It would also champion the development of new conference and events facilities to allow the region to compete for larger national conferences.
"Our cruise ship industry is growing. We already have another seven more ships booked to come to Tauranga than this season and we have hit a point where 50 per cent of those people are staying in Tauranga rather than the majority taking off to Rotorua as they did in the past."
Mr Arrowsmith said Tourism Bay of Plenty was also focusing on domestic tourists.
"That is what we are striving towards," he said.
"It is healthy to have ambitions, targets and we believe we have special things to offer. Things that we can sell to make up the $80 million shortfall so we can take that spot."
Northland Tourism Development Group chairman Jeroen Jongejans told the Bay of Plenty Times he "applauded the thought" but believed the Bay would "struggle to steal" Northland's top five position.
"I applaud their optimism and wish them well but I think they will struggle because Northland has everything," he said.
Mr Arrowsmith said if they did manage to knock Northland off their perch it would be in an "ethical way".
"New Zealand has to work together but we do believe we have a lot to offer," he said.
"Tourism makes up 10 per cent of our region's GDP which is pretty substantial considering the strength of the port and horticultural and forestry industries here but we want an even bigger return for ratepayers investment and we are determined to bump that figure up."