With a plan to double visitor expenditure by 2020 and build the biggest events calendar in Australia – Destination NSW is at the forefront of the tourism sector in Australia. It has a large government funding backing and a vision to be successful.

Destination NSW supports the Australian economy at large purely by the huge amount of revenue it generates from NSW every year. ‘Visitor Economy’ is the term used to describe the businesses and communities that benefit from the economic activity generated by visitors. In June 2014, 29.7 million visitors were welcomed into New South Wales, which is more than any other Australian state or territory. The visitor economy contributes $28.1 billion to the State’s economy and supports 158,000 direct jobs (Destination NSW Annual Report, 2013/2014).
One macro environmental economic factor that will have a negative influence on Destination NSW is that tourism is not essential or a necessary. In fact it is for leisure and businesses that sell leisure or luxury products such as holidays, or special events like music festivals tend to suffer during low economic times more than companies that sell something consumers need e.g. bread or milk. Tourism is a want – it is assumed that people want to go on holidays, they want to escape and explore, but when the economy is down and people have less income such as during periods like the Global Financial Crisis, it is the companies that are supported by consumers ‘savings’ that are hit hard. This not only applies to Australian’s economy stability but also the stability of the international countries that our tourists are arriving from.
Another economic factor is the Australian dollar. Based off the 2013/2014 financial year, the Australian dollar has dropped in value over the last couple of years making Australia a cheaper holiday destination than in previous years, especially for tourists coming from Europe, the UK or America (Destination NSW Annual Report, 2013/2014).
Technological factors play a part in the macro environment of tourism. Tourism is a competitive industry and people are constantly looking for the best, brightest and cheapest way to travel. Technological advancements could massively help a company like Destination NSW with having a competitive advantage. Destination NSW has to develop cost efficiencies to keep up with the game. One of the biggest macro challenges in keeping up with ever changing technology. The tourism industry must invest in new technology, push social media engagement and be innovative in creating user-friendly websites and mobile applications. The easier the information is for consumers to access the more likely they are to educate themselves with the product or company’s services.
Socio/cultural environment – demographic change, the youth market, changing lifestyles and living patterns.
Potential opportunities and threats.
Conclude.

Reference List:
Destination NSW,. (2015). Destination NSW Annual Report 2013/2014 (p. 7). Retrieved from http://www.destinationnsw.com.au/wp-content/uploads/2011/10/Destination-NSW-Annual-Report-2013-2014.pdf