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Economic performance measurement systems for event planning and investment decision making

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  • Della Lucia, Maria

Abstract

Cities and destinations have assigned a strategic role in tourist and place marketing to events. Economic impact analyses are one of the tools that policy makers can use to support effective investment decision making in event planning. The more precise and accurate these analyses are, the more helpful to event planning they will be. This paper proposes an innovative methodology to improve the economic impact estimate of events. It combines tested action-tracking technologies to track the consumer behaviour of visitors to the event (Radio Frequency IDentification – passive RFID) with bottom–up Input–Output models. A case study was carried out on the Festival of Economics in Trento, Italy, a cultural hallmark event aimed at high tourist flows, image-making and place branding and marketing. The paper suggests the inclusion of accurate economic impact analyses of events in the range of instruments used by policy makers to support effective decision making and investment.

Suggested Citation

  • Della Lucia, Maria, 2013. "Economic performance measurement systems for event planning and investment decision making," Tourism Management, Elsevier, vol. 34(C), pages 91-100.
    • Handle: RePEc:eee:touman:v:34:y:2013:i:c:p:91-100
    DOI: 10.1016/j.tourman.2012.03.016
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    References listed on IDEAS

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    Cited by:

    1. Leandro Pereira & Carlos Jerónimo & Mariana Sempiterno & Renato Lopes da Costa & Álvaro Dias & Nélson António, 2021. "Events and Festivals Contribution for Local Sustainability," Sustainability, MDPI, vol. 13(3), pages 1-8, February.
    2. Assunta Di Vaio & Luisa Varriale, 2014. "The cruise events organizational and managerial process: the role of Accounting Information Systems and Management Control," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2014(1), pages 55-71.
    3. Angeloni, Silvia, 2016. "A tourist kit ‘made in Italy’: An ‘intelligent’ system for implementing new generation destination cards," Tourism Management, Elsevier, vol. 52(C), pages 187-209.
    4. Lee, Seul Ki & Sok (Frank) Jee, Won & Funk, Daniel C. & Jordan, Jeremy S., 2015. "Analysis of attendees' expenditure patterns to recurring annual events: Examining the joint effects of repeat attendance and travel distance," Tourism Management, Elsevier, vol. 46(C), pages 177-186.
    5. Phillips, Paul & Moutinho, Luiz, 2014. "Critical review of strategic planning research in hospitality and tourism," Annals of Tourism Research, Elsevier, vol. 48(C), pages 96-120.

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