Using a Trade Market Analysis Technique to Refine Measurements for Economic Impact Analysis of Special Events

Abstract

Special events can have a sizable economic significance (ES) and economic impact (EI) in host communities. This study's purpose was to update the input measurement concepts in assessing the EI for a short-term special event. Specific EI measurements were examined as suggested by Crompton, Lee, and Shuster (2001) and Stynes (1997) that differentiated between types of attendees. A trade market analysis (TMA) technique was applied to refine the measures of locals and nonlocals and to reconsider locals who have visiting friends and relatives (VFR) in their group profiles. Further refinement of day-trip attendees and visitors expenditure impacts were identified and used to adjust the EI when applied to a sales multiplier. Self-administered online surveys were emailed to 2,678 group leaders from a registration and on-site intercept population with a response rate of 46%. Measurement improvements were found for local, nonlocal, casual, time-switcher, and VFR attendees in EI application.

Does aTerroirProduct Tell the Same Story to Tourists, Day-trippers and Local Consumers? The Moderating Role of Variety-seeking Tendency and Perceived Authenticity

“…Due to their geographical proximity to the destination, it is possible that the effect of exposure is higher among day-trippers than tourists. Warnick et al (2013) confirm the particular interest of this group and suggest segmenting nonlocal consumers into two groups: day-trippers and overnight tourists.…”

“…Warnick et al . () confirm the particular interest of this group and suggest segmenting nonlocal consumers into two groups: day‐trippers and overnight tourists.…”

“…However, this focus on local tourists is in itself a contribution because, as pointed out by Singh and Krakover (), ‘a view of tourism that is essentially international actually limits the study of tourism on the whole’. Although their economic importance has been well established, the motivations and behaviors of day‐trippers have been studied little (Warnick et al, ). New research could focus on characterizing this type of visitor in more detail than currently provided by the standard technical definition (without an overnight stay).…”

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

“…To date, there has been relatively little research on the quality of the measurement data entered into the EI models, and surprisingly few experimental investigations of measurement issues as noted by Raybould and Fredline (2012). Recently, Warnick, Bojanic, and Xu (2015) brought into question some of the initial measurement techniques used to construct EI measures. EI studies have long been the focus of tourism destination areas and, in the last decade, there has been more focus on them for short-term special events that last one to two days, such as festivals (Damonte, Marcis, and Rella 2013) and sports events (Li and Jago 2013).…”

“…Others have also worked to improve measurement techniques in EI studies. Recently, Warnick, Bojanic, and Xu (2015) indicated that a Trade Market Analysis (TMA) technique could help define locals more precisely in EI studies, while Vogelsong (Hans Vogelsong, personal interview, April 7, 2013) indicated that the easiest way to classify locals and nonlocals in the EI process is to simply have respondents self-identify their local versus nonlocal status. Others (Backer 2008, 2012; Young, Corsum, and Baloglu 2007) have suggested that various subgroups of event attendees such as visiting friends and families (VFR) groups are discounted or not adjusted for in EI studies.…”