The main purpose of this study is to employ scenario analysis to estimate the economic impact of the expenditures of anglers who participate in saltwater fishing tournaments in Port Isabel/South Padre Island, Texas. Secondly, this study discusses the implications for initiating, maintaining, and/or expanding marketing communications, including event marketing and event sponsorships, to promote saltwater fishing tournaments in South Texas. This study also evaluates impacts on adjacent areas, identifies potential uses for economic impact information, and provides justification for investment and support of programs related to the growing needs of saltwater recreational fisheries management. To accomplish this study, the IMPLAN modeling system was used to investigate the economic impact of saltwater fishing tournaments on local and regional economies. Preliminary results using scenario analysis suggest the total annual economic impact of saltwater fishing tournaments in South Texas range from $680,138 to $2,040,414. These estimates were based on three scenarios of the number of participants and on what each tournament participant party would spend on lodging, fuel, food, fishing, and miscellaneous expenses. Using IMPLAN, total economic output based on several categories were estimated, including generated labor income, job opportunities/employment, and value added. This paper also examines the extent to which fishery managers, municipalities, and business and private sector stakeholders could benefit from local saltwater fishing tournaments and potentially justify investment in marketing communications and the infrastructure, which supports saltwater recreational fishing.
Chi, Y. N., & Lovett, M. G. (2019). Scenario economic impact & marketing implications for south Texas saltwater fishing tournaments. Journal of Management and Marketing Research, 23, 12.
Journal of Management and Marketing Research