Economic Impact of Curling in Canada: 2016 Study
The economic impact of curling in Canada in 2016 was significant, with $351 million generated across the country, supporting $584 million in economic activity. The sport contributed $186 million in wages and salaries, supported 3,434 jobs, and generated a total net economic activity of $315 million. Curling also supported tax revenues of $89 million across various levels of government. The study evaluated manufacturing of curling equipment, club operations, participant expenditures, and the impact of hosting championships.
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Economic Impact of Curling in Economic Impact of Curling in Canada Canada 2016 2016 June 2017
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 2 Contact Contents Summary: Economic Impact of Curling in Canada Tony Fisher Research consultant for: Canadian Sport Tourism Alliance Background & Methodology www.canadiansporttourism.com Detailed Findings Economic Impact Results Appendices
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 3 Summary: Economic Impact of Curling in Canada 2016 Summary: Economic Impact of Curling in Canada 2016 The overall impact associated with the manufacture of curling equipment in Canada, club operations & capital investment, participant tourism expenditures and the impact from hosting national and provincial curling championships $351 million across Canada in 2016, supporting $584 million of economic activity in the country. Curling supported $$186 million in wages and salaries and 3,434 jobs. The total net economic activity (GDP) generated by the curling in Canada in 2016 reached $315 million. Curling in Canada supported tax revenues of $89 million across all levels of government including federal tax revenues of $38 million $35 million in taxes accruing to provincial governments and $10 million in revenue for municipal governments. By the numbers: Economic Impact of Curling in Canada 2016 800,000 attendance at Curling Canada events $55.6 million of tourism spending attributable to Canadian club curlers 3,400 jobs supported by curling $584 million in economic activity across Canada 50,000curlers travelled to participate in bonspiels $186 million of wages and salaries supported by curling $315 million boost to provincial GDP $89 million in taxes supported across Canada
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 4 Background Background The economic impact of curling in Canada has been evaluated using 4 distinct domains: Manufacturing of curling equipment Impact of curling club operations & capital investment Impact of curling participants including: Retail purchases of curling equipment Travel to participate in Bonspiels Impact of Curling Canada championships events, including provincial feeder events. Impacts have been measured using the Canadian Sport Tourism Alliance s STEAM2.0 and STEAM PRO2.0 models along with primary data collected from clubs, curlers, curling goods manufacturers and attendees at curling events. 1The Canadian Sport Tourism Alliance s (CSTA s) Sport Tourism Economic Assessment Model, Professional version (STEAM PRO 2.0) was used to generate the economic impact estimates detailed in this report. STEAM PRO, which was developed in 2006, is a model that has been designed to incorporate the results of primary data collected from event visitors and the budget / capital expenditures of event organizers and others to prepare economic impact assessments. The model, updated in 2017 is based on the Canadian Tourism Research Institute s (CTRI - a branch of The Conference Board of Canada) TEAM model, which is the most widely used tourism economic impact model in Canada. The results of STEAM PRO 2.0 are fully consistent with the CSTA s STEAM 2.0 model. A more detailed description of STEAM PRO 2.0 is contained within Appendix 1.
