UTRGV provides Island with economic impact data

Special to the PRESS

Analysis of economic impact study methodology highlighted the Wednesday, June 27 meeting of the South Padre Island Convention and Visitors Advisory Board (CVAB). Representatives from UTRGV provided the Board with a presentation on the research methodology used in conducting their economic impact study of CVAB sponsored events held on the Island between November 2017 and May 2018. These included the SPI Marathon, Kite Fest, Open Water Festival, Sand Crab Run, Splash and the Padre Jailbreak.

The data provided for each of the events included the amount of money invested by the CVAB, total spending by attendees, tax revenues generated, return on investment and the percentage of people likely to attend again. Dr. Penny Simpson, of UTRGV, explained that five student organizations were involved in gathering the data. “The measures are solid and consistent throughout, as is the methodology,” Simpson summarized.

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