Economic Impact Study’s, such as the one conducted by Bernard Momer, (UBC Okanagan), “Economic Impact Assessment of the Creative Sector in Kelowna”, may indeed be a useful tool in evaluating cultural attendee(s) financial impact when you are creating a “Sustaining Fund Campaign” business plan for your cultural organization or institution.

The data in this particular study, http://is.gd/cd0eH, gives us some “indicators” as to where, when and how people who attend cultural events spend their dollars.

Here is an idea of how one might use the information from an Economic Impact Study for your planning process:

There are direct and indirect benefits as to how dollars “spent” on/at a cultural events and their impact on a community or city, for example: tickets sales for a specific cultural organization and institution event go directly into the “coffers” of the specific cultural organization and institution.

There is an indirect benefit as to how the dollars spent on/at a cultural event that can also have an impact in a community or city, for example: for every dollar spent on/at a cultural event there is a “trickle down” effect, such as: pre/post event dollars spent on meals, drinks, souvenirs, and transportation to and from the cultural event, to name a few.

This additional spending related to a specific cultural event has the effect of “indirect” dollars that remain in the community where the cultural event takes place.

This indirect spending touches other people, (besides those working/presenting a specific cultural event), who also work in the city or community: tips to waiters, restaurant hostesses; taxi drivers; sellers of souvenirs; bartenders, to name a few.

Summary: When planning a “Sustaining Fund Campaign” it may be an effective tool to search out an Economic Impact Study in your city or community to help you evaluate how, when and where cultural event attendees spend their dollars on/at a cultural event.

There are, for sure, a great number of cultural event attendees who have “small dollar” amounts to spend that you and your “Sustaining Fund Campaign” may be able to capitalize on.

Thank you to Bernard Momer, (UBC Okanagan), “Economic Impact Assessment of the Creative Sector in Kelowna” for conducting and publishing a fine study.

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