A Framework for Assessing “tangible” and “intangible” Impacts of Events and Conventions

TLDR

Governments often face requests for financial support for events, but the appropriate level of support depends on the perceived public benefits and costs. The article proposes a framework to guide decisions on public funding for events by evaluating their economic impacts and projected benefits. The framework was developed by Tourism New South Wales, outlining a method to assess economic and other impacts of events by type and location.

Abstract

Governments are often asked to provide financial support for special events and conventions to be held within particular destinations. The major problem is: what degree of support, if any, is warranted? The answer to this question varies according to the perceived public benefits and costs associated with the event. Clearly, there is needed some framework of analysis that can be used to help determine which events should be supported, and to what extent, and which should not be supported with public funds. In late 1998 Tourism New South Wales commissioned the development of a framework for assessing the economic impacts of events and conventions (exhibitions, conferences) by type and by location. This framework was expected to serve as a device for discerning trends in economic impacts of events and conventions, and also serve as a guide to projecting the likely economic impacts of future events and conventions by type and by location. The focus of this article is on the usefulness of the framework for assessing the impacts of events and conventions. First, the aims of the project undertaken for Tourism New South Wales are specified, and the method outlined. Second, the framework that was developed for assessing the economic and other impacts of events and conventions is presented and discussed.