new tool offers greater insight
Now it's easier than ever to measure the economic value of a prospective or booked event! With the Destination Marketing Association International's (DMAI) Event Impact Calculator, the TRCVB is better prepared to calculate the economic benefit of specific and unique events.Backed by Oxford Economics and Tourism Economics, the Event Impact Calculator provides an industry-wide standard with three important distinctions:
- It's flexible: the TRCVB can run scenarios depending on the type of event, year, industry focus and financial agreements
- It's localized: it calculates based on city-specific information for our region
- It's comprehensive: both direct and indirect impacts are measured for business
The benefit of this tool is that the TRCVB sales team, in cooperation with our members, can better quantify the value of a particular piece of business to determine our destination's offering.
According to this calculator, in 2011 the TRCVB generated at total of $8,339,816 in direct business sales, $637,848 in Net Local Tax ROI and supported 3,750 direct persons employed for events booked (not including events with no room nights).