The World Youth Day 2013: The economic impacts of spending pilgrims in Rio de Janeiro City

Abstract

The events market is a key driver of tourism and therefore an important source of business, employment and income generation for cities and countries. Some models have been developed to evaluate the economic relevance of the events and to measure its impacts. This article aims to quantify the positive economic impacts of World Youth Day - WYD, held in the city of Rio de Janeiro in 2013. Using data collected through a survey from a sample of 1800 pilgrims during the event and the combination of a regional impact model to quantify the direct impact with an input-output model to estimate the indirect impacts it was possible to estimate the financial value generated by national and international tourists who came to attend the event. The total impact is estimated at approximately R$ 1.9 billion, R $ 920 million direct impact and R $ 980 million indirect impact, which reinforces the importance of the events in the process of income generation for the cities that receive them