Published: Monday, Aug. 1 2011 5:00 p.m. MDT
I am always skepticle of "direct financial impact" figures. It is easy
to estimate how much each individual will spend to attend the event; however, a
significant amount of that money does not end up at the location of the event.
Airplane tickets, for example, make up a significant portion of that figure.
Those monies go to national airlines rather than locally owned companies. The
same is true with hotels, restaurants, and car rentals. People don't come to a
convention and stay in a locally owned bed and breakfast, they stay at the
Hilton and eat at the national restaurants they are familiar with. Participants
frequent bars and ride taxis, but the profits of fuel and alcohol production go
out of state. Hosting conventions does bring money into the economy, and are an
excellent stimulant to the local economy and (sales tax revenues), just not as
significant as the "direct financial impact" numbers would suggest.
RE: Floyd "Hosting conventions does bring money into the economy"You're forgetting that those national restaurants pay local wages and
taxes within the state. Without hosting conventions those people would be
without jobs. The employees of those businesses go out and spend their wages
again and again within the city and state. You can be skeptical of
anything you want, but these conventions bring in millions and help local
economies with jobs that wouldn't overwise be there.
Local wages are usually minimum wages. All the out door friendly hiking, biking,
sking, and camping do not bring in good family supporting jobs, these activities
just produce minimum wage jobs. Waitress, hotel staff, cleaning and sweeping,
changing tires, washing cars, fixing broken bikes, selling hiking boots, etc. It
is all low wage poor income jobs.
County Mom. So we discontinue these promotions in favor of our kids staying
inside playing video and other techy games that are immobilizing our kids with
one of the byproducts being a surge in diabetes.??WASP
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