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 5 1. Manufacture of Curling Equipment 1. Manufacture of Curling Equipment There are five primary curling manufactures in Canada, with the top 3, Asham, Goldline, and Balance Plus accounting for more than 54% of sales. Alsong with BalancePlus, Tournament, Ultima, and Olson. The total value of the Canadian retail market was developed through a study purchased from Ipsos Reid which indicated that the 2013 / 2014 curling market averaged $35 million. A survey of curling manufactures undertaken as part of this study indicated that an average of 85% of curling goods manufacturing is for the Canadian market, indicating a total production of $42.9 million after adjusting for inflation. Economic Impact of Curling Manufacturing 2016 Value of Production Gross Output GDP at Basic Prices Jobs $42.87 Million $86.65 Million $34.31 Million 384.9 1Economic impact assessment for this section were developed using Statistics Canada s National Multipliers for NAICS 3399 Other miscellaneous manufacturing
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 6 2. Curling Club Operations & Capital 2. Curling Club Operations & Capital As part of the research, a through analysis of 103 financial statements of curling clubs across Canada, ranging from small rural clubs to large urban clubs. The analysis looked at club expenditures on: Wages & Salaries Utilities Building Maintenance Marketing Bonspiel related costs Insurance Property Taxes Food & Beverages Capital Investment Average expenditures PER SHEET were calculated for rural and urban clubs in each province and then multiplied by the actual number of curling sheets in each category, with the aggregate Canada wide results shown in the table below: Marketing / Promotions / Advertising Total Food Service / Bars Property taxes Operational Expenses Wages Utilities Bonspiels Insurance Capital Maintenance Rural $12,056,572 $7,964,553 $10,794,116 $7,846,457 $263,347 $1,292,416 $1,873,998 $525,463 $42,616,922 $9,285,482 Urban $19,841,259 $28,048,138 $16,982,084 $9,614,422 $858,575 $2,759,365 $1,702,056 $2,865,829 $82,671,727 $21,961,728 Total $31,569,567 $37,066,110 $27,262,316 $17,511,893 $1,109,398 $4,317,568 $3,517,809 $3,756,933 $126,111,593 $32,122,408
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 7 2. Curling Club Operations & Capital 2. Curling Club Operations & Capital Provincial Detail Provincial Detail Marketing / Promotions / Advertising Prov / Region Sheets Food Service / Bars Property taxes Total Wages Utilities Maintenance Bonspiels Insurance Operations Capital BC 461 $3,832,913 $4,500,257 $3,309,963 $2,126,148 $134,694 $524,203 $427,103 $456,135 $15,311,415 $3,900,034 AB 767 $6,377,102 $7,487,413 $5,507,031 $3,537,430 $224,100 $872,156 $710,603 $758,906 $25,474,741 $6,488,777 SK 563 $4,680,976 $5,495,976 $4,042,319 $2,596,575 $164,496 $640,187 $521,603 $557,059 $18,699,191 $4,762,949 MB 417 $3,467,082 $4,070,732 $2,994,044 $1,923,218 $121,838 $474,171 $386,338 $412,600 $13,850,022 $3,527,797 ON 1063 $8,838,148 $10,376,949 $7,632,300 $4,902,592 $310,585 $1,208,737 $984,838 $1,051,783 $35,305,932 $8,992,921 QC 188 $1,563,097 $1,835,246 $1,349,833 $867,062 $54,929 $213,775 $174,176 $186,016 $6,244,135 $1,590,470 Atlantic 297 $2,469,360 $2,899,298 $2,132,449 $1,369,774 $86,777 $337,719 $275,162 $293,866 $9,864,404 $2,512,603 North 41 $340,888 $400,240 $294,378 $189,093 $11,979 $46,621 $37,985 $40,567 $1,361,753 $346,858 Total 3,797 $31,569,567 $37,066,110 $27,262,316 $17,511,893 $1,109,398 $4,317,568 $3,517,809 $3,756,933 $126,111,593 $32,122,408
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 8 2. Curling Club Operations & Capital 2. Curling Club Operations & Capital Economic Impact Economic Impact Municipal Provincial Canada Initial Expenditure $151,745,332 $151,745,332 $151,745,332 GDP $103,599,586 $139,053,137 $142,681,270 Wages & Salaries $74,345,701 $90,737,972 $92,799,457 Employment 1,423.3 1,622.8 1,657.3 Industry Output $195,311,228 $223,470,923 $230,593,557 Taxes $27,765,705 $35,197,792 $36,071,829 Federal $11,892,256 $15,316,094 $15,717,985 Provincial $10,344,785 $13,350,827 $13,719,788 Municipal $5,528,664 $6,530,871 $6,634,056
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 9 3. Participant Spending 3. Participant Spending Tourism & Retail Tourism & Retail Participant spending on curling is attributable to two sources: expenditures on curling equipment and spending while travelling to Bonspiels. The spending made by curling participants on items such as club membership dues and food and beverage expenditures within the clubs are captured as revenue sources offsetting the expenses in section 2. Expenditures on curling equipment such as shoes, brooms, clothing, etc. were captured through the Ipsos Reid survey, with the 2016 inflation adjusted total reaching $36.5 million. The economic impact of travel associated with club level bonspiels is substantial, and was captured through an on-line survey completed by curling clubs across the country. The survey found that the average curling club hosted 8.58 bonspiels over the season, with each bonspiel featuring an average of 22.2 teams, for a seasonal total of 190.8 teams. The survey also found that 25.8% of participants travelled more than 40km, one-way, to participate in the event. Working through the calculations shows that there were a total of 180,300 out of town visits made while participating in local curling bonspiels. Curling events Out of town teams Out of town visits Clubs Teams BC 91 781 17,347 4,483 17,933 AB 174 1,494 33,168 8,572 34,290 SK 156 1,339 29,737 7,686 30,743 MB 104 893 19,825 5,124 20,495 ON 239 2,051 45,559 11,775 47,099 QC 62 532 11,819 3,055 12,218 Atlantic 75 644 14,297 3,695 14,780 North 14 120 2,669 690 2,759 Total 915 7,854 174,419 45,079 180,318
