Updated:

Economic Evaluation for Sustainable Event Development Essay (Critical Writing)

Exclusively available on Available only on IvyPanda® Made by Human No AI

In order to analyze, which measures provide beneficial results or appear no to be cost-effective, it is essential to conduct the economic evaluation. In addition, it is vital to prove the effectiveness of the methods, applied in the past, as their outcome may not be sustainable (Marconatto et al., 2016; McKinley, 2019). In addition, the fact that new problems may appear should be taken into consideration. The solutions, which have been implemented previously, are highly likely not to work for the new problems in the physical, social, and economic contexts (McKinley, 2019). Therefore, rigorous and standardized economic evaluation of events is a necessary prerequisite in the process of developing sustainable events.

This approach is helpful for analyzing a range of challenges, which are crucial for sustainable development. For instance, it involves economic growth, market-state balance, macroeconomic stability, changes in the economic climate, and other issues (Thomas, 2019). Evaluations may provide a comprehensive analysis of the economic growth effectiveness and efficiency (Thomas, 2019). This appears to be extremely beneficial in the condition of economic crises, as it is possible to predict the negative impact of such circumstances (Thomas, 2019; Dwyer et al., 2015). This insight allows to respond to the problem correctly, minimizing the losses and supplying development in case it is possible.

Another issue, which is important for developing sustainable events, implies new tendencies in the market. Occasionally, it is risky to adhere to them, as they are not proven enough for guaranteeing a positive outcome in the long run (McKinley, 2019). Consequently, economic evaluation is useful for conducting an analysis of the new implementations and predicting the results (Dwyer et al., 2015). Thus, rigorous and standardized economic evaluation of events is helpful for addressing numerous issues. Therefore, it contributes to preventing the losses and adhering to sustainable development in the long term.

Reference List

Dwyer, L., Jago, L. and Forsyth, P. (2015) ‘Economic evaluation of special events: Reconciling economic impact and cost–benefit analysis’, Scandinavian Journal of Hospitality and Tourism.

Marconatto, D. A. B., Barin-Cruz, L., Pozzebon, M. and Poitras, J.-E. (2016) ‘Developing sustainable business models within BOP contexts: mobilizing native capability to cope with government programs’, Journal of Cleaner Production, 129, pp. 735-748.

McKinley, S. (2019) ‘’, Event Manager. Web.

Thomas, V. and Chindarkar, N. (2019) Economic evaluation of sustainable development. Singapore: Palgrave Macmillan.

More related papers Related Essay Examples
Cite This paper
You're welcome to use this sample in your assignment. Be sure to cite it correctly

Reference

IvyPanda. (2022, July 16). Economic Evaluation for Sustainable Event Development. https://ivypanda.com/essays/economic-evaluation-and-sustainable-development/

Work Cited

"Economic Evaluation for Sustainable Event Development." IvyPanda, 16 July 2022, ivypanda.com/essays/economic-evaluation-and-sustainable-development/.

References

IvyPanda. (2022) 'Economic Evaluation for Sustainable Event Development'. 16 July.

References

IvyPanda. 2022. "Economic Evaluation for Sustainable Event Development." July 16, 2022. https://ivypanda.com/essays/economic-evaluation-and-sustainable-development/.

1. IvyPanda. "Economic Evaluation for Sustainable Event Development." July 16, 2022. https://ivypanda.com/essays/economic-evaluation-and-sustainable-development/.


Bibliography


IvyPanda. "Economic Evaluation for Sustainable Event Development." July 16, 2022. https://ivypanda.com/essays/economic-evaluation-and-sustainable-development/.

If, for any reason, you believe that this content should not be published on our website, please request its removal.
Updated:
This academic paper example has been carefully picked, checked and refined by our editorial team.
No AI was involved: only quilified experts contributed.
You are free to use it for the following purposes:
  • To find inspiration for your paper and overcome writer’s block
  • As a source of information (ensure proper referencing)
  • As a template for you assignment
Privacy Settings

IvyPanda uses cookies and similar technologies to enhance your experience, enabling functionalities such as:

  • Basic site functions
  • Ensuring secure, safe transactions
  • Secure account login
  • Remembering account, browser, and regional preferences
  • Remembering privacy and security settings
  • Analyzing site traffic and usage
  • Personalized search, content, and recommendations
  • Displaying relevant, targeted ads on and off IvyPanda

Please refer to IvyPanda's Cookies Policy and Privacy Policy for detailed information.

Required Cookies & Technologies
Always active

Certain technologies we use are essential for critical functions such as security and site integrity, account authentication, security and privacy preferences, internal site usage and maintenance data, and ensuring the site operates correctly for browsing and transactions.

Site Customization

Cookies and similar technologies are used to enhance your experience by:

  • Remembering general and regional preferences
  • Personalizing content, search, recommendations, and offers

Some functions, such as personalized recommendations, account preferences, or localization, may not work correctly without these technologies. For more details, please refer to IvyPanda's Cookies Policy.

Personalized Advertising

To enable personalized advertising (such as interest-based ads), we may share your data with our marketing and advertising partners using cookies and other technologies. These partners may have their own information collected about you. Turning off the personalized advertising setting won't stop you from seeing IvyPanda ads, but it may make the ads you see less relevant or more repetitive.

Personalized advertising may be considered a "sale" or "sharing" of the information under California and other state privacy laws, and you may have the right to opt out. Turning off personalized advertising allows you to exercise your right to opt out. Learn more in IvyPanda's Cookies Policy and Privacy Policy.

1 / 1