In this paper, we will be discussing the economic impact study on 2010 Arctic Winter Games conducted by Econometric Research Limited by using the Sports application of Sports Impact Model Alberta (SIMA) developed by themselves. Further, we will explain about how it has been conducted and the key findings and conclusions of the study along with my recommendations.
The economic impact study on 2010 Arctic Winter Games was conducted by Econometric Research Limited. The study has been conducted by using the Sports application of Sports Impact Model Alberta (SIMA). This model helps in capturing the economic impact of sports related expenditures at the economic regions and in the province level. Location theory and Input-Output analysis can be integrated with the help of new technology used in this model (Downward, Dawson & Dejonghe, 2009). Statistics Canada publishes the economic and technical databases, which can be used in this model. The input data, used in this study, reflects the incremental expenditures of games and their visitors (Event Analysis and Economic Impact Study, 2010).
2008 financial data is provided by Statistics Canada, the Travel Survey of Residents of Canada and the International Travel Survey in this study. Online purchase of tickets helped to track the geographic identity of the buyer, but walk up ticket sales disabled to track the identity of the purchaser. The online ticket purchasers belong to Alberta residents excluding Grade Prairie residents, Canadian residents excluding Alberta residents, Alberta residents including Grade Prairie residents, USA residents and International residents excluding USA residents. The event lasted for 7 days. The assumption made that 40% spectators were from Grande Prairie and the near by area in the study, did not stay overnight. Athlete costs, volunteer expenditures, and capital expenditures are not included in the study (Event Analysis and Economic Impact Study 2010).
Separate estimation of economic impacts of incremental tourism and operational expenditures is done in this study for the identification of the total impacts of the Arctic Winter Games in Grande Prairie on the provincial, local and national economies. It was found from the study that approximately $1.25 million is spent by visitors on food, travel and accommodation, in Grande Prairie in 2010. The expenditure done on the operations by the organizers was about $6.41 million to sustain the games. The overall economic impact of the above mentioned expenditures were projected to have exceeded $10.8 million in Alberta of which, Grande Prairie accounts for $7.29 million.
As stated in my thesis statement, the sport of hockey has been forced to compete with the growing mass popularity with other sports such as basketball and football. There once was a point in time where hockey had just as much popularity as those sports but because people are finding more interest in those sports, the National Hockey League found itself in a “drought” of unimportance with other sports. With not televising the sport as “commonly” as other sports.
In the year of 2012, there were almost fifteen million overnight tourist trips taken in Scotland, which resulted in £4.3 billion in visitor expenditure. This shows that tourism really helps the Scottish economy as over one hundred and forty million tourist day trips w...
Siegfried, J., & Zimbalist, A. (2000). The economics of sports facilities and their communities. The Journal of Economic Perspectives, , 95-114.
This section of my research presents a brief summary of Vancouver Olympics as an event in terms of sustainability.
Based on the information provided in the document, The new Economics of the NHL, by T. Keller, it states, “Only one 5fth of the NHL’s teams are Canadian, yet the country’s fans account for nearly one third of the league’s revenues” (Keller, 2011). This demonstrates that despite Canada’s relatively low population to the United States and lower team numbers in the country, Canada still accounts for one third of the NHL’s revenues. Even when Canadian dedication is compared to hockey in the United States, who has more NHL teams and higher population, Canadians still contribute significantly to the leagues overall sales. If Canada had even more teams in different locations, such as Quebec, this revenue contribution could possibly grow even more and further establish the bond Canada has with hockey
Noll, Roger, and Zimbalist, Andrew. Sports, Jobs, and Taxes: The Economic Impact of Sports Teams and Stadiums. Brooking institutions press, Summer 1997. Vol. 15 No. 3.
Close, Paul, David Askew, and Xin Xu. The Beijing Olympics the Political Economy of a Sporting Mega-event.. Hoboken: Taylor & Francis, 2006.. 34-35
Financial aspects and profitability of college athletic programs is one of the most important arguments involved in this controversy. A group of people expresses that college athletic programs are over emphasized. The point they show on the first hand, is that athletic programs are too expensive for community colleges and small universities. Besides, statistics prove that financial aspects of college athletic programs are extremely questionable. It is true that maintenance, and facility costs for athletic programs are significantly high in comparison to academic programs. Therefore, Denhart, Villwock, and Vedder argue that athletic programs drag money away from important academics programs and degrade their quality. According to them, median expenditures per athlete in Football Bowl Subdivision were $65,800 in 2006. And it has shown a 15.6 percent median expenditure increase fro...
The Current Scale and the Economic Importance of the Sports Industry Over 100 years ago the scale of the sports industry has increased gradually. Not all sports have followed in the same path or footsteps. A slow increasing level of control has been affecting the sports industry since 1960Â’s. Mainly standardisation and commodification of sport. More money has been put into the industry equivalent with the efforts that the sports organisations have put in, to increase their potential at the professional end of the scale, and the voluntary end they remain sustainable.
This research will jump forward in time to the late 1990’s and early 2000’s. Starting from youth hockey where the interest in the sport is developed, was a great way to see why there has been an increase in the popularity of the sport across the nation, especially in regions not normally known as hockey areas. According to USA Hockey and the NHL, youth hockey has been on the rise for the last decade in almost every state. This research is aimed at finding out where and why this increase is happening.
Over the past twenty years, many things have changed and evolved to impact our economy. From cell phones to music to media, we are all constantly affected. The most influential aspect though, in my opinion, has been America’s biggest game, the Super Bowl. The Super Bowl by all means effects our economies in every way, shape, and form. The sport is one of the most complex social institutions in American Society. Sports effect major institutions of society, including: the mass media, politics, religion, education, and family. The Super Bowl gathers thousands of viewer’s attentions including those who do not usually watch the regular season games.
While sports for the spectators are merely entertainment, the economics of the industry are what drives businesses to become involved. Sports have become more of a business entity rather than an entertainment industry due to the strong economic perception of the over all industry. There are several instances in which economics may contribute to the effect on the sports industry, such as: the success of a team, the price of a ticket, the amount of money an athlete will make, and the amount of profit a team will make. The success of an...
Sports are one of the most profitable industries in the world. Everyone wants to get their hands on a piece of the action. Those individuals and industries that spend hundreds of millions of dollars on these sports teams are hoping to make a profit, but it may be an indirect profit. It could be a profit for the sports club, or it could be a promotion for another organization (i.e. Rupert Murdoch, FOX). The economics involved with sports have drastically changed over the last ten years.
Ziakas, V & Costa, C 2011, ‘The Use of an Event Portfolio in Regional Community and Tourism Development’, Creating Synergy between Sport and Cultural Events, vol. 16, no. 2, pp. 149-175.
Sports stimulate national economies when there is an event hosted within the country. When countries come together, they help the host country’s economy. A few examples of this are the World Cup and the Olympics. The World Cup is one of the most influential events which benefits the economy where the event is being held. Sports being played within the country contribute to the economy as well. American football is a sport which contributes to the American society because it brings a lot of fans, and the fans will do anything in order to be a part of that culture. To bring the people together there has to be advertisement and when both come together, the economy starts to grow because everyone is cooperating. Although this is positive...