🫰 Formulas to Calculate Direct Economic Impact Estimates for Major Events
This essential tool provides four customizable calculators to help event organizers and host cities estimate simple the direct economic impact of their events. It covers overall economic impact, participant-based events, admission-based events, and organizational spending.
This essential tool provides four customizable calculators to help event organizers and host cities estimate simple the direct economic impact of their events. It covers overall economic impact, participant-based events, admission-based events, and organizational spending.
This essential tool provides four customizable calculators to help event organizers and host cities estimate simple the direct economic impact of their events. It covers overall economic impact, participant-based events, admission-based events, and organizational spending.
Formulas to Calculate Direct Economic Impact Estimates for Major Events
Estimating the direct economic impact of an event is crucial for organizers and host cities aiming to understand the financial benefits of their efforts. This template offers a simple, yet reliable, approach to calculating the financial influence an event has on the local economy. With four detailed calculators, it enables you to assess spending by visitors, participants, and organizers, ensuring a complete view of the event’s financial footprint.
What am I supposed to do with the Direct Economic Impact Calculators?
This template helps you calculate the economic benefits of hosting events by:
Estimating visitor and participant spending during the event and how it impacts the local economy.
Calculating organizational spending and its contribution to job creation and local development.
Understanding leakage by accounting for money that leaves the local economy.
Projecting sales tax revenue generated by event-related spending.
Use the calculators to produce clear, data-backed insights into how your event boosts local economic activity.
How to implement this tool in your event management process:
💡 Gather accurate data from surveys and estimates to input into the calculators.
📋 Use during the event bidding, event planning and post-event evaluation phases to assess economic benefits.
✅ Review and adjust inputs regularly to refine estimates and improve accuracy.
📊 Report findings to stakeholders, showcasing the event’s economic contributions.
What do I get with this template for my event planning?
💎 Comprehensive economic impact calculators to help you quantify the financial benefits of your event.
🔑 Excel file compatible with Google Sheets and Numbers, with four customizable calculators.
📓 Sheets Overview:
Sheet 1: Simple Event Economic Impact Calculator
Estimate the total economic impact of your event, accounting for visitor spending, local economy contributions, and sales tax revenue.Sheet 2: Simple Event Economic Impact Calculator for Participant-Based Events
Focuses on participant-driven events, calculating the economic effect based on participants, spectators, and their spending in the local economy.Sheet 3: Simple Event Economic Impact Calculator for Admission-Based Events
Designed for ticketed events, this calculator estimates the impact based on ticket sales, spectator spending, and other on-site spending.Sheet 4: Simple Event Economic Impact Calculator for Organizational Spend
Assesses the economic contributions of event organizers, including staff salaries, organizational spending in the local economy, and job creation.
This tool simplifies the complex process of calculating direct economic impact, helping event organizers and host cities demonstrate the financial benefits of their events. A MUST-HAVE TEMPLATE for event professionals looking to quantify their event’s contribution to local economic development.