SECTION THREE: BUILDING A CASE |
3.15 ECONOMIC IMPACT ASSESSMENT OF AQUATIC SPORT EVENTS |
One of the considerations in favour of the development of aquatic sport friendly facilities may be the economic impact of events and meets as each municipality continually strives to support local business development and retention. The Government of Ontario has produced a guide that assists communities, businesses and interested individuals in assessing the economic impacts of events and business generation. In very simple terms, determining the direct economic impact (on restaurants and hotels) of a competition one would need to calculate the number of events annually, how many non-resident visitors might attend these events and determine the average amount per person that would be spent on food and lodging etc. The direct impact is calculated by multiplying the number of attendees by the average amount each would spend per day on local businesses. Quantifying the economic impact can assist in identifying positive local impacts on businesses and further builds the case for the development of a sport friendly pool.
The full assessment description and methodology may be found at The Canadian Sport Tourism Alliance as developed software model that can also assist in projecting the economic impacts of sport competitions