Top 8 Take-Aways from the Sports ETA 2019 State of the Industry Report Dr. Jennifer Stoll, CSEE Sports ETA Research and Education Stoll Sports Strategies, LLC
You have likely received, and hopefully read, the recently released Sports ETA State of the Industry Report in partnership with our colleagues at Northstar Meetings Group and conducted by the leading experts at Tourism Economics. If you missed it, you can check it out here. But have you taken the time to really think about what the report’s findings mean for the sports events and tourism industry? Probably not. And it’s okay, that’s why Sports ETA is here, to provide our members and constituents with a deeper dive into what the report means with the Top 8 Take-Aways from the 2019 State of the Industry Report. Let’s get started.
Summary Economic Impacts ($ billions) $32.8
$103.3
$45.1
Indirect sales
Source: Tourism Economics
7
8
Direct, Indirect, and Induced Spending…Oh my! Lets face it, most of us are not trained economists. We know enough to be dangerous about economic impact, and we can “fake-it-till-we-make-it”. Heck, we might even be solid in our navigation of the Event Impact Calculator. But when comes to understanding the main elements of direct, indirect, and induced impact, our eyes glaze over a bit.
$25.4
Direct sales
Number
Induced sales
Total sales
These are important elements to learn. Think of them this way: Direct impacts are those tied to the spending that occurs DURING the event. Indirect impacts are spending that occurs through the purchases that GO INTO THE EVENT. Induced impacts are when wages earned from direct and indirect spendings are, in turn, spent in the community. These are the foundational elements of economic impact that frame our understanding of the report’s key headlines forthcoming.
