Mastering Events and Event Management: My Expertise and Insights

The Problem with Economic Impact: Does the Money Really Stay in the Community?
Jesse Kiuru Jesse Kiuru

The Problem with Economic Impact: Does the Money Really Stay in the Community?

Many cities compete to host large events, relying on economic impact projections to justify their bids. But do these numbers tell the full story? This blog explores the difference between economic impact and retained money, emphasizing how important it is for local economies to focus not just on how much money flows through the city, but how much stays and continues to benefit the community.

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Event Economic Impact vs. Economic Retention: Why the Difference Matters
Jesse Kiuru Jesse Kiuru

Event Economic Impact vs. Economic Retention: Why the Difference Matters

Understanding the difference between economic impact and economic retention is crucial when hosting major events. While the economic impact of an event represents the total money generated, economic retention reveals how much of that money stays in the local economy. This blog explores the importance of economic retention, compares scenarios, and offers practical tips for increasing the local benefits of hosting events. It's an essential read for cities in the event bidding process.

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