Events Industry's Impact on Regional Development

1275 WordsJul 17, 20186 Pages
After researching the impacts events have on regional development I have come to agree with the statement ‘The events industry is an effective and appropriate vehicle for facilitation of regional development’. The significance of this thesis is to critically discuss and demonstrate an understanding of the relationship between the events industry and regional development while also providing an understanding of the history of events and the increasing significance of the event industry in contemporary society. Real life examples from around the world are used to recognize and justify the event industry as part of the tourism sector and explore specific implications to event management. Various sectors of the events industry are identified…show more content…
Criteria states Hallmark (high-profile) events must enhance awareness and appeal as well as profit the destination and have international or national audiences that provide significant economic and social benefits. Another high-profile event in Australia is the Rip Curl Pro surfing event, which attracts international and national audiences from across the world. Jones (2005) stated that significant economic benefits including additional regional demand and exposure were achieved through high-profile events such as the Rip Curl Pro. High-profile events attract high number of visitors and produce various economic benefits. As Philippa (2011) announced, ‘The Sydney Royal Show attracts over 900,000 visitors each year and has an economic impact of over $500 million to NSW in terms of employment, tourism, agricultural development, infrastructure and transport’. Another source also confirmed their findings indicated that high-profile events socially embedded configuration in local life that facilitates the regional development (Ziakas & Costa, 2011). High-profile events create a multicultural environment that financial benefits the region, Philippa (2011) also claims ‘$24.5 million was the estimated attribute to interstate and international visitation from countries such as China, Hong Kong, Korea and Japan’. High-profile events increase permanent levels of local interest and participation in types of activities associated with the
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