Media and the EIC
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Stuck on how to share information on Destinations International's Event Impact Calculator with the media in your community? Take a look at how Louisville Tourism is doing it:
Calculating Individual Economic Impact of Louisville’s Conventions and Events
In 2017, the LCVB transitioned to a new EIC (Economic Impact Calculator) which takes into account more variables than previous models.
The Destinations International Event Impact Calculator (EIC) is the official industry standard for measuring the Estimated Economic Impact (EEI) of an event. Once event specific data is entered into the system (dates, attendance, room nights, number of exhibits, etc.), the calculator uses eight different sources of industry data (including city-specific data such as average room rate) to compile a complete event impact analysis.
This model uses data provided by the organizing body such as anticipated room nights, attendance, ticket sales, length and type of event. City information such as average room rate is supplied by Louisville Tourism and can vary based on time of year, type of business and other factors. For example, the weighted measures can vary between type of event such as Tradeshow, Sporting or Festival.
The EIC information is collected and distributed by the Louisville Tourism Convention Sales and Services team for booked business.