What’s Behind the Curtains: The Data and Theory Behind the Event Impact Calculator (EIC)
Recorded On: 06/21/2023
While there used to be a "one size fits most" number to determine the impact of events to our destinations, that number often did not fit the unique and specific characteristics of events due to differences in size, time, location, and a variety of other factors.
Enter the Event Impact Calculator (EIC) - a more sustainable, flexible, and credible way to report on the impact of events. Since it’s launch over ten years ago, the calculator has released four unique modules and supports over 325 subscribers across 12 different countries.
Non-economists that use the EIC can face some tough questions from their stakeholders about the calculator’s outputs. It is therefore critical for subscribers to understand how to succinctly and effectively report on their impact numbers.
In this session we will explain the data and theory behind the calculator and how and why each model is unique to each subscriber. In addition, we will discuss the potential of new technologies and data to be added to the calculations.
Come with your questions and be ready to better understand what drives the calculator outputs, what “other” taxes are, and how often the data is refreshed. You will leave the webinar equipped with some simple economic language to help you report those numbers back to your stakeholders.
Presented by Destinations International and Tourism Economics
Vice President of Research & Advocacy
Director of Impact Studies
Chris Pike has 20 years of experience as a professional economist with the last 15 focused on the tourism sector. As the Director of Impact Studies at Tourism Economics, Chris is responsible for measuring the economic impact of tourism activity – both broadly and for specific initiatives and projects. He works with dozens of state and local tourism offices and manages a series of ongoing consultancy projects related to the tourist sector. For our EIC webinar series, Chris serves as the expert on Destination's International's Event Impact Calculator and helps us understand this tool and its relevance for our industry.