South African Journal of Economic and Management Sciences
On-line version ISSN 2222-3436
Print version ISSN 1015-8812
VAN WYK, Lukas; SAAYMAN, Melville; ROSSOUW, Riaan and SAAYMAN, Andrea. Regional economic impacts of events: A comparison of methods. S. Afr. j. econ. manag. sci. [online]. 2015, vol.18, n.2, pp.155-176. ISSN 2222-3436. http://dx.doi.org/10.17159/2222-3436/2015/v18n2a2.
The purpose of this paper is to provide an overview and comparison of three related methods for modelling the short-run economic impact of events, namely the partial Input-Output (I-O), Social Accounting Matrix (SAM) and Computable General Equilibrium (CGE) models. An analysis of strengths and limitations of these different methods suggests that it may be considerations such as the underlying assumptions specific to each model, data collection, expected output, research objectives, and costs involved that determine the choice of modelling framework. Data from surveys conducted at the Aardklop National Arts Festival during 2010 were used in the comparative analyses, which were executed by means of two regional (i.e. provincial-level) models and one small-region (i.e. place-specific) model constructed for the small town.
Keywords : event tourism; regional CGE modelling; input-output models; social accounting models; South Africa.