The Use of an Event Portfolio in Regional Community and Tourism Development: Creating Synergy between Sport and Cultural Events

Abstract

Although host communities have begun to capitalize on a portfolio of recurring events to achieve a range of benefits, there is scant research and empirical evidence about the phenomenon of event portfolio. In addressing this knowledge gap, this study employed ethnographic methods to examine the rationales and drivers for the use of an event portfolio in regional development. Fieldwork was conducted in the rural community of Fort Stockton in USA – Texas. The findings indicate that the event portfolio is a socially embedded configuration in local life that facilitates the development of a holistic approach. It consists of sport and cultural events that strive to address community issues pertaining to social, tourism, and economic development. Event implementations are facilitated by the use of an integrated set of resources and the adoption of established practices. The relationship between sport and cultural events is innately symbiotic sharing common objectives, resources, and markets. The study argues that a holistic approach in event portfolio planning can integrate economic, sport, and tourism, as well as social development purposes and foster synergies between sport and cultural events. To do so, event tourism research needs to start building knowledge on the neglected area of event portfolios and understand this complex phenomenon.