ECONOMIC IMPACT OF TOURISM EVENTS Economic Impact Reporting

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) – For reporting of event-specific economic impact, use formulas on following pages OR State Event Impact Calculator (Coming Soon)

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… • Be consistent!

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

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

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

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)

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