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Event performance index: a holistic valuation tool

Monika Bandi Tanner (Center for Regional Economic Development, University of Bern, Bern, Switzerland)
Adrian Künzi (Center for Regional Economic Development, University of Bern, Bern, Switzerland)
Therese Lehmann Friedli (Center for Regional Economic Development, University of Bern, Bern, Switzerland)
Hansruedi Müller (Center for Regional Economic Development, University of Bern, Bern, Switzerland)

International Journal of Event and Festival Management

ISSN: 1758-2954

Article publication date: 4 June 2018

Abstract

Purpose

The subsidization of events by public authorities at different administrative levels has become increasingly important in recent years. Event portfolios are an important supply component of tourism destinations. The development of a valuation tool with an event performance index (EPI) as the key output should enable public authorities to develop transparent, systematic and fair subsidization practices in the future. The paper aims discuss these issues.

Design/methodology/approach

Using a theoretical impact model and event evaluation practices, this work develops a new holistic valuation tool for events with key indicators along the dimensions of sustainable development. Basic cost-benefit analysis ideas enrich the approach conceptually. Indicator development was based on a process of elaboration that considered the scientific literature, event stakeholders and municipal representatives.

Findings

The EPI consists of seven core indicators: size, economic value, touristic value and image, innovative strength, value of networking, value of participation and social exchange and relative ecological burden. The application of this tool to a case study revealed that it generates comprehensive and robust indicators of multifaceted and destination-unspecific event values and supports the process of allocating event subsidies using different remuneration schemes. Straightforward and destination-unspecific indicators assure the transferability and adaptability of the valuation tool to different complex and multifaceted contexts of event subsidization.

Originality/value

The EPI seeks to reduce complexity and incentivize event organizers to meet future sustainable development goals. Additionally, this work contributes to future discussions of both the form and process of event subsidization.

Keywords

Citation

Bandi Tanner, M., Künzi, A., Lehmann Friedli, T. and Müller, H. (2018), "Event performance index: a holistic valuation tool", International Journal of Event and Festival Management, Vol. 9 No. 2, pp. 166-182. https://doi.org/10.1108/IJEFM-09-2017-0047

Publisher

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Emerald Publishing Limited

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