The Impacts of Temporary and Anticipated Tourism Spending

Allan, Grant and Lecca, Patrizio and Swales, Kim (2014) The Impacts of Temporary and Anticipated Tourism Spending. Discussion paper. University of Strathclyde, Glasgow.

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Abstract

Part of the local economic impact of a major sporting event comes from the associated temporary tourism expenditures. Typically demand-driven Input-Output (IO) methods are used to quantify the impacts of such expenditures. However, IO modelling has specific weaknesses when measuring temporary tourism impacts; particular problems lie in its treatment of factor supplies and its lack of dynamics. Recent work argues that Computable General Equilibrium (CGE) analysis is more appropriate and this has been widely applied. Neglected in this literature however is an understanding of the role that behavioural characteristics and factor supply assumptions play in determining the economic impact of tourist expenditures, particularly where expenditures are temporary (i.e. of limited duration) and anticipated (i.e. known in advance). This paper uses a CGE model for Scotland in which agents can have myopic- or forward-looking behaviours and shows how these alternative specifications affect the timing and scale of the economic impacts from anticipated and temporary tourism expenditure. The tourism shock analysed is of a scale expected for the Commonwealth Games to be held in Glasgow in 2014. The model shows how “pre-shock” and “legacy” effects – impacts before and after the shock – arise and their quantitative importance. Using the forward-looking model the paper calculates the optimal degree of pre-announcement.

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• Item metadata

  Item type:	Monograph(Discussion paper)
  ID code:	68223
  Dates:	Date Event 2014 Published
  Notes:	Published as a paper within the Discussion Papers in Economics, No. 14-06 (2014)
  Subjects:	Social Sciences > Economic Theory
  Department:	Strathclyde Business School > Economics
  Depositing user:	Pure Administrator
  Date deposited:	04 Jun 2019 09:07
  Last modified:	09 Apr 2024 04:43
  URI:	https://strathprints.strath.ac.uk/id/eprint/68223