The Greater Washington Board of Trade, adjusting its activities and size to the slowdown in the local economy, said yesterday it will revive efforts to attract businesses to the Washington area.

The board also is undertaking an internal "restructuring" that could lead to the elimination of some of its 43 staff positions, officials said.

Just two years ago, the business umbrella organization ended tours for out-of-town executives and other promotional events it was sponsoring to entice firms to locate here. Officials said their efforts would be more directed toward alleviating the region's transportation crunch and housing and labor shortages.

The board's new three-year plan, adopted earlier this week and released yesterday, calls for a commitment "to increase business marketing and ... a reallocation of resources to increase funding for the effort."

"I think that it is obvious that there is a slowdown," said board President William B. Wrench. "We have to be sure that people are aware of the advantages we have. We take it for granted everybody knows about Washington, but someone about to expand can go to Houston, Dallas, Boston or San Francisco."

The board also will work with the Greater Washington Research Center, which studies economic trends in the area, to develop a regional economic indicator that will provide a statistical picture of the local economy.

As area companies in real estate, retailing, defense, finance and other industries have experienced declines in revenue and profits, some firms have cut costs -- including their membership in the board of trade. The group's $3 million budget for 1991 is several hundred thousand dollars less than the budget for 1990.

"We have to be realistic," said executive director John R. Tydings.

A structural reorganization designed to set new priorities and increase efficiency also could lead to staff reductions, according to board officials who asked not to be identified. Officials would not put a figure on the cutbacks.