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 10 3. Participant Spending 3. Participant Spending Tourism & Retail Economic Impact Economic Impact Tourism & Retail Municipal Provincial Canada Initial Expenditure $90,620,909 $90,620,909 $90,620,909 GDP $45,269,110 $60,845,473 $73,753,366 Wages & Salaries $29,379,796 $37,744,911 $44,758,837 Employment 599.5 724.9 839.6 Industry Output $117,371,851 $134,997,317 $161,104,555 Taxes $20,080,126 $23,472,299 $26,209,412 Federal $9,116,585 $10,615,325 $11,902,470 Provincial $9,593,482 $11,128,441 $12,156,607 Municipal $1,370,059 $1,728,533 $2,150,334
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 11 4. Curling Canada Championship Events 4. Curling Canada Championship Events Each year Curling Canada, along with its provincial partners host provincial, national, and international championships throughout the country. On an annual basis, Curling Canada sanctions and conducts 12 national curling championship events, as well as the Home Hardware Canada Cup of Curling, World Financial Group Continental Cup of Curling and one of the Ford World Curling Championships (alternating men and women each year). Additionally, there are a total of 168 provincial and regional championship hosted throughout the country. Over the past decade, the Canadian Sport Tourism Alliance has conducted on-site economic at more than a dozen events over the past 8 years and has updated the information from those studies to reflect the championship events hosted in the 2016-2017 season. In total, Curling Canada and provincial championship events has a total attendance of approximately 800,000 and attracted approximately 50,000 out of town visitors to the host communities. The impact from Curling Canada and provincial events varies from year to year and depends on which events are hosted and where they are hosted. Realistically, overall attendance, and the associated impacts, could range between 700,000 and 1,000,000 in overall attendance. Provincial Canada Initial Expenditure $65,753,155 $65,753,155 GDP $53,007,306 $64,252,392 Wages & Salaries $23,862,302 $28,296,501 Employment 477.50 553.06 Industry Output $88,446,193 $105,550,873 Taxes $14,244,846 $15,905,942 Federal $5,847,283 $6,556,286 Provincial $6,484,390 $7,083,489 Municipal $930,019 $1,156,964
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 12 Combined Combined Economic Impact of Curling in Canada Economic Impact of Curling in Canada CC Club Ops & Capital Championship Events Manufacturing Tourism & Retail Grand Total Initial Expenditure $42,827,647 $151,745,332 $90,620,909 $65,753,155 $350,947,043 GDP $34,306,422 $142,681,270 $73,753,366 $64,252,392 $314,993,450 Wages & Salaries $20,493,704 $92,799,457 $44,758,837 $28,296,501 $186,348,499 Employment 384.9 1,657.3 839.6 553.1 3,434.8 Industry Output $86,648,794 $230,593,557 $161,104,555 $105,550,873 $583,897,779 Taxes $11,005,489 $36,071,829 $26,209,412 $15,905,942 $89,192,672 Federal $3,909,616 $15,717,985 $11,902,470 $6,556,286 $38,086,358 Provincial $2,188,024 $13,719,788 $12,156,607 $7,083,489 $35,147,909 Municipal $14 $6,634,056 $2,150,334 $1,156,964 $9,941,369
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 13 Initial Expenditure Initial Expenditure $ Represents the combined spending from: Visitors (Tourism) Operations Capital Construction Is the amount of money being spent in the community BEFORE the application of any economic multipliers
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 14 Gross Domestic Product Gross Domestic Product (GDP) Gross Domestic Product (GDP) Represents the total value of production of goods and services in the economy resulting from the initial expenditure under analysis This is a NET measure and represents the value of goods and services produced less the cost of inputs used. It also accounts for the value of any imports to the region under consideration The concept is well understood by most government stakeholders and economists
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 15 Economic Activity Economic Activity Economic Activity This figure represent the direct, indirect and induced impacts on industry output generated by the initial tourism expenditure. It should be noted that the industry output measure represents the sum total of all economic activity that has taken place and consequently involve double counting on the part of the intermediate production phase. Since the Gross Domestic Product (GDP) figure includes only the net total of all economic activity (i.e. considers only the value added), the industry output measure will always exceed or at least equal the value of GDP.
