Evaluating the Economic Impact of Events on Local Stakeholders
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
Evaluating the Economic Impact of Events on Local Stakeholders
Introduction
Events play a crucial role in driving economic growth and development in local communities. Whether it is a music festival, sporting event, or business conference, such gatherings attract visitors, generate revenue, and create employment opportunities. Evaluating the economic impact of events on local stakeholders is essential for understanding the benefits they bring to the community. This essay aims to explore the economic impact of events on local stakeholders and highlight the various ways in which these stakeholders are affected. It will discuss the direct and indirect economic effects, examine the benefits and challenges faced by different stakeholders, and present key considerations for assessing the overall economic impact of events.
Body:
Direct Economic Impact
Events have direct economic effects on local stakeholders, primarily through their spending and investment. Visitors attending events often spend money on accommodation, transportation, food, beverages, souvenirs, and other local goods and services. This spending injects money into the local economy, creating a multiplier effect as the initial expenditure ripples through various sectors. Local businesses, such as hotels, restaurants, and retail stores, directly benefit from increased demand during the event period.
Additionally, events often require infrastructure development and improvement, which can lead to increased construction activities and employment opportunities for local residents. Local suppliers and contractors also benefit from the demand for event-related services, including event planning, security, transportation, and equipment rental.
Indirect Economic Impact
The economic impact of events extends beyond direct spending. Indirect effects encompass the economic activities stimulated by the initial expenditure. For instance, increased demand for local goods and services may prompt businesses to expand their operations, hire additional staff, or invest in upgrades. This creates a positive ripple effect throughout the community, boosting income and employment levels.
Moreover, events can enhance the visibility and reputation of a locality, attracting future investment, tourism, and business opportunities. Positive media coverage and word-of-mouth recommendations from event attendees can contribute to a long-term economic impact, as the event acts as a catalyst for future economic growth.
Stakeholders and their Benefits
Events impact various stakeholders in the local community, each with distinct benefits. Local residents benefit from increased employment opportunities and income, particularly in sectors such as hospitality, transportation, and event services. Moreover, events often contribute to community development, as event organizers may invest in local infrastructure, public spaces, or social initiatives.
Local businesses, especially those in the hospitality and retail sectors, experience increased sales during the event period. This can have a significant impact, particularly for small and medium-sized enterprises (SMEs), which rely heavily on local customer spending.
The government also benefits from events through tax revenue generated from ticket sales, accommodations, and other event-related expenditures. These funds can be reinvested in public services, infrastructure, and community development.
Challenges and Considerations
While events offer significant economic benefits, there are also challenges to consider. Large-scale events may place additional pressure on local infrastructure, transportation systems, and public services. Adequate planning and coordination are essential to mitigate potential negative impacts and ensure that the event runs smoothly.
Furthermore, there is a need for careful evaluation of the economic impact. Accurate data collection and analysis are crucial to understanding the true effects of events on local stakeholders. Evaluations should consider both short-term impacts during the event and long-term effects on the local economy.
Conclusion
In conclusion, events have a substantial economic impact on local stakeholders, benefiting residents, businesses, and governments alike. The direct and indirect economic effects of events stimulate local spending, generate employment opportunities, and contribute to community development.
Evaluating the Economic Impact of Events on Local Stakeholders
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
|
|
Also, you can place the order at www.collegepaper.us/orders/ordernow / www.phdwriters.us/orders/ordernow
|
Do You Have Any Other Essay/Assignment/Class Project/Homework Related to this? Click Here Now [CLICK ME]and Have It Done by Our PhD Qualified Writers!! |
|
|
PLACE THE ORDER WITH US TODAY AND GET A PERFECT SCORE!!!