How Long Does an Economic Impact Last? Tracking the Impact of a New Giant Panda Attraction at an Australian Zoo

2016 ◽  
Vol 56 (5) ◽  
pp. 613-624 ◽  
Author(s):  
Sally Driml ◽  
Roy Ballantyne ◽  
Jan Packer
Keyword(s):  
Economic Impact ◽  
Impact Analysis ◽  
Investment Decision ◽  
Economic Benefits ◽  
First Year ◽  
Giant Pandas ◽  
Economic Impact Analysis ◽  
One Year ◽  
Tourism Attractions ◽  
The Impact

A concerning issue with Economic Impact Analysis (EIA) is that many EIAs give results for one year, without being explicit about how long impacts are expected to last. New tourism attractions should not be assumed to provide continuing positive impacts into the future. For instance, the Giant Pandas at Adelaide Zoo generated a positive economic impact in their first year of residence (22% of a sample of tourists visited Adelaide “due to pandas,” additional tourism expenditure in the region was $27.7 million, with $2.3 to $4.6 million captured by the zoo); however, increased numbers visiting to see the pandas lasted only two years. Investment decision makers expected larger, longer-term economic benefits than eventuated, and the zoo experienced financial difficulties. This study provides advice for predictive EIA of new tourism attractions and prompts a call for tourism EIA studies to be explicit about the time period for which results are relevant.

The Impact of a Potential Public/Private Initiative on a Defined Region of the South Suburban Chicago Metropolitan Area

2019 ◽  
pp. 14-32
Keyword(s):  
Supply Chain ◽  
Economic Impact ◽  
Impact Analysis ◽  
Census Data ◽  
Economic Benefits ◽  
Local Economy ◽  
Market Area ◽  
State And Local ◽  
The University ◽  
The Impact

The university is considered one of the engines of growth in a local economy or its market area, since its direct contributions consist of 1) employment of faculty and staff, 2) services to students, and supply chain links vendors, all of which define the University’s Market area. Indirect contributions consist of those agents associated with the university in terms of community and civic events. Each of these activities represent economic benefits to their host communities and can be classified as the economic impact a university has on its local economy and whose spatial market area includes each of the above agents. In addition are the critical links to the University, which can be considered part of its Demand and Supply chain. This paper contributes to the field of Public/Private Impact Analysis, which is used to substantiate the social and economic benefits of cooperating for economic resources. We use Census data on Output of Goods and Services, Labor Income on Salaries, Wages and Benefits, Indirect State and Local Taxes, Property Tax Revenue, Population, and Inter-Industry to measure economic impact (Implan, 2016).

scholarly journals Economic Impact of Drought- and Shade-tolerant Bermudagrass Varieties

2018 ◽  
Vol 28 (1) ◽  
pp. 66-73 ◽  
Author(s):  
Chanjin Chung ◽  
Tracy A. Boyer ◽  
Marco Palma ◽  
Monika Ghimire
Keyword(s):  
Economic Impact ◽  
Impact Analysis ◽  
Cynodon Dactylon ◽  
Economic Impacts ◽  
Value Added ◽  
The United States ◽  
Economic Benefits ◽  
Total Output ◽  
Economic Impact Analysis ◽  
New Varieties

This study estimates potential economic impacts of developing drought- and shade-tolerant bermudagrass (Cynodon dactylon) turf varieties in five southern states: Texas, Florida, Georgia, Oklahoma, and North Carolina. First, estimates are provided for the market-level crop values of the newly developed two varieties for each state. Then, an economic impact analysis is conducted using an input–output model to assess additional output values (direct, indirect, and induced impacts), value added, and employment due to the new varieties. Our results indicate that the two new varieties would offer significant economic impacts for the central and eastern regions of the United States. Under the assumption of full adoption, the two new products would generate $142.4 million of total output, $91.3 million of value added, and 1258 new jobs. When a lower adoption rate is assumed at 20%, the expected economic impacts would generate $28.5 million of output, $18.3 million of value added, and 252 jobs in the region. Our findings quantify the potential economic benefits of development and adoption of new turfgrass varieties with desirable attributes for residential use. The findings suggest that researchers, producers, and policymakers continue their efforts to meet consumers’ needs, and in doing so, they will also reduce municipal water consumption in regions suited to bermudagrass varieties.

