Economic impact study is the research into the dollars generated by an industry and how
these dollars impact the Economy through direct spending and the indirect impact of
additional job creation and the generation of income and tax revenue.
In the travel, transport, and hotel context, "economic impact study" refers to a research study that examines the economic effects of a particular industry or business on a local, regional, or national economy. These studies are typically conducted by government agencies, research firms, or consulting companies and they are used to assess the economic impact of the travel and transportation industry, including hotels, airlines, cruise ships, and other related businesses.
For example, an economic impact study of a new hotel development in a small town might examine the number of jobs created by the hotel, the amount of tax revenue generated, and the overall impact on the local economy. Similarly, an economic impact study of a new airport expansion might examine the number of jobs created by the airport, the amount of tax revenue generated, and the overall impact on the local economy.
Economic impact studies are used to evaluate the overall economic benefits and costs of a particular project or industry, and can be used to make informed decisions about future investments or policy changes.
Economic impact studies also help to identify the potential economic benefits and drawbacks of new developments, and can be used to plan for the future and to make informed decisions about investments and infrastructure projects.
Overall, economic impact study in the travel and transportation context refers to research studies that examine the economic effects of a particular industry or business on a local, regional, or national economy, and they are used to evaluate the overall economic benefits and costs of a particular project or industry, and to make informed decisions about future investments or policy changes.
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