Al-Bazaar Study
As part of TAJ's strategy, there was a plan to rehabilitate one of the old markets (Bazaars) in order to create a new tourism attraction in the city. Within Bazaar areas, which are located inside the Old City walls, it is planned to have several facilities that will attract more tourists. These facilities include:
- A restaurant
- Palestinian traditional craft center
- Venue for cultural events
- Information center and a reception area
This preliminary feasibility analysis aims at:
- Defining and describing the target visitors that the Bazaar is planned to attract, in particular the incoming tourism towards the Bazaar, including key market segment, size and growth and analyzing all relevant factors.
- Investigating the capacity and rationale of the cluster members who are willing to rent space and participate in the Bazaar area.
- Analyzing the competitors, and demand and supply.
- Analyzing market trends, market growth, lifecycle and seasonality.
- Assessing the appropriate promotions needed to promote the Bazaar Area.
- Assessing critical risk factors that might affect the intended investment and the strategy to mitigate these factors.
- Estimating the proposed costs for establishing an operational Bazaar and related costs, along with an estimated time for the project completion.
- Coming up with a comprehensive financial analysis that includes a breakdown for the project cost, breakeven analysis, income statement, cash flow projections for 3 years, project returns, payback period and sensitivity analysis etc.
- Coming up with a comprehensive operational and management plan.
- Summarizing findings and recommendations.
