Reconsidering the estimation of the economic impact of cultural tourism

Torre, Andrew and Scarborough, Helen 2017, Reconsidering the estimation of the economic impact of cultural tourism, Tourism management, vol. 59, pp. 621-629, doi: 10.1016/j.tourman.2016.09.018.

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Title Reconsidering the estimation of the economic impact of cultural tourism
Author(s) Torre, AndrewORCID iD for Torre, Andrew
Scarborough, HelenORCID iD for Scarborough, Helen
Journal name Tourism management
Volume number 59
Start page 621
End page 629
Total pages 9
Publisher Elsevier
Place of publication Amsterdam ,The Netherlands
Publication date 2017-04-01
ISSN 0261-5177
Keyword(s) economic impact
cost benefit analysis
benefit function
cultural tourism
Summary The assessment of the economic benefits of cultural events is necessary to inform decision-making. In many cases cultural events are designed to attract tourists and the injection of tourist spending to a local economy is one of the drivers for hosting events. From an economic perspective, the impact of staging an event can be measured using either an expenditure multiplier or a cost benefit analysis (CBA) approach. One of the difficulties with CBA is the data required to estimate the relevant benefit function. This paper addresses this limitation by illustrating how benefit functions can be parameterised with minimal data, thereby enhancing the possibility of using CBA. Our approach is illustrated with a case study of an exhibition held by a regional community in Australia. The case study compares economic impact assessments and finds using benefit estimates as we propose provides a useful method of estimating benefits with limited data.
Language eng
DOI 10.1016/j.tourman.2016.09.018
Field of Research 150605 Tourism Resource Appraisal
150699 Tourism not elsewhere classified
150599 Marketing not elsewhere classified
150499 Commercial Services not elsewhere classified
Socio Economic Objective 900301 Economic Issues in Tourism
HERDC Research category C1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2016, Elsevier
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Document type: Journal Article
Collections: Faculty of Business and Law
School of Economics
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