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 16 Economics Background Economics Background Induced (Impact associated with the re-spending of wages, salaries & profits) Indirect (Impact arising from the supply of goods & services to produce Direct) Direct (The impact arising from the initial expenditure)
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 17 Appendix 1: Economic Impact Methodology STEAM Appendix 1: Economic Impact Methodology STEAM2.0 2.0 Background Briefly, the purpose of STEAM 2.0 is to calculate both the provincial and regional economic impacts of sport and event based tourism. The economic impacts are calculated on the basis of capital and operating expenditures on goods, services and employee salaries, and on the basis of tourist spending within a designated tourism sector. The elements used to measure the economic impacts are Gross Domestic Product (GDP), Employment, Taxes, Industry Output and Imports. STEAM measures the direct, indirect & induced effects for each of these elements. In order to produce economic contribution assessments that are robust and reliable, we developed specific economic contribution models at the national, provincial and metropolitan levels that make use of the most current and most detailed input-output tables and multipliers available from Statistics Canada. The approach also leverages the credibility and robustness of sector specific tax data available from Statistics Canada s Government Revenues Attributable to Tourism (GRAT) report. Technical Description of the Impact Methodology Used by STEAM2.0 While the economic contribution analysis will be conducted primarily at the provincial level, developing highly disaggregated provincial economic models required first the construction of a highly disaggregated national economic contribution model. The reason for this was that detailed input-output tables from Statistics Canada are only publicly available at the national level. For STEAM 2.0 and STEAM PRO 2.0, we pioneered a solution that leveraged the detail available on an industry basis from the national model using aggregate multipliers that are available for each province and territory. While the set of multipliers that Statistics Canada produces do not provide insights into the economic contributions attributed to specific industries operating within the economy, they do represent a known aggregate level which the overall economy can be expected to benefit by. The key to our approach is the linkage between the industry level detail (provided by the model developed from the input-output tables) with the benchmarks provided by the various multipliers.
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 18 Appendix 1: Economic Impact Methodology STEAM Appendix 1: Economic Impact Methodology STEAM2.0 2.0 STEAM 2.0 and many other impact studies are based on input-output techniques. Input-output models involve the use of coefficients that are based on economic or business linkages. These linkages trace how tourist expenditures or business operations filter through the economy. In turn, the coefficients applied are then used to quantify how tourism related activity in a particular region generates employment, taxes, income, etc. The input-output approach indicates not only the direct and indirect impact of tourism, but can also indicate the induced effect resulting from the re-spending of wages and salaries generated. All impacts generated by the model are given at the direct impact stage (i.e. the "front line" businesses impacted by tourism expenditures), indirect impact stage (i.e. those industries which supply commodities and/or services to the "front line" businesses) and the induced impact stage (induced consumption attributable to the wages and salaries generated from both the direct and indirect impact). The direct and indirect impact phase results are benchmarked with the corresponding direct and indirect multipliers from Statistics Canada at the national level, on an industry by industry basis. We developed induced round effects that replicate the re-spending behavior of consumers (who benefited through wages either directly or indirectly by sport events) along income ranges. The re-spending profiles used account for different average wages that exist in specific industry sectors. Ultimately, the re-spending profiles permit the determination of distinct levels and composition of induced consumption depending upon the extent to which those industries are directly and indirectly affected by economic activity arising from hosting sports events and festivals. After the level and composition of induced consumption is determined, the process involved treating the induced consumption spending in a separate analysis much the same as the original sport event related expenditures were. Hence, these expenditures were simulated through the direct and indirect impact phase and treated as if they were initial expenditures. Once again, the magnitude of the results of the induced impact phase was benchmarked against the corresponding multipliers supplied by Statistics Canada. Again, this is done to ensure that, in aggregate, the estimates align with those from Statistics Canada but at the same time the analysis also provides an industry by industry breakdown. Taxes and employment are two key impact measures that require data sources beyond those available in the input-output model.
