Acquire information to guide business decision making.

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Presentation transcript:

Acquire information to guide business decision making. 4.02 - Measure economic impact of sport/event

Economic Impact of sport/event The significant investment by local governments suggests that the economic returns of sport must be quite large. Teams, stadiums, and events are commonly promoted as economic catalysts.

Impact – Direct, Indirect, Induced Direct Impact: The first round effect of visitor spending, that is, how much the restaurants, hotels, and others who received the initial amount spend on goods in the local economy and pay employees who live in the jurisdiction. Indirect Impact: The ripple affect of additional rounds of recirculating the initial spectators dollars Induced Impact: Further ripple effects caused by employees of impacted businesses spending some of their salaries and wages in other businesses in the city.

accounting records are kept to measure economic impact Factors to Consider? Number of spectators Number of attendees (non-spectators) Percentage of spectators and attendees from outside the 'host economy' Duration of event accounting records are kept to measure economic impact

https://www.youtube.com/watch?v=W1KB_FQ4I_c

Write a one page paper on the positive and/or negative effects on a local economy for hosting an event or sports team. Give specific examples through your research and cite your sources (No cutting and pasting) Finally, give your opinion whether you think it is a good or bad thing for a city/state/country to invest in a sports team/event. This is a formal grade!!!