Economic and Fiscal Impact Assessments
At this point in the evolution of destination marketing entities, whether on the state, regional, local or district level, it is critical to have factual defensible measures of its marketing and programming based economic and fiscal contributions, even if the entity is not directly publicly funded, as any funding or its operation may require a political vote or assessment.
These measures focus on visitor/customer volume, spending, local tax impacts and employment supported by customer spending and activity. In addition, these studies identify visitor/customer demographics and behaviors including: geographic origin, planning resources used reasons for visiting/purchase, venues and activities etc.
Studies should be performed on a recurring basis, e.g., every two-to-three years, both to establish benchmarks and to chart progress over time. Such studies have multiple uses including: measuring program effectiveness, guiding marketing messaging and placement, improving competitive positioning, assessing optimal utilization levels, guiding future infrastructure, services/amenities and product development, and importantly for garnering public and political support for the organization.
LSC has conducted numerous visitor and customer impact studies over the years for a range of clients, including destinations, special sports/local events, or attractions/venues. We have a proven methodology that is replicable, comparable and consistent to provide clients with current, vital and useful data.