Study of Economic Impacts Derived from 2005 to 2009 Rural Texas Community Events and Factors that Predict Spending?

In this paper, we review the tourism impact from state supported events associated with Texas Rural Economic Development program and in the process of funding measure aspects of events that are found to be related to economic value. The economic values are the result of visitor spending and extrapolated to total event attendance creates economic value. Communities receiving funding were responsible for collecting visitor surveys to measure consumer spending as well as the community completing a survey to record descriptors of the event. The overall program results were that state support represented 14 percent of the total event investment and total event value from visitor spending created approximately $7.50 return for every $1 of state funding. However, this paper focuses on visitor spending and factors that contribute to economic impacts from those activities. The results indicate that there is a high positive correlation (Spearman Rho=.51) between miles traveled and visitor spending. Also found were significant low positive correlations for art events (r=.041) to higher spending while local heritage events had low negative correlations (r=-.038), which identifies lower spending. Visitors recognizing higher spending at events also visited surrounding communities and traveled over 60 miles to attend. Another target results was to measure the value of those traveling over 60 miles to attend, which resulted in recognized spending three-times above those traveling less than 60 miles ($129 versus $326 per person). In the area of advertising, web promotions were the only category related to higher spending values.