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 19 Appendix 1: Economic Impact Methodology STEAM Appendix 1: Economic Impact Methodology STEAM2.0 2.0 Taxes Despite the fact that many of the sales tax ratios are available from the margins tables produced by Statistics Canada, additional work was required to adjust these rates based on possible changes in tax rates between 2010 (the year of the input-output tables) and 2012 (the year of the analysis). To extend the analysis to include the full range of taxes and fees impacted by sport events, we relied on statistics reported in Statistics Canada's Government Revenues Attributable to Tourism (GRAT) report. This report is particularly useful because it follows the concepts and definitions as identified in the Canadian Tourism Satellite Account (CTSA). As well, the scope of taxes covered by the GRAT is more comprehensive than what would be possible using only the input-output tables. In particular, the GRAT includes taxes on incomes (i.e., on employment earnings, corporate profits, net income of unincorporated business and government business enterprises), contributions to social insurance plans (i.e., premiums for Canada/Quebec Pension Plan, Employment Insurance and workers compensation), taxes on production and products (such as sales and property taxes), and from sales of government goods and services. Aside from reporting on the tax collections directly attributable to tourism, the GRAT study also identifies the composition and level of taxes attributed to various industry segments of the economy. At the present time, the most recent GRAT report relates to the 2011 calendar year. The established rates calculated from GRAT were adjusted, where applicable, to reflect rate changes that occurred between 2011 and subsequent years. To incorporate the findings from the GRAT study into our analysis, we estimated ratios that were based on the most current industry sector tax data along with the most current GDP estimates on an industry basis. The resulting tax coefficients were then used to determine tax calculations that would be based on GDP estimates stemming from the model on an industry by industry basis. The categories of taxes that were benchmarked against the GRAT statistics include corporate taxes, contributions to social insurance plans and other taxes on production. Other taxes on production comprise property taxes, payroll taxes, capital taxes, permits and many other miscellaneous taxes covering federal, provincial and municipal levels of government. The contributions to social insurance plans include employment insurance, worker s compensation and the Canada and Quebec pension plans. We also went outside of the figures reported in the GRAT report to assemble income tax coefficients. This was done to capture the detail that was already available from the input-output analysis and to better align with the granular demand associated with sporting event expenditures. The source used to assemble specific income tax rates, by income range, was the Canadian Tax Foundation's most recent Finances of the Nation report. This report provide insights on taxes on incomes (i.e., on employment earnings, corporate profits, net income of unincorporated business and government business enterprises) and contributions to social insurance plans (i.e., premiums for Canada/Quebec Pension Plan, Employment Insurance and workers compensation).
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 20 Appendix 1: Economic Impact Methodology STEAM Appendix 1: Economic Impact Methodology STEAM2.0 2.0 Employment Employment is a measure that is available, in aggregate form, from the multiplier tables produced by Statistics Canada. However, the employment multipliers relate to the year of the tables (2010) and not the year of the current analysis. To adjust for this difference, indices of average wage growth by industry were incorporated to reflect the period between 2010 and the year under analysis. Annual data from Statistics Canada's Labour Force survey were used on an industry basis to capture the change in average earnings. Once again, in order to preserve the industry by industry detail available from the model, appropriate average wages were applied against industry labour income estimates to align with the employment multipliers from Statistics Canada. The one distinction being that the employment multipliers reflect the economy operating in 2010. Hence, adjustments on average wages were made to estimate what the employment multipliers would resemble had they been produced for subsequent years. Regional (Sub-Provincial) Impact Methodology The method used to simulate intraprovincial commodity flows and ultimately regional impacts follows directly from regional economic principles. The principle is referred to as the "gravity model". Basically the "gravity model" states that the required commodity (& service) inputs will be "recruited" in a manner that takes into consideration economies of scale (i.e. production costs), transportation costs and the availability of specific industries. Economies of scale (i.e. lower production costs) are positively correlated with input demand while greater transportation costs are negatively correlated with input demand. Fulfilling that demand from other provincial regions is contingent on the fact that the specific industry does actually exist. An advantage of using the "gravity model" to simulate intraprovincial commodity flows is that as the industrial composition of the labour force changes, or as new industries appear for the first time in specific regions, the share of production between the various sub-provincial regions also changes. By following this principle of the gravity model, all sub-provincial regions of a province are assigned a coefficient for their relative economies of scale in each industry (using the latest industry labour force measures) as well as a coefficient to represent the transportation cost involved to get each industry's output to the designated market. One variation on the "gravity model" principle involves the estimation of "relative trade distances" by incorporating different "weights" for different modes of transport. Once these coefficients are generated for all regions and over all industries, a measure of sensitivity (mostly relative to price, but in the case of service industries also to a "local preference criteria") is then applied to all commodities. Another variation on the strict "gravity model" approach is that the measure of sensitivity is adjusted by varying the distance exponent (which in the basic "gravity model" is 2) based on the commodity or service required. The variation in distance exponents revolve, principally, around two research hypotheses: (1) the greater the proportion of total shipments from the largest producer (or shipper), the lower the exponent, and (2) the greater the proportion of total flow which is local (intraregional), the higher the exponent.
