Explain how an event in one area could affect another area

1 answer:

8 0

The 'economic impact' of a major event refers to the total amount of additional expenditure generated within a defined area, as a direct consequence of staging the event. For most events, spending by visitors in the local area (and in particular on accommodation) is the biggest factor in generating economic impact; however, spending by event organisers is another important consideration. Economic Impact studies typically seek to establish the net change in a host economy - in other words, cash inflows and outflows are measured to establish the net outcome. Not sure if this is the answer your looking for but it might help!

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