An explanation of economic impact: why positive impacts can exist for smaller sports

2016 ◽  
Vol 6 (2) ◽  
pp. 182-204 ◽  
Author(s):  
Nola Agha ◽  
Daniel A. Rascher
Keyword(s):  
Economic Impact ◽  
Impact Analysis ◽  
Economic Effects ◽  
Content Type ◽  
Sports Teams ◽  
Minor League Baseball ◽  
Positive Economic ◽  
Economic Impact Analysis ◽  
Explanatory Factors ◽  
Minor League

Purpose – The purpose of this paper is to understand why some sports show a positive economic impact and other sports do not, and to identify a common set of explanatory factors explaining the differences. Design/methodology/approach – This explanatory research reviews the economic impact literature to identify the underlying conditions that would theoretically allow any sport, large or small, to generate positive economic effects. Findings – Nine conditions are identified that, when present, could allow a community to experience a positive economic impact from a team or stadium. These are then used to explain the discrepancy in known empirical outcomes in major and minor league baseball (MiLB). It appears as if major league teams are more likely to violate the conditions than minor league teams. This research finds theoretical support for previous suggestions that smaller teams and events may be beneficial to local economies. In doing so, it also explains previous empirical results that found some MiLB classifications are associated with positive gains in per capita income. Practical implications – Stakeholders can use the nine conditions to understand expected economic impact of their relevant sports. This research provides a comprehensive guide to understanding when economic impact can be positive. Social implications – This research helps explain some of the existing controversy regarding economic impact analysis. Originality/value – It is the first research to help provide a pre-set of conditions that can help predict whether positive economic impact will occur for specific sports teams or stadium projects.

Economic assessment of special events: a perspective article

2019 ◽  
Vol 75 (1) ◽  
pp. 191-193 ◽  
Author(s):  
Larry Dwyer
Keyword(s):  
Economic Impact ◽  
Computable General Equilibrium ◽  
Best Practice ◽  
Impact Analysis ◽  
Cost Benefit Analysis ◽  
Economic Assessment ◽  
Important Conclusion ◽  
Content Type ◽  
Economic Impact Analysis ◽  
Special Events

Purpose This paper aims to provide a perspective on the economic assessment of special events. Design/methodology/approach Three main approaches to the economic evaluation of special events are distinguished. These are: standard economic impact analysis, computable general equilibrium modelling, and cost benefit analysis. An historical account of the use of these approaches is given together with a discussion of the advantages and limitations of each. Findings An important conclusion is that the evaluation of special events should go beyond economic impact analysis in favour of a more comprehensive “hybrid” assessment. Originality/value The paper puts event evaluation into perspective and points to a promising future direction of study. An expected outcome of the use of hybrid models is a narrowing of the divide between practitioners and theorists regarding best practice event evaluation to the benefit of all stakeholders.

Messina Hof Wine and Jazz Festival: An Economic Impact Analysis

2002 ◽  
Vol 8 (3) ◽  
pp. 273-279 ◽  
Author(s):  
Michele D. Brown ◽  
Turgut Var ◽  
Seokho Lee
Keyword(s):  
Economic Impact ◽  
Impact Analysis ◽  
Personal Income ◽  
Single Event ◽  
Positive Economic ◽  
Economic Impact Analysis ◽  
Expenditure Data ◽  
The Us ◽  
Us Dollar ◽  
Total Sales

The purpose of the study was to estimate the economic impact on Brazos County, Texas, of a proposed weekend Wine and Jazz Festival to be produced by Messina Hof Winery. An economic impact analysis was performed using IMPLAN PRO software. The 1998 value of the US dollar and average weekend festival visitor expenditure data from Messina Hof Winery were used as inputs into the model. The results indicated that this single event would generate $892,981 in total sales output, $324,942 in personal income and the equivalent of 21.8 jobs. The conclusion was that the weekend Wine and Jazz Festival proposed by Messina Hof Winery would have a significant positive economic impact on Brazos County.

