The Economics of Sustainable Events and its Impact on Local Communities

By:

During 1999-2001, and through dialogues involving stakeholders from government, the private sector and civil society, past and existing strategic planning experiences were analysed, key issues and challenges identified, and principles for best practice developed. This led to consensus on the final text of the Policy Guidance ‘Strategies for Sustainable Development: Guidance for Development Cooperation’ (OECD-DAC 2001a). In 1992, Agenda 21 called for all countries to develop national sustainable development strategies (NSDSs). In November 2001, a UN International Forum on National Strategies for Sustainable Development (held in preparation for the 2002 World Summit on Sustainable Development, WSSD) agreed guidance on National Sustainable Development Strategies, (NSDS) which confirms almost identical ‘elements’ of successful strategies for both developed and developing countries alike. The Rio+5 assessment led governments to set a target of 2002 for introducing national sustainable development strategies by 2005. In 2007, The British Standards Institution (BSI) invited event organisers, venues and suppliers to trial the world’s first national standard in sustainable event management.

In the events industry economic impact studies are undertaken for a variety of purposes, frequently they consider elements of cost-benefit analysis concerning the event in comparison to income generation and visitor expenditure. Festivals and events give greater economic sustainability to the host city and raise the profile by developing employment, additional trade and business development.

It could be argued that a catalytic effect ensues whereby an increase in investment additional monies are made available for local infrastructure and long term promotional benefits are created. Further to this other tangible benefits are; improved tax revenues and increased property prices, with subsequent connections to the community. Significant economic benefits provided by outdoor events to the host city can create the potential of high-status profiles and increased tourism potential and awareness for the future.

Outdoor events such as the Bradford Mela and the Leeds West Indian Carnival not only bring economic benefits to the host city, they also provide the city with opportunities to market themselves nationally and internationally. The festival or event brings people from a wide range of backgrounds to the city for the duration of the event.

This paper aims to explore the link between economic growth and events and will examine the potential benefits that events may bring to the hosting community. In order to demonstrate this, Ryan (1991) claims that an impact assessment should seek to address the issues of how important tourism is to the area and who the economic benefits affect. This paper thus examines the sustainability such benefits as employment, additional trade and business development, investment in infrastructure, long term promotional benefits, tax revenues and increased property prices, in relationship to the local community. Moreover, the paper is also briefly going to look at the sustainability impacts caused by the outdoor events to the host cities.

Stream: Economic Sustainability

Paper: A paper has not yet been submitted.

Razaq Raj is a senior lecturer in Events Management at Leeds Metropolitan University. His research interests include Community events, outdoor events, economic impacts, religious tourism, cultural festivals and events sustainable tourism, cultural Diversity in Events Management and financial management for events. He has published work on special events, financial management in events, information technology, events sponsorship, cultural festivals and events sustainable tourism and religious tourism in various Journals. He has delivered papers at the International conferences and published books in events management and religious tourism over the last 8 years.

James Musgrave experienced lecturer in development of Foundation Degree & online Masters qualification,Design of full, part time subject specific units at Level 1 & 2, 3 and MSc. Implemetation and maintenance of quality procedures and teaching practices in line with Leeds Met University.