Economic Impact of Community Events
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Economic Impact of Community Events
 
Foster City Chamber of Commerce

How Do We Estimate the Economic Impact of Large Special Events?

Although it is not possible to calculate the exact economic impact of a large-scale community event,  Professor John Crompton, a distinguished professor of Recreation, Park and Tourism Sciences at Texas A7M University has developed a formula for calculating an estimate.

The Formula for Economic Impact of Large Special Events

Total number of attendees * 40% (non-resident attendees) * $32.50 per attendee

Assumptions

  • Additional economic impact for the community is mainly garnered from non-residents since residents are more likely to already spend their money in the city. As a general guideline (and based on informal surveys done in Foster City), 40-50% of Special Event attendees are non-residents.
  • As a general guideline, the average economic input is $32.50 per person, which is composed of $10-25 in food, beverages, rides and activities and $10-20 on souvenirs, groceries, picnic supplies, other retail stores, gas, and transportation.
 

City Hall - 610 Foster City Blvd.
Foster City, CA 94404
(650) 286-3200