C H A P T E R 10 Economics of Leisure Brent Beggs Chapter 10.

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Presentation transcript:

C H A P T E R 10 Economics of Leisure Brent Beggs Chapter 10

Learning Outcomes Explain the role that economic status once played in determining leisure. Demonstrate an understanding of the relationship between economics and leisure. Describe the significant economic impact that different sectors of the leisure service industry have on society. Know key economic terms related to leisure services, such as discretionary income, direct expenditure, indirect expenditure, and economic multiplier.

Economics of Leisure Who spends money on leisure? What leisure expenses do you have?

Relationship of Economics and Leisure Leisure as a status symbol The theory of the leisure class (Veblen) Social class Leisure class Paradox of leisure Money as a barrier to leisure Discretionary income

Spending Money on Leisure Direct expenditure Indirect expenditure Economic multiplier Leakage

Part of the money spent on this meal will be used to pay wages Part of the money spent on this meal will be used to pay wages. In turn, the restaurant staff will spend some of that money on their own leisure.

Commercial Recreation: Travel and Tourism Tourist arrivals Tourist receipts

We spend lots of money to get into an amusement park and even more once we are inside.

Commercial Recreation: Sporting Events Revenue generation NFL MLB

Commercial Recreation: Health Clubs Memberships Growth Revenue

Commercial Recreation: Golf Courses Growth Consumer spending Economic impact

Commercial Recreation: Special Events and Festivals Various types Number of festivals Economic impact

Commercial Recreation: Food Services Number of diners Annual sales Restaurants

Commercial Recreation: Retail Products Equipment Footwear Recreational transportation Music Video games

Commercial Recreation: Amusement and Aquatic Parks Visitors Revenue Disney

Commercial Recreation: Gambling Industry Casino visitors Revenue generation Growth

Municipal Recreation Federal, state, and local Tax based National parks and state parks

Not-for-Profit Recreation Revenue back into agency Health care and education Environment (continued)

Not-for-Profit Recreation (continued) YMCA Revenue Donations and grants Members Facilities Boys and Girls Clubs of America Children served Revenue generation Employment

Summary People spend on leisure regardless of economics. Leisure as a status symbol? Economic impact of leisure is tremendous.