Leveraging sport events: fundamentals and application to bids
The first leveraging model (Chalip, 2004), which derives from work on the Sydney Olympic Games (Brown, Chalip, Jago, and Mules, 2002; Faulkner et al., 2000) and the Gold Coast IndyCar race (Chalip and Leyns, 2002), focused on economic leverage. The model (presented in Figure 15.1) recognizes that the portfolio of events at a host destination is a leverageable resource. In other words, through strategic action, each event provides opportunities to create economic advantage through event visitors and trade, as well as through event media. Further, events can be cross-leveraged so that they create synergies, particularly in marketing the host destination. Specifically, event visitors and event trade provide opportunities to optimize total trade and revenue by enticing visitor spending, lengthening visitor stays, retaining event expenditures, and enhancing business relationships. Event media provide opportunities to showcase the destination via event advertising and reporting, and to use the event in destination advertising and promotions. The original model (Chalip, 2004) details the model’s logic, the means to pursue opportunities, and the steps to enable formulation of the requisite strategies and tactics. A more detailed specification of the strategies and tactics for enhancing the host community’s image by building its brand through events, particularly event media, is provided by Chalip and Costa (2005).