Examples Of Intangible Economic Impacts

Economic impacts
In order to find economic impacts, one must define them first. There are different types of economic impacts that should be considered. The business dictionary defines an economic impact as “A macroeconomic effect on commerce, employment, or incomes produced by a decision, event, or policy” (businessdictionary.com, 2017). Since this thesis is dealing with local businesses the macroeconomic turns into microeconomic. One way to separate the impacts is into tangible and intangible economic impacts, as often used in research because of their measurability (Preuß, 1999).
Doshi et al. (2001, p.2) state that the event economic impact “estimates the net impacts of money originating from outside the region and the money that stays in

Tangible economic impacts
Tangible costs and benefits refer to the effects that are rated on the market and thus can be registered in monetary units. In this thesis they will also be called quantitative effects/ impacts. Examples of such impacts are the income effect, the employment effect and the tourism effect (Preuß, 1999).

Intangible economic impacts
The problem to rate the intangible effects makes it nearly impossible to monetarise the effects. That is the reason why they are mentioned verbally. In this paper the intangible economic impacts/effects will also be called qualitative effects / impacts. Examples for intangible effects are the image effect, the motivation effect as well as the liability on the public effect. With every analysis of economic impacts, the evaluation of intangible effects is a problem since one cannot take market prices to refer them to, but if one would neglect intangible impacts of a project, an important part of the impact of an event on the region would be neglected. These intangible effects build a bridge to social and political impacts of major sports events (Preuß, 1999). Such intangible effects can, in specific for sport events, be the sport- gender- and youth- sport effect, the health- and education- effect, the commercial- and destination- effect, the candidature- and image- effect, the information- effect, the network- effect and the leisure- and experience- effect. Negative effects can also occur like the already mentioned liability on the public effect, as well as the crowding out effect and the ecological effect (Thöni & Philippovich,