Comparing approaches to economic impact analysis of property redevelopment

2015 ◽  
Vol 33 (4) ◽  
pp. 362-373
Author(s):  
Christopher Hannum
Keyword(s):  
Real Estate ◽  
Economic Impact ◽  
Computable General Equilibrium ◽  
Impact Analysis ◽  
Property Development ◽  
Content Type ◽  
Economic Impact Analysis ◽  
Mixed Use ◽  
Cge Modeling ◽  
Construction Activity

Purpose – The purpose of this paper is to demonstrate the value of computable general equilibrium (CGE) modeling for impact analysis of real estate developments and redevelopments. Design/methodology/approach – Uses a model constructed for Colorado to compare estimates of economic impact of a hypothetical mixed-use development from a CGE model with an input-output (IO) model similar to those commonly used in applied economic impact analysis. Findings – Economic impact estimates of construction activity are demonstrated to be lower when using a CGE approach as compared to an IO approach while impact estimates of continuing operations of a property are demonstrated to be more accurate and potentially higher using a CGE approach. Practical implications – A CGE approach as opposed to an IO approach will be particularly useful for practitioners in particular cases where IO models are ill suited to provide meaningful estimates concerning impact of continuing operations. This is especially likely where commercial tenants are unknown or when the development includes a residential component. Social implications – More complete and accurate assessments of economic impact may positively affect views on property development and redevelopment by the public and government. Originality/value – This paper adds to the existing literature concerning economic impact analysis of real estate and is the first paper in the field, to the authors’ knowledge; to compare estimates from the standard IO approach to those derived using more sophisticated modeling techniques.

A Primer on the Assessment of Economic Impacts of Leisure Events

2020 ◽  
Vol 24 (1) ◽  
pp. 47-56
Author(s):  
Ove Oklevik ◽  
Grzegorz Kwiatkowski ◽  
Mona Kristin Nytun ◽  
Helene Maristuen
Keyword(s):  
Impact Assessment ◽  
Economic Impact ◽  
Study Design ◽  
Impact Analysis ◽  
Sensitivity Analyses ◽  
Primary Data ◽  
Music Festival ◽  
Economic Impact Analysis ◽  
Economic Impact Assessment ◽  
Input Variables

The quality of any economic impact assessment largely depends on the adequacy of the input variables and chosen assumptions. This article presents a direct economic impact assessment of a music festival hosted in Norway and sensitivity analyses of two study design assumptions: estimated number of attendees and chosen definition (size) of the affected area. Empirically, the article draws on a state-of-the-art framework of an economic impact analysis and uses primary data from 471 event attendees. The results show that, first, an economic impact analysis is a complex task that requires high precision in assessing different monetary flows entering and leaving the host region, and second, the study design assumptions exert a tremendous influence on the final estimation. Accordingly, the study offers a fertile agenda for local destination marketing organizers and event managers on how to conduct reliable economic impact assessments and explains which elements of such analyses are particularly important for final estimations.

Distributed Photovoltaic Economic Impact Analysis in Indonesia

2020 ◽  
Author(s):  
Carishma Gokhale-Welch ◽  
James McCall ◽  
David Keyser ◽  
Alexandra Aznar ◽  
Dr. Darghouth
Keyword(s):  
Economic Impact ◽  
Impact Analysis ◽  
Economic Impact Analysis

scholarly journals Territorial Marketing Applied to Cultural Tourism: Assessment of Cultural Event Impacts

2014 ◽  
Vol 11 ◽  
pp. 585-593 ◽  
Author(s):  
Claudia Ventura
Keyword(s):  
Economic Impact ◽  
Impact Analysis ◽  
Research Work ◽  
Cultural Tourism ◽  
Regional Studies ◽  
Input Output ◽  
Territorial Development ◽  
Event Marketing ◽  
Economic Impact Analysis ◽  
Territorial Marketing

Event Marketing and Regional Studies are widely considered discipline with still uncertain and not fully defined contours. In order to highlight the extent and the relevance of developing researches into these fields, it is proposed here a study able to demonstrate the operational validity of marketing in favor territorial development. The research work has addressed the issues of territorial promotion and analysis of touristic attitude of destinations providing an innovative application of the input-output methodology, used in the economic impact analysis.

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