Economic Impact

 

WHAT IS EVENT ECONOMIC IMPACT?

Economic Impact Assessment (EIA) studies measure the positive change in economic activity resulting from hosting an event in a specific city/town. There are three factors:

1.  the spending of out-of-town visitors while they attend the event;

2.  the expenditures of the event organizers in producing the event;

3.  capital construction costs that are directly attributed to hosting the event.

CSTA has developed three tools to help event organizers, venues and destinations predict and measure EI:

steam2.0 – a sport-specific predictive, online estimator tool that is available free of charge to CSTA’s members or as a pay-per-use service to non-members. This EI tool cannot be used to generate post-event data. MORE HERE ….

steαm pro2.0 – a sport specific economic impact model that uses real data in real time combined with post-event information to produce a detailed report of the economic impact of a sport event on a specific city/town in Canada. MORE HERE ….

fest pro – the sister model of steαm pro2.0, fest pro measures the economic impact of festivals, fairs, exhibitions (i.e. any type of non-sport event) using real data collected in real time. MORE HERE ….

STRONG DATA DRIVES DECISIONS!

Why is EI important? What do I do with the data? Our economic impact services empower event organizers, venues and host cities to accurately predict and assess the economic impact resulting from hosting a specific event in a specific Canadian location. EI reports help you:

→ Explain why your community should invest in bidding or hosting events.

→ Outline the impact events will have on the local economy.

→ Calculate the spending of your out-of-town visitors.

→ Build a business case and gain support for hosting a future event.

→ Advocate effectively for business development and new facilities.

→ Demonstrate the value of your event property.