Joint Meetings Industry Council Conference on the Value of Meetings Advanced Value Measurement

1) Destination promotion / an engine of Economic Development 2) DestinationNEXT 3) Economic Impact Calculator

The DMAI Event Impact Calculator: Global Development

4 About Tourism Economics

5 A world leader in quantitative economics & business research Our international reputation was built on:  The quality of our staff. 80 economists from leading organizations across our offices in Europe, US and Asia  A rigorous quantitative approach, based on our leading models  Our ability to address questions in consulting studies Founded 30 years ago as a private consultancy within Oxford University

6 Independent economic advisory Forecasts l briefs data Quarterly scenarios, Commodities, Investment, Trade flows, Talent, Tourism Models l forecasting scenario risk Global macro model Global industry model Consulting l Business Research l Out- sourced economic analysis Impact studies Thought leadership Market sizing

7 Tourism Economics: real world solutions Travel data and forecasts for 190 countries and 300 cities Policy analysis and recommendations Market opportunity and scenario analysis Destination economic impact

8 Global client base in travel & tourism Corporations Boeing Fairmont Raffles Google InterContinental Hotels Accor MasterCard Theme Parks TUI Visa Destinations Arizona Office of Tourism Bahamas Ministry of Tourism Brand USA Visit California Canadian Tourism Commission Dubai Tourism Georgia Tourism Saudi Arabia (SCT) Discover Los Angeles NYC & Company Ontario Ministry of Tourism Visit Orlando PromPeru San Diego CVB Tourism Ireland Visit Britain Visit Denmark Visit Florida Visit Switzerland Associations Caribbean Tourism Org. European Travel Commission Pacific Asia Travel Assoc. US Travel Association DMAI IAAPA WTTC UN World Tourism Org. ■Tourism Economics serves over 200 clients worldwide ■…every year

9 The DMAI Event Impact Calculator

10 Overview The Event Impact Calculator provides localized metrics on the value of events to make the case for the ongoing development of the meetings and sports events sectors. Over 150 destination users in US, Switzerland, and Poland The online tool is designed to be easy to use and flexible. Basic parameters of an event are translated into a full economic impact analysis including: ■Business sales by industry and source ■Impacts of sales on jobs, wages, and local taxes ■ROI of the event against hosting costs and incentives A report is then generated for the event that can be saved or printed Users can save, recall, or aggregate events

11 Important features  Flexible (works with varying levels of information)  Localized (city-specific impact models)  Comprehensive (full impact analysis on spending, jobs, taxes, and ROI)  Standardized (150 destination users in US, Switzerland and Poland)  Credible (based on multiple data sources)  Sustainable (annual updates)

12 Event types Conventions Trade Shows Business Meetings Sports ■Youth Amateur ■Adult Amateur ■College (regular season) ■College (championships) ■Professional

13 Country model involves a one- time development by Tourism Economics using national averages DMOs/CVBs subscribe to a city-specific calculator through DMAI Development approach City models are unique ■Average spending per participant ■Employment and income multipliers ■Tax rates

14 Underlying data requirements Data requirement Approach Attendee and exhibitor spending estimates Flexible approach using global surveys, client data, and modeling Meeting planner spending estimatesBased on financial data collected from meeting venues and global surveys Government statistics on employment and wages by sector Oxford Economics (200 countries and 3,000 cities) Local multipliersNational input-output tables with city analysis based on economic data Local tax informationTourism Economics research Direct Country… …Total City Impact

15 Our country coverage accounts for 99% of world business Countries covered

16 City tourism coverage 93 cities are covered in Europe with detail on visitors on spending in the Global City Travel service. This enables Tourism Economics to estimate average spending based on average visitor spending and costs of doing business in individual cities

17 Logging In to EIC The Event Impact Calculator is accessed online Enter your account name and password in the appropriate boxes on the EIC home page.

18 The Event Parameters screen

19 The Event Parameters screen Calendar ButtonCalendar Pop-up For ease of entry for the start/end date of the event, the user may click on the ‘Calendar Button’. This will bring will bring up a calendar pop-up from which the user may select the proper dates.

20 Help is available by clicking ? Help Icon Help Panel Help is available for each entry point. Selecting the “?” for the entry point in question will bring up an entry specific help pane.

21 The Hosting Costs screen (optional) The ‘Hosting Costs’ is where the user may enter in any and all costs born by the DMO or city in question. While not necessary to calculate the economic value of an event, hosting costs are necessary to be able to calculate an event ROI.

22 The Contract Values screen In the ‘Contract Value’ page, the user may enter any known contract values User can input this information or use the model defaults for any category. If using a combination of actual contract values and model defaults, start by clicking “Use Model Defaults” and then edit values. If the user chooses to not enter any values, the model defaults will be used in the calculation of the economic impact of the event.

23 The Tax Rates screen The DMO also has the option of editing tax rates for the event to be analyzed. This is done on the ‘Tax Rates’ tab of the ‘New Calculation’.

24 Save parameters and calculate impacts Save & Calculate Button Once the user has entered in all of the event-specific data, selecting ‘Save & Calculate’ will calculate the economic impact of the event.

25 The impact report (page 1)

26 The impact report (page 2)

27 Exporting multiple events to a single file Previous CalculationsExport Selected Calculations At the ‘Saved Calculations’ page, an event, or group of events, may be exported by using the ‘Export Selected Calculations’ button.

Tourism Economics 303 W Lancaster Ave. Suite 2E Wayne, PA USA Phone: Destination Marketing Association International 2025 M Street NW, Suite 500 Washington, DC Tel: