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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: • • • • Relevant Reliable Accurate Up-to-date STEAM – Relevance • Since its development in 2002, STEAM has become widely adopted within the sport tourism industry by: – – – – Sports Municipalities Provinces Increasing number of festivals • STEAM is also recognized by federal partners STEAM PRO • Recent & upcoming examples: – – – – – – – – 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