ABSTRACT
Events have become a fundamental component of the tourism strategy of many communities where events are a key element of the destination proposition. The chapter examines the fundamental distinction between economic contribution, impact and benefits of events. The chapter critiques the way in which the economic contribution of events has often been over exaggerated. The chapter examines the concepts involved in the economic impact of events. The value of Computer Generated Equilibrium models in assessing event impacts is reviewed. The various components of economic impacts that need to be considered in assessing economic impacts are also reviewed. Other techniques, such as cost–benefit analysis, are also examined.
