The Event Impact Calculator
In 2017, Louisville Tourism fully transitioned to the Event Impact Calculator (EIC).
This calculator was developed by Destinations International and Tourism Economics, an Oxford Economics Company. The EIC is the official industry standard for measuring the Estimated Economic Impact (EEI) of an event and is utilized by nearly 250 destinations worldwide. The calculator uses eight different sources of industry data, including city-specific data such as the average daily rate during the time of the event, local tax information, and more. A complete event impact analysis is developed to show the total net new spending in the destination. Louisville Tourism reports only the direct impact of each event.
Other key partners include Smith Travel, producers of the Smith Travel Report (STR), the U.S. Travel Association, Longwoods, SMG and more.
Currently, Louisville Tourism utilizes the convention/tradeshow, sports, and festival modules to produce Estimated Economic Impact calculations for events in each of these areas.
The EIC information is collected by the Louisville Tourism Convention Sales team during the booking process, with final Estimated Economic Impact numbers being processed and managed by the Destination Services team for all definite bookings. For festivals and events that are not booked through Louisville Tourism, published average attendance numbers are used.