Economic Impact Analysis
Our Foundational Service Since 1984.
We offer Economic Impact Analysis services based on a unique statistical model, providing accurate and reliable data. Our meticulous approach has earned the trust of numerous clients who rely on our reports for tourism insights.
Dean Runyan Associates utilizes the Regional Travel Impact Model (RTIM) to aid state tourism offices in comprehending the various economic impacts of travel and tourism spending in their state. This proprietary input-output economic model combines data from federal, state, local, and private industry jurisdiction sources and survey data from private industry sources to produce accurate estimates at a local level. With our analysis, state tourism offices can provide their constituencies with consistent yearly data, run comparisons with other drivers of economic activity, and assess the health of their tourism industry.
Travel Oregon gets transparent, consistent state travel impacts to inform stakeholders.
A complete, detailed annual study of the economic impacts of Oregon’s travel industry dating back to 2003. Our analysis estimates all 36 counties, describing their local significance and the economic contribution to the state as a whole. In addition to the state and county figures, the report summarizes impacts at a custom regional level defined by Travel Oregon. Our report provides Travel Oregon with a comprehensive understanding of the health of the travel industry throughout the state.
Different regions appeal to different types of people - some prefer outdoor activities, while others enjoy city life or are there for work. Some places have restrictions on vacation rentals or municipal codes that limit the tourism industry. On the other hand, some regions invest heavily in developing tourist attractions and convention centers to attract more visitors. Dean Runyan Associates offers customized analysis to areas, helping them comprehend the impact of their policies and management decisions on the economic benefits of travel and tourism within their state. The data provided enables informed assessments and effective planning.
North Lake Tahoe stays abreast of the changes in its tourism-based economy.
Our work highlights one of the most important sectors of the US’s economy and society. We are mindful of the challenges organizations face in balancing the preservation of natural areas and the well-being of local communities while also facilitating the benefits of economic growth and job creation from travel and tourism. Our research helps organizations evaluate and communicate the economic benefits of travel and tourism to community stakeholders.
When people visit a city, event space, or special-use facility, they interact most with the destination. City officials must understand how crucial travel spending is for a particular location before distributing lodging tax revenues. Our analysis focuses on the destination and includes surveys and market profiles to help decision-makers utilize the benefits of tourism for their community. This, in turn, enables local stakeholders to support the destination’s goals.
Temecula Valley demonstrates the importance of tourism to its vibrant, artisan community.
Temecula Valley is an idyllic countryside destination in Southern California’s Wine Country. Although wine is the foundation of their economy, visitors can enjoy a range of artisan food shops, bistros, boutiques, and artistic venues. Our research report for the Temecula Valley Convention and Visitors Bureau (TVCVB) showed the relative impact of the many components of their tourist economy, provided insights to guide their marketing and tourism planning efforts, and gave them solid footing to move forward with commissioned activities to benefit the wider community.
Hosting a successful event can boost tourism by drawing in people from nearby areas and new visitors from other regions. Attendees will likely spend on accommodations, dining, and other local activities, which can positively impact the community. Additionally, events can raise awareness about local destinations and improve public perception.
While the potential benefits of an event are large, the efforts to put on a large-scale event should not be underestimated. To assist with this, Dean Runyan Associates can provide estimates, conduct surveys to understand attendees’ preferences better and advise destination coordinators on the most effective ways to communicate the event’s costs and benefits to their community.
Cheyenne Frontier Days gains valuable insights into the local economic impact of their rodeo
Cheyenne Frontier Days is a big deal. Their event constitutes the largest outdoor rodeo in the world and is a primary visitor attraction for the City of Cheyenne. But, they needed information about who was attending to communicate the event’s benefits to the local community. We combined our economic impact methodology with detailed surveys of event attendees to get Cheyenne Frontier Days the insights they needed.
“Visit California appreciates Dean Runyan’s commitment to excellence, flexibility, and attention to the many details that comprise their extensive analysis.”
Heather Huckeba,
Director of Research at Visit California
“Sixteen years ago as a new president & CEO the best advice I received was “know your numbers” – where you are today and where you’re going. Dean Runyan Associates has been through this journey with our destination from the beginning.”
Kimberly Adams,
Founding President & CEO at Visit Temecula Valley
“Visit California appreciates Dean Runyan’s commitment to excellence, flexibility, and attention to the many details that comprise their extensive analysis.”
Heather Huckeba,
Director of Research at Visit California
“The economic impact research put together by Dean Runyan Associates provides valuable data for measuring the positive economic effect that our event brings to our community. By conducting these studies on a regular basis, we are able to track and measure the growth in impact that our annual event has contributed both locally and regionally.”
Nicole Gamst,
Chief Marketing Officer at Cheyenne Frontier Days
Contact Us for an Economic Impact Analysis or Any Services Listed Below.
