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Assessing the Economic Impacts of Events: A Computable General Equilibrium Approach

University of New South Wales, Sydney, Australia, and Sustainable Destinations Research Program, Sustainable Tourism Cooperative Research Center

Peter Forsyth

Department of Economics, Monash University, Clayton, Victoria, Australia

Ray Spurr

Sustainable Destinations Research Program, Sustainable Tourism Cooperative Research, at the University of New South Wales, Sydney, Australia

This article explores the use of computable general equilibrium (CGE) analysis in evaluating the economic impacts of special events. It is argued that CGE analysis is preferred to input-output (I-O) approaches for assessing other than local economic impacts. The article illustrates several differences between the alternative forms of analysis in event assessment. These include assessing the differential effects of events on the host region, other regions, and nationally and the ability to estimate interindustry effects. The article then shows how CGE models can be adapted to estimate the displacement effects of events, their fiscal impacts, intraregional effects, event subsidies, and multistate effects. The article also discusses how event impacts will vary depending on the extent of integration between regional and national resource markets and regional and national product and services markets and how labor markets are modeled.

Key Words: special-events assessment • economic impacts • computable general equilibrium models • tourism industry

Journal of Travel Research, Vol. 45, No. 1, 59-66 (2006)
DOI: 10.1177/0047287506288907


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