Why Ireland Sees The Experience Economy As Its Future – And You Should Too

As economies around the world begin to tentatively reemerge from the impacts of the pandemic, they’re left with the question of how best to revive and build towards a better future. And for Ibec, Ireland’s largest lobby and business representative group, a key part of their post-Covid “Reimagine and Reboot” campaign is, you’ve guessed it, the Experience Economy.

The purpose of this campaign is to create the conditions for the Experience Economy to achieve world-class potential that is sustainable and uniquely Irish by:

– Creating a contemporary narrative and definition for the Experience Economy.
– Educating all stakeholders about its reach and value.
– Lobbying for the status and investment in the Experience Economy and ecosystem.

So says the headline of this campaign to “bring a contemporary understanding to Ireland’s Experience Economy”. It also clearly explains what the Experience Economy and its benefits are for an audience who still might not understand the term:

The Experience Economy encompasses hospitality, retail, travel, food, drink, tourism, entertainment, technology, events and organisations in the arts, cultural, sporting and heritage sectors. It reaches deep into the supply chain, supporting business and employment and encompassing many hard-to-reach but critical elements of the economy and society: young people, small medium enterprises, and regional and rural development, with real, tangible benefits for the Shared Island.

…and underlining the business and economic benefits to be had from engaging with it:

The Experience Economy is the linchpin for our business model, making Ireland a great place to live, work and invest. Every business has a stake and Covid has accelerated the need to ensure that the Experience Economy is reimagined to create the conditions for it to be world class.

The campaign goes on to tie the different elements of the Experience Economy to Ireland’s unique offering – landscape, folklore, literature, music, festivals, sport – as well as emphasising that 1 in 5 people on the Shared Island (Republic of Ireland and Northern Ireland) work in the Experience Economy. It ends by offering practical, actionable demands for how to Bounce Back, Put People First and Fire-Power Product, Marketing and Digitalisation. Here’s a video outlining the campaign aims:

This is interesting because it shows how seriously they’re taking the Experience Economy in Ireland, even if this is a lobbying group rather than actual governmental policy. This kind of strategy could be applicable anywhere, and shows that in the wake of the pandemic there’s a lot of potential and opportunity for those willing to invest in its narrative and implementation.

So perhaps it’s time to ask, if your government isn’t doing something similar, why not? And how could you lobby for the same sort of change…?