The Standard in Sports: Announcing the Sports Module for DMAI’s Event Impact Calculator
WASHINGTON, DC -- Since its introduction a year and a half ago, more than 110 DMOs have embraced DMAI’s Event Impact Calculator to measure the economic impact of their meetings, conventions, and trade shows.
With destinations historically having used a number of different methodologies to calculate economic impact, DMAI’s Event Impact Calculator now provides a credible industry standard for destinations to adopt to accurately reflect the impact of specific events to specific destinations in an annualized and credible way that can also be integrated with DMOs’ internal technologies.
This coming July, DMAI will release the Sports Module of the Event Impact Calculator as the credible, sustainable, and consistent industry standard for determining the impact of sports events.
The Sports Module
As an added module to the Event Impact Calculator, the Sports Module will satisfy an immediate need for an industry standardized tool, influenced by local data with annual updates. Consistent with the current Event Impact Calculator, the module relies on the support of Tourism Economics, who specializes in quantitative analysis for businesses and governments. It will report on direct spending on local goods and services, and will calculate indirect and induced spending outputs in terms of jobs, wages, and tax contributions – all of which are important statistics for local policymakers.
Data from various sources include:
- Longwoods International syndicated survey for U.S. travelers who attended a sports event,
- Survey results of about 50 studies collecting a broad dataset on per participant, per diem spending for various types of sports events.
- Compiled input to DMAI members and Event Impact Calculator users for any destination-specific studies conducted on past sports events.
- All other city-level industry, tax, and economic data points used in the basic Event Impact Calculator to adjust models to the destination.
As the Sports Module undergoes development and release, DMAI is grateful to involve a special task force of DMOs with a vested interest in this particular market to not only guide our progress, but also rigorously test the module for accuracy and ease of use. Our 27 task force volunteers represent 22 DMOs of varying budget sizes across the United States. For a complete list of current volunteers, go here.
The task force, along with DMAI, will share more information with the industry throughout the development process. To receive ongoing updates on the Sports Module, please contact Joy Lin at email@example.com.
Moreover, DMAI will work closely with your CRM solution providers to update the application programming interface (API) and your dashboards to include any additional fields, outputs, and reports.
Structure and Subscription
Lastly, depending on the subscription level of the DMO, the tool will exist in two forms:
- As an additional module to the existing calculator.
- Standalone sports-only calculator.
For detailed information about the Event Impact Calculator and Sports Module rate structure, go here.