Joint Meetings Industry Council Conference on the Value

Joint Meetings Industry Council Conference on the Value of Meetings Advanced Value Measurement

1) Destination promotion / an engine of Economic Development 2) Destination. NEXT 3) Economic Impact Calculator

The DMAI Event Impact Calculator: Global Development

About Tourism Economics 4

A world leader in quantitative economics & business research Founded 30 years ago as a private consultancy within Oxford University Our international reputation was built on: § The quality of our staff. 80 economists from leading organizations across our offices in Europe , US and Asia § A rigorous quantitative approach, based on our leading models § Our ability to address questions in consulting studies 5

Independent economic advisory Forecasts l briefs data Quarterly scenarios, Commodities, Investment, Trade flows, Talent, Tourism Models l forecasting scenario risk Global macro model Global industry model Consulting l Business Research l Outsourced economic analysis Impact studies Thought leadership Market sizing 6

Tourism Economics: real world solutions Travel data and forecasts for 190 countries and 300 cities 7 Policy analysis and recommendations Market opportunity and scenario analysis Destination economic impact

Global client base in travel & tourism Corporations Associations Boeing Caribbean Tourism Org. Fairmont Raffles Google Inter. Continental Hotels Accor Master. Card Theme Parks TUI Visa European Travel Commission Pacific Asia Travel Assoc. US Travel Association DMAI IAAPA WTTC UN World Tourism Org. ■Tourism Economics serves over 200 clients worldwide ■…every year 8 Destinations Arizona Office of Tourism Bahamas Ministry of Tourism Brand USA Visit California Canadian Tourism Commission Dubai Tourism Georgia Tourism Saudi Arabia (SCT) Discover Los Angeles NYC & Company Ontario Ministry of Tourism Visit Orlando Prom. Peru San Diego CVB Tourism Ireland Visit Britain Visit Denmark Visit Florida Visit Switzerland

The DMAI Event Impact Calculator 9

Overview l The Event Impact Calculator provides localized metrics on the value of events to make the case for the ongoing development of the meetings and sports events sectors. l Over 150 destination users in US, Switzerland, and Poland l The online tool is designed to be easy to use and flexible. Basic parameters of an event are translated into a full economic impact analysis including: ■ Business sales by industry and source ■ Impacts of sales on jobs, wages, and local taxes ■ ROI of the event against hosting costs and incentives l A report is then generated for the event that can be saved or printed l Users can save, recall, or aggregate events 10

Event types l Conventions l Trade Shows l Business Meetings l Sports ■ Youth Amateur ■ Adult Amateur ■ College (regular season) ■ College (championships) ■ Professional 12

Development approach City models are unique ■ ■ Employment and income multipliers ■ 13 Average spending per participant Tax rates DMOs/CVBs subscribe to a city-specific calculator through DMAI Country model involves a onetime development by Tourism Economics using national averages

Underlying data requirements Attendee and exhibitor spending estimates Flexible approach using global surveys, client data, and modeling Meeting planner spending estimates Based on financial data collected from meeting venues and global surveys Government statistics on employment and wages by sector Oxford Economics (200 countries and 3, 000 cities) Local multipliers National input-output tables with city analysis based on economic data Local tax information Tourism Economics research 14 …Total City Impact Approach Direct Country… Data requirement

Our country coverage accounts for 99% of world business Countries covered 15

City tourism coverage 93 cities are covered in Europe with detail on visitors on spending in the Global City Travel service. This enables Tourism Economics to estimate average spending based on average visitor spending and costs of doing business in individual cities 16

Logging In to EIC l The Event Impact Calculator is accessed online l Enter your account name and password in the appropriate boxes on the EIC home page. 17

The Event Parameters screen 18

The Hosting Costs screen (optional) l The ‘Hosting Costs’ is where the user may enter in any and all costs born by the DMO or city in question. l While not necessary to calculate the economic value of an event, hosting costs are necessary to be able to calculate an event ROI. 21

The impact report (page 1) 25

The impact report (page 2) 26

Exporting multiple events to a single file l At the ‘Saved Calculations’ page, an event, or group of events, may be exported by using the ‘Export Selected Calculations’ button. Export Selected Calculations 27 Previous Calculations

Tourism Economics 303 W Lancaster Ave. Suite 2 E Wayne, PA 19087 USA Phone: +1. 610. 995. 9600 Email: info@tourismeconomics. com http: //www. tourismeconomics. com Destination Marketing Association International 2025 M Street NW, Suite 500 Washington, DC 20036 Tel: +1. 202. 296. 7888 Email: info@destinationmarketing. org http: //www. destinationmarketing. org