Economic Impact Analysis of Sports Facilities and Events: Eleven Sources of Misapplication

1995 ◽  
Vol 9 (1) ◽  
pp. 14-35 ◽  
Author(s):  
John L. Crompton
Keyword(s):  
Economic Impact ◽  
Household Income ◽  
Impact Analysis ◽  
Economic Benefits ◽  
Sports Facilities ◽  
Sports Events ◽  
Economic Impact Analysis ◽  
Public Subsidy ◽  
Public Scrutiny ◽  
Sector Funds

Many sports events, facilities, and franchises are subsidized either directly or indirectly by investments from public sector funds. The scarcity of tax dollars has led to growing public scrutiny of their allocation; in this environment there is likely to be an increased use of economic impact analysis to support public subsidy of these events. Many of these analyses report inaccurate results. In this paper, 11 major contributors to the inaccuracy are presented and discussed. They include the following: using sales instead of household income multipliers; misrepresenting employment multipliers; using incremental instead of normal multiplier coefficients; failing to accurately define the impacted-area; including local spectators; failing to exclude “time-switchers” and “casuals;” using “fudged” multiplier coefficients; claiming total instead of marginal economic benefits; confusing turnover and multiplier; omitting opportunity costs; and measuring only benefits while omitting costs.

scholarly journals ANALISIS DAMPAK PEMBANGUNAN SAMARINDA BARU (BSB) TERHADAP PROVINSI KALIMANTAN TIMUR

2018 ◽  
Vol 2 (2) ◽  
pp. 161
Author(s):  
Adisty Shabrina Nurqamarani, Faisal Reza
Keyword(s):  
Economic Impact ◽  
Impact Analysis ◽  
Local Community ◽  
Secondary Data ◽  
Learning Opportunities ◽  
Economic Benefits ◽  
Descriptive Research ◽  
Economic Impact Analysis ◽  
East Kalimantan ◽  
Research Stage

This is a descriptive research regarding economic impact analysis of APT Pranoto Airport or called “Bandara Samarinda Baru” in East Kalimantan region. The aim of the project was to provide the evidence on the economic benefits resulted from Samarinda Baru airport by applying economic impact analysis. This article primarily focused on expenditure impacts as well as brief information of non-pecuniary impacts of Samarinda Baru airport project during operational phase. At the research stage, the project focused on examining the previous literatures of economic impact studies at the same time as investigating reports on the Samarinda Baru airport. The project involved a strong element of analysis on academic literatures, reports from Dinas Perhubungan Kalimantan Timur and Unit Pengelola Bandar Udara (UPBU) Kalimantan Timur. The methodology applied input output approach based on multipliers and relies on secondary data collection as primary method. The findings showed that there are numerous economic and non economic benefits resulted from the development of Bandara Samarinda Baru, included increase employment of local workers, increase expenditure within the region which impacted to better money circulation within the region, and also increase learning opportunities and create positive image towards cities around the airport location which in turn to economic welfare throughout East Kalimantan province. This finding can be used to emphasize Samarinda Baru airport contribution to East Kalimantan region and support its development in gaining funding and acceptance from local community. 

Comparing Approaches for Valuing Economic Development Benefits of Transportation Projects

1998 ◽  
Vol 1649 (1) ◽  
pp. 86-94 ◽  
Author(s):  
Glen Weisbrod ◽  
Michael Grovak
Keyword(s):  
Decision Making ◽  
Economic Development ◽  
Economic Impact ◽  
Impact Analysis ◽  
Economic Benefits ◽  
Economic Impact Analysis ◽  
Transportation Projects ◽  
Using Data ◽  
Transportation Agencies

Transportation agencies often face uncertainty regarding how to define and assess the economic magnitude of benefits associated with alternative projects and programs. Alternative types of economic impact analysis are examined, using data from a highway study in Kentucky to explore (1) differences in the definitions of economic benefits inherent in the various types of analysis, (2) reasons for their differing findings on the value of benefits, and (3) issues affecting their interpretation and use in decision making.

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
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