Download STEAM Relaunch 2016 v2 Tony Fisher SEC 2016

STEAM ReLaunch
Tony Fisher
Executive Director, Research & Analytics
Canadian Sport Tourism Alliance
Presentation Outline
• STEAM Background
• Visitor Expenditure Model Adjustments
• Economic Impact Model Adjustments
QUESTIONS:
• Q&A at end of session
• Please email or call me
CSTA Objective
• Provision of world class tools that are:
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Relevant
Reliable
Accurate
Up-to-date
STEAM – Relevance
• Since its development in 2002, STEAM has
become widely adopted within the sport tourism
industry by:
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Sports
Municipalities
Provinces
Increasing number of festivals
• STEAM is also recognized by federal partners
STEAM PRO
• Recent & upcoming examples:
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NBA All-Star Toronto 2016
FIFA Women’s World Cup Canada 2015 (& 2014)
FIS Ski Tour Canada 2016
IIHF Women’s World Championship 2016
Red Bull Crashed Ice Edmonton 2015
JUNO Awards 2015 & 2016
CORK Sailing Regatta Kingston 2015
Chasing Summer Music Festival Calgary 2015…
STEAM PRO - International
• CSTA has also developed international STEAM
Models
– Bahamas Ministry of Finance
– Sport Jamaica / Jamaica Tourism Board
STEAM Updates
Current version of STEAM is actually STEAM version 3
Year
Updates & Adjustments
Version 1
2002
Launch of STEAM
Version 2
2006
Switch from SIC to NAICS, visitor profile updates,
introduction of STEAM PRO
Version 3
2011
Update of I/O multipliers, visitor profile updates
Version 4
2016
Update of I/O multipliers, visitor profile updates,
GRATS
STEAM Structure Review
How STEAM Works
Participants
Spectators
Visitor
Spending
Profiles
Visitor
Expenditure
Media &
VIP
Visitor Expenditure Model
How STEAM Works
GDP
Visitor
Expenditure
Jobs
Event
Expenditure
Economic
Multipliers
Economic
Impact
Operations
Budget
Taxes
Wages &
Salaries
Capital
Budget
Economic Impact Multipliers
How STEAM PRO Works
GDP
Visitor
Expenditure
Jobs
Event
Expenditure
Actual On-Site
Operations Spending
Budget
Capital
Budget
Economic
Multipliers
Economic
Impact
Taxes
Wages &
Salaries
The same economic impact multipliers
Visitor Expenditure Model Adjustments
• Through our STEAM PRO program, we have
developed Canada’s largest database of sport
tourism visitors
• STEAM 2016 update was prepared with 28,000
visitor survey responses
STEAM Expenditure Model Adjustments
• Most significant change is introduction
of Event Type
– Adult participant
– Youth participant
– Spectator based
– Marquis* (use with caution)
– General
STEAM Expenditure Model Adjustments
• Many other changes introduced
– Year of event extended
– Changes to host community price levels
(overnight)
– Host community price levels (sameday)
– Improved data entry for sponsored participants /
Media / VIP
– Changed Media / VIP data entry
– Revenues now greater than expenditures
Economic Impact Multiplier Adjustments
Economics Background
Induced
(Re-spending of wages, salaries & profits)
Indirect
(Supply of goods & services to produce Direct)
Direct
(Initial Expenditure)
E/I Modelling - Background
• Input / Output Models (like STEAM, TEAM, TREIM,
IMPLAN, etc.) make use of Statistics Canada
provincial supply/use tables
• S/U tables are like a cookbook of how to produce the
goods and services in the Canadian economy
– They actually go beyond the inputs required for production
of goods and cover taxes, inter-provincial trade, imports
(and more!)
Statistics Canada Input/Output Tables
• However:
– No regional breakdown (provincial level only)
– Taxes in model are incomplete
– Until recently, induced EI only at national level
E/I Modelling - Background
• Statistics Canada has developed new
products:
– Induced E/I multipliers at provincial level
– Government Revenue Attributable to Tourism
Study (GRATS)
Economic Impact Multiplier Adjustments
• Limit induced economic impact to equal
StatCan I/O model
• Incorporate GRATS methodology for
calculating taxes
• Show EI for Community, Province and Canada
Impact of these Adjustments
• Visitor spending, in most cases, has gone up
• Overall economic impact has gone down,
particularly at the municipal level
• Effect will be smaller for operational & capital
assessment
Size of Adjustment (and Why)
• GDP/Industry Output – 20% lower (induced round effects
much smaller - constrained by Statistics Canada multipliers)
• Wages/Employment – 33% lower (lower induced round, lower
wage share, higher average wages)
• Taxes – 45% lower (no local property taxes from business +
lower basis for taxes incl. wages, GDP + induced round)
Next Steps:
• STEAM (v4) will be available starting
May 1, 2016
• Current STEAM (v3) will be available in parallel
until December 31, 2016
• You will need to re-create your projects in
STEAM v4 (no automatic conversion)
Communicating Changes
• Inclusion of new data from Statistics Canada has resulted in a
decreased impact for the same level of input
• Results more accurately describe the economic impact and tax
changes associated with an event
• Improved methodology based on statistical “gold standard”
gives greater integrity to the model in the face of critics
• CSTA will be developing a communication strategy for
management of these changes
STEAM
V3
StatCan
I/O
Tables
STEAM
V4
StatCan
I/O
Tables
GRATS
QUESTIONS / COMMENTS?
STEAM ReLaunch
e: [email protected]
t: 613.266.6964