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 21 Appendix 2: Glossary of Terms Used by STEAM Appendix 2: Glossary of Terms Used by STEAM2.0 2.0 Initial Expenditure - This figure indicates the amount of initial expenditures or revenue used in the analysis. This heading indicates not only the total magnitude of the spending but also the region in which it was spent (thus establishing the "impact" region). Direct Impact - Relates ONLY to the impact on front-line businesses. These are businesses that initially receive the operating revenue or tourist expenditures for the project under analysis. From a business perspective, this impact is limited only to that particular business or group of businesses involved. From a tourist spending perspective, this can include all businesses such as hotels, restaurants, retail stores, transportation carriers, attraction facilities and so forth. Indirect Impact - Refers to the impacts resulting from all intermediate rounds of production in the supply of goods and services to industry sectors identified in the direct impact phase. An example of this would be the supply and production of bed sheets to a hotel. Induced Impact - These impacts are generated as a result of spending by employees (in the form of consumer spending) and businesses (in the form of investment) that benefited either directly or indirectly from the initial expenditures under analysis. An example of induced consumer spending would be the impacts generated by hotel employees on typical consumer items such as groceries, shoes, cameras, etc. An example of induced business investment would be the impacts generated by the spending of retained earnings, attributable to the expenditures under analysis, on machinery and equipment. Gross Domestic Product (GDP) - This figure represents the total value of production of goods and services in the economy resulting from the initial expenditure under analysis (valued at market prices).
CSTA | ECONOMIC IMPACT STUDY | 2017 EI OF CURLING IN CANADA | 22 Appendix 2: Glossary of Terms Used by STEAM Appendix 2: Glossary of Terms Used by STEAM2.0 2.0 GDP (at factor cost) - This figure represents the total value of production of goods and services produced by industries resulting from the factors of production. The distinction to GDP (at market prices) is that GDP (at factor cost) is less by the amount of indirect taxes plus subsidies. Wages & Salaries - This figure represents the amount of wages and salaries generated by the initial expenditure. This information is broken down by the direct, indirect and induced impacts. Employment - Depending upon the selection of employment units (person-years or equivalent full-year jobs) these figures represent the employment generated by the initial expenditure. These figures distinguish between the direct, indirect and induced impact. Equivalent Full-Year Jobs , if selected, include both part-time and full-time work in ratios consistent with the specific industries. Industry Output - These figures represent the direct & indirect and total impact (including induced impacts) on industry output generated by the initial tourism expenditure. It should be noted that the industry output measure represents the sum total of all economic activity that has taken place and consequently involve double counting on the part of the intermediate production phase. Since the Gross Domestic Product (GDP) figure includes only the net total of all economic activity (i.e. considers only the value added), the industry output measure will always exceed or at least equal the value of GDP. Taxes - These figures represent the amount of taxes contributed to municipal, provincial and federal levels of government relating to the project under analysis. This information is broken down by the direct, indirect and induced impacts. Imports - These figures indicate the direct, indirect and induced final demand and intermediate production requirements for imports both outside the province and internationally.
