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Economic Impact of Tourism Events

Economic Impact of Tourism Events. Economic Impact Reporting. Use State Tourism Office Resources: For reporting of Total Economic Impact of Tourism (Statewide & By County), use current 2011 research from IHG (Global Insights)

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Economic Impact of Tourism Events

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  1. Economic Impact of Tourism Events

  2. Economic Impact Reporting • Use State Tourism Office Resources: • For reporting of Total Economic Impact of Tourism (Statewide & By County), use current 2011 research from IHG (Global Insights) • For reporting of event-specific economic impact, use formulas on following pages OR State Event Impact Calculator (Coming Soon)

  3. How to Measure Economic Impact of Local Events • Formulas follow for these types of events • Conventions & Meetings • Motorcoach Tours • Public Events • Youth Sports • Use these formulas or what you have traditionally used, but… • Beconsistent!

  4. Conventions & Meetings • Room nights X dollars per day or • Room nights X guests/room X dollars per day • $200 per day example calculation (range is $157-266): • Lodging $75 • Food/Meals $50 • Transportation $25 • Shopping $40 • Amusements $20

  5. Motorcoach Day Trips • Passengers X dollars per day • $60 per day example calculation (range is $50-100) • Food/Meals $15 • Transportation $5 • Shopping $20 • Amusements $20

  6. Motorcoach Overnight • Passengers X # of days X dollars per day • $120 per day example calculation (range is $100-140): • Lodging $40 • Food/Meals $30 • Transportation $10 • Shopping $20 • Amusements $20

  7. Events • # of out-of-town attendees X dollars per day + # of vendor rooms X dollars per day • Out-of-town attendees as percentage of total (range is 8-20% depending on type of event and your location); visitors are usually defined as travel more than 50 miles • Dollars per day (assume similar to motorcoach, weighted for overnight/day trip)

  8. Youth Sports • Number of rooms X dollars per day per room or participants X dollars per day • Example - $250 per day per room (four persons per room) • Example - $100 per day per participant • Can be adapted for adult sporting events based on activities

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