In its 65th year of operations and 11th year of being sponsored by Travelers, the Travelers Championship (the Championship) is a major annual sporting event in Connecticut, drawing in professional golfers, their caddies and families, media, exhibitors, and spectators from across the country and internationally. Over the years, the week-long tournament has grown in size and prestige, attracting thousands of spectators to the area annually. CERC, along with the Tournament’s stakeholders, seeks to determine the impact of this event on Connecticut’s economy.
One of the primary features of the Championship is the fact that 100 percent of net proceeds are donated to Connecticut charities. These net proceeds include funds raised through special events during the Championship week and throughout the year. In addition to these donations, the Championship contributes to the state’s economy in multiple ways: spending by the Championship’s administrative body itself before, during, and after the events; and by attendees, especially those from out-of-state, who consume local goods and services that otherwise would not have been purchased in Connecticut if the Championship had not occurred.
For this impact analysis, CERC used an economic input-output model at the state and regional levels. The analysis assessed two scenarios: a “base case” that measured current economic activity, assuming the status quo without the presence of the tournament; and the alternative scenario with the presence of the tournament. Impacts were measured in terms of economic output, value added, labor income and jobs created, as well as changes to the State of Connecticut’s revenue stream.
CERC first conducted an impact analysis in 2011. The following year, leadership came back to CERC seeking to gain clarity concerning overall satisfaction of the attendees of the week-long event and to understand the attendees’ time and spending habits once at the tournament, through attendee surveys. CERC completed another impact analysis in 2017, and compared the results with the 2011 study to look at the changes over time. The economic impact had more than doubled between 2011 and 2017, due to two primary factors: a much larger total number of spectators, especially the increased number of individuals from outside the state; and increased spending by the Championship in preparing for and administering the multiple events that occur during the tournament week.
The Travelers Championship now has an understanding of the impact of the tournament on Connecticut, which is valuable information for them and their donors.
Working with CERC was a great experience that I would recommend to any organization. We partnered with them in 2011 and were so pleased with the process that we wanted to work with them again in 2017. The entire team is knowledgeable and they took the time to learn about our business to provide us the most thorough study possible.
- Nathan Grube, Tournament Director