Abstract
This study examines the economic contribution of the Canfield Fair on the local community. The fair accounted for $13,419,332 in new money generated in the local economy and total expenditures of $16,874,927. Out of this total, $9,578,936 was generated from out-of-town visitors, versus $7,295,991 from local attendees. The initial amount of $9,578,936 spent by visitors created direct, indirect, and induced impacts within the local economy. The direct effect of this spending as estimated by an IMPLAN input/output model was $8,166,956, with $2,880,940 and $2,371,436 as indirect and induced impacts respectively, for a total aggregate effect on local earnings of $13,419,332.
Keywords
Canfield Fair, Economic Impact, IMPLAN, Local Economy
Recommended Citation
Kim, Sungsoo and Dombrosky, James
(2016)
"Economic Impact of Small Scale Event to the Local Economy: Case of Canfield Fair,"
Journal of Tourism Insights:
Vol. 7:
Iss.
1, Article 7.
Available at: https://doi.org/10.9707/2328-0824.1057
Available at:
https://scholarworks.gvsu.edu/jti/vol7/iss1/7