Repucon Consulting are regularly engaged to undertake Economic Impact Studies at an organisational level, enterprise level and event impact level. Our principals have been authors to recent Economic Impact Studies such as Shannon Group, Shannon Airport Impact on Regional Tourism, Shannon Foynes Port Company, Impact of major events at Thomond Park and a wide range of tourism and cultural festivals. We were recently engaged to undertake a review of the potential economic impact of hosting a major global golf event in Ireland.
The economic impact analysis of hosting a major golf event was created using a bespoke impact model reflecting a range of potential outcomes e.g. national and regional economic impacts. The study examined the impact of the previous hosting of the event internationally, associated footfall and the level of international visitors attracted to the event. A wide range of social impacts were also identified and applied to the model through our bespoke social impact modelling approach.
The plan established the context for the value generated by hosting a major golf event in a region combined with the projected overall economic impact and the associated social value generated for the wider area. The impact assessment was used as part of building a strategic business case to attract future funding to support the investment decision to host the event in a region.