Research Paper

Calvin C. Cunningham

7 April 2017

Liberty University

Abstract

Customarily, mega-sporting activities are assessed by their financial influence on the host location. Nevertheless, there exists issues concerning the reliability and validity of financial effect as a measure of success for these activities, and in actuality some research has established that mega-events add little to nothing to the regional economy. The main objective of this study is to discuss the financial management issues for facilities and events. This is attended to through examining the difficulties and potential hazards associated with promoting events. Approaches for succeeding in these initiatives are discussed along with strategies for putting into action measures to gauge the actual impact of major events.

Events and Facilities Issues Outline

Introduction

Taking into consideration the four listings of tourism - accommodations, beverages and food, transport and attractions, sport activities offer a considerable impact. Sport activities are among the main attractions that impact tourists to check out a destination, which usually has a positive influence (Fried, 2015). Inherent relationships between sport activities and tourism consequently offer improved consciousness and an improved impression for the host destination. Moreover, there exist several difficulties important events encounter in generating a positive impression for a destination. Destination marketing thus has developed into important element of hosting activities through growing past conventional production-based activities to broadened emphasis and reliance upon services in areas such as tourism, recreation, and hospitality.

Supporting idea

Brigham & Ehrdardt (2013) argue that destination branding is conceptualized in three major domains:

1. Branding associated to the manufacturing, development, as well as administration of a brand - which includes setting up and overseeing the branding procedure;

2. Branding concentrated using and using the brand - which includes the comprehending and decryption of the branding procedure.

3. Branding as a negative or positive element on the significant social, economic, and also ecological effects.

Second supporting idea

Parent & Smith (2013) highlight several difficulties important events encounter in generating a positive impression for a destination.

Cluttered sponsorship environment

One particular challenge is creating an influence on the audience of the affair. There is a commonly held misunderstanding that when an occasion is organized by a certain destination, positive impression links of the destination can actualize easily, and individuals will show up at the occasion or view it by means of any range of broadcast channels (Langston & Lauge-Kristensen, 2013).

Conclusion

References

Fried, G. (2015). Managing Sport Facilities, 3E. Human Kinetics.

Brigham, E. F., & Ehrhardt, M. C. (2013). Financial management: Theory & practice. Cengage Learning.

Parent, M. M., & Smith-Swan, S. (2013). Managing major sports events: Theory and practice. Routledge.

Langston, C., & Lauge-Kristensen, R. (2013). Strategic management of built facilities