Abstract:
Event tourism concepts and the economic impact of sports events to New Zealand are reviewed. Sufficient doubt is raised concerning economic impact models to allow exploration of a sports event from an investment perspective.
The 1992 AMP Golf Open was selected for a case study analysis, using an investment framework. The findings indicate that a sports event can be treated as an investment decision, particularly if investors focus on establishing pre-required returns, carefully evaluate potential risks and assess the opportunity cost associated with the investment.
With regard to the future of New Zealand sports events, there is a need for a cohesive approach which classifies events by their size, commercial viability, economic, environmental, political and social impacts. A New Zealand Events Corps, with representation from sport, tourism, commercial and public bodies, should be established to address these issues.
