n South African Journal of Economic and Management Sciences - Economic impact of cultural events
|Article Title||Economic impact of cultural events|
|© Publisher:||University of Pretoria|
|Journal||South African Journal of Economic and Management Sciences|
|Author||Melville Saayman and Andrea Saayman|
|Publication Date||Dec 2004|
|Pages||629 - 641|
ISI Social Science
The phenomenon of events can hardly be described as a new one. The aim of this paper is to determine the economic benefits of three major cultural events in South Africa to the host community. Measuring the economic impact normally entails some estimation of the cash injection into a region by visitors and applying the relevant multiplier to arrive at a monetary estimate of the economic impact. But few regions or municipal areas have detailed economic data to construct a type of input-output model and derive a multiplier. The purpose of the methods used in this research were firstly to determine the estimated cash injection, secondly to estimate the size of leakages in the local economy and thirdly to derive an appropriate multiplier to estimate the economic impact of the event.
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