Convention and Visitors Bureau Releases Monthly Economic Impact Projection
The Augusta Convention & Visitors Bureau (CVB) and the Augusta Sports Council (ASC) have announced that visitors attending meetings, reunions, events and sporting events in Augusta this month will generate at least $471,479.78 in total estimated economic impact (EEI) during the month of May.
The CVB and ASC have announced two events this month: The 7th Annual GoodBoats for Goodwill Dragon Boat Race, which took place last weekend, and the East Coast Operators’ C.B. Radio Club. These are groups the Augusta CVB or ASC have worked with at some point in the site selection and planning phase of the organizations’ events.
April and May events organized by the CVB and ASC brought an estimated impact of $4.6 million and $3 million, respectively.
Total EEI is calculated based on research commissioned by both the Georgia Department of Economic Development and Destinations International, in conjunction with globally recognized research vendors, the U.S. Travel Association and Tourism Economics.
Tourism Economics, a partner company of Oxford Economics, created the industry standard in event economic impact analysis using localized metrics that are updated annually.