Sport Finance Final Exam Questions And Answers (Verified And Updated)

Sport Finance Final Exam Questions And Answers (Verified And Updated) reasons why destinations find sporting events appealing - answerincreased community visibility, stimulation development, entertainment for residents, psychic impact the primary motivation to host sporting events - answereconomic impact where does the economic mat come from? - answermoney originating from outside the region and money that stays in the local community what are the three types of economic impact? - answerdirect, indirect, and induced direct economic impact - answerthe direct consequences of TOURISTS spending money indirect economic impact - answerwhen BUSINESS OWNERS spend tourists expenditures locally induced economic impact - answerwhen business owners pay their employees and those EMPLOYEES spend the tourist expenditures locally how to we obtain the information about economic impacts? - answersurveys / questionnaires what type of information is needed? - answerexpenditures, residency, and primary reason for visit casuals - answerout-of-town visitors that's primary reason for visit is not the athletic event and they are not included in economic impact studies guiding principles of economic impact studies - answerexclude local residents, exclude casuals, and only use expenditures in the study area some purposes of economic impact studies - answerdetermines expenditure level of tourists; estimates impact on sales, income, taxes, and jobs; informs general public, economic development officials, and legislatures; lure event sponsors; event continuance; identify area of competitive advantage; and JUSTIFY PUBLIC SUBSIDIES what is the economic impact of professional sports teams and facilities? - answersmall to no impact what is the economic impact of hallmark events like the Olympics? - answershort-term negative impact