A Comparison of Economic Impact Measurement Techniques for a Tourism Special Event

Abstract

The study’s purpose was to examine and update the research methods and measurement issues associated with assessing the economic impact (EI) of an extended duration, regional tourism event. Specifically examined were the issues with the implementation of EI studies in regard to further testing and re-verifying the methods used in (1) measuring a representative sample from an information-seeking/sharing web site and social media registration and engagement lists; (2) comparing locals and nonlocals within a region using different definition techniques; (3) examining the impact of VFRs within the local markets; and (4) comparing the estimation of purchasing within versus outside an impact area. Recommendations for further analysis and implementation for EI studies and the management of tourism special events are presented.

Events and Festivals Contribution for Local Sustainability

“…Regardless of the method used to evaluate economic impact, most authors [8,9,11,12] agree that local visitors should not be included in the analysis. Visitors can be divided into three categories: casual, those tourists who happened to be in the area and end up visiting the event; time-switcher, those who decided to visit the area at that time to attend the event but were already planning on going there regardless; and new, those for whom the event was the main motive to visit the area [13].…”

“…Therefore, the accuracy of the impact assessment is highly dependent on the quality of the collected data [11]. The representativeness of the sample is reinforced by Warnick et al [12] who also express their concern regarding overestimation and the application of inadequate measures and techniques to evaluate the impact of an event.…”

Event Market Segmentation: A Review Update and Research Agenda

“…Specifically, inclusion of geographic measures offers diagnostic information to inform targeting and communication efforts (Moscardo, Pearce, & Morrison, 2001). Economic impact measurement techniques incorporating various data collection methods are being produced (e.g., Warnick et al, 2017). Future research in event segmentation can calculate impact by segments identified to compare and contrast the contributions each segment delivers.…”

“…largely be due to the uniqueness of the dual language of Afrikaans and English exhibited by South African event attendees in their usual lifestyle. Conversely, the focus on the number of people paid for has been a variable focused upon by M. Kruger and Saayman, but not other event attendee segmentation researchers, which rather tend to focus on economic models (Herrero, Sanz, & Devesa, 2011;Warnick, Bojanic, & Cariter, 2017) as a basis for profiling attendees.…”

Utilizing trade market analysis to identify the economic impact of a multiday special event in Miami Beach, Florida

“…One new alternative theory presented to identify locals and tourists is trade market analysis (TMA). This theory of visitor selection utilizes geographic characteristics of the impact destination, shopping districts, drive time, and distance from the destination to distinguish tourists from locals (Warnick et al, 2017). Due to the unique qualities of the destination (Miami Beach), the authors identified TMA as an option to better define and identify locals and tourists (Davis et al, 2012;Warnick et al, 2013Warnick et al, , 2015Warnick et al, , 2017.…”