Journal of Business and Economics, ISSN 2155-7950, USA August 2018, Volume 9, No. 8, pp. 713-723 DOI: 10.15341/jbe(2155-7950)/08.09.2018/008  Academic Star Publishing Company, 2018 http://www.academicstar.us

Economic Impact of a PGA Tournament (McGladrey Classic) on

Surrounding Area

Dominique Halaby, Benjamin McKay, Kristen Ruhland  ( Southern University, USA)

Abstract: This study estimated the economic impact of the 2013 McGladrey Classic Tournament (since renamed the RSM Classic) on Glynn County, Georgia. It was held at the Sea Island , Seaside Course on Sea Island, Georgia in early November (7th through the 10th). This tournament is one of the stops for the PGA TOUR. The direct impacts were generated from spending from out-of-town visitors. These visitors included spectators, volunteers, title sponsor guests and the staff of the broadcast partner. In order to estimate the total amount of spending related to this event, the research team administered a survey to both volunteers online, prior to the event, and to spectators in person at the event. Additional expenditure data for the staff and McGladrey guests was provided by the Davis Love Foundation, host of this tournament. Key words: sports tourism; golf tourism; event economic impacts JEL codes: Z200

1. Introduction

1.1 Economic Impact of Sports Sporting events can be the source of a significant boost in economic activity leading up to and after the experience. This influx of money, exposure and economic stimulation is a primary motivation for many cities and towns to host such events. There are many reasons why an area would host a major sporting and other tourist events. Economic development and growth, improved perception of the surrounding area and other marketing benefits, social and cultural benefits, job creation, infrastructure development are just a handful of such reasons (Saayman & Saayman, 2014). Several studies have looked at the effects hosting sporting events has on the surrounding areas. Evaluation of the economic benefit these sporting events have on host cities assist organizers and business owners, alike, as they plan and develop business models that forecast sales during the event (Dixon, Backman, Backman, & Norman, 2012). A number of studies have been conducted that evaluate the effects hosting sporting events has on larger metropolitan areas. Additionally, research has focused on the effect, in totality, of all sports-oriented occasions in a given area, including professional and amateur events. In 2011 it was determined that the economic impact of sports and sporting events on the Charlotte metropolitan statistical area (MSA) totaled over $1 billion to the region directly and over $2 billion indirectly (Connaughton & Swartz, 2014). This research relied on a combination of primary data collected in the form of an email survey. Secondary data provided by the Charlotte

Dominique Halaby, Doctor of Public Administration, Georgia Southern University; research areas/interests: economic development. E-mail: [email protected].

713 Economic Impact of a PGA Tournament (McGladrey Classic) on Surrounding Area

Sports Commission, the Charlotte Regional Visitors Authority and other sources was also used to determine the direct and indirect economic effects. The study utilized the IMPLAN input-output methodology to assess the economic impact and employment information the sports industry had on the region’s economy. 1.2 Economic Impact of Golf Whether through participation or spectatorship, golf has a huge impact on economy. With over 15,000 courses across the nation, golf has been found to have $176.8 billion impact (direct, indirect and induced) on the national economy. Additionally, one out of every 75 jobs in the U.S. is impacted by the golf industry (SRI International, 2011). The impact golf has on Georgia mirrors that of the national trend. Georgia is home to 538 golf courses and employs approximately 57,000 full-time workers in the industry (LoveToKnow Corp, 2017; We Are Golf, 2017). It is estimated that golf’s direct economic impact on the state of Georgia totals $2.4 billion, with a total economic impact $5.1 billion (direct, indirect and induced). Included in the economic impact of golf is a number of core industries. Golfers and golf enthusiasts not only spend money on professional lessons, green fees, and golf related equipment, merchandise, and apparel, but also on attending professional golf tournaments, which is the focus on this article. Major golf tournaments sponsored by the national golf associations (PGA of America, PGA Tour, USGA and LPGA) generated $1.2 billion in revenue (SRI International, 2011). None of these tournaments are more coveted than those sponsored by the PGA. Of the 51 official PGA TOUR events scheduled for the 2013-2014 golf season, Georgia was one of only nine states to host multiple tournaments, including The and the McGladrey Classic Golf Tournament (since renamed The RSM Classic in 2015) (PGA Tour, 2017). 1.3 Methodology and Results of Localized Impact Studies of Golf In 2005, the University of estimated the impact of another major sporting event, tournament in Ponte Vedra Beach, FL (Stevens, Hodges, & Mulkey, 2005). This analysis utilized on-site survey data collected by EventCorp Services, Inc as inputs into the IMPLAN system. Over 2,400 usable surveys were collected from tournament attendees. Additional information was provided by the PGA regarding the number of players, , officials, directors, and TV crew at the event. The analysis concluded that the approximately 72,000 attendees stayed in Ponte Vedra an average of 2.5 days each. The tournament participants and crew numbered 1,267 and stayed an average of 5.86 nights each. Expenditures during the tournament by both groups totaled over $53 million dollars, resulting in an economic impact of almost $96 million. The University of Georgia performed a study estimating the impact of the 2007 PGA held at the in , GA using the IMPLAN system (Selig Center for Economic Growth, 2008). This study estimated there were 68,000 visitors, 1,250 participants, and 1,200 volunteers, who spent a combined total of $20 million. This spending generated a total economic impact of over $31 million. This study did not utilize a direct survey, but obtained data from several sources, including the PGA. Additionally, the National Golf Foundation uses IMPLAN to conduct economic impact studies, as shown in the study conducted for the state of . The study determined that golf contributed to $546 million in direct and enabled sales to the state economy (National Golf Foundation, 2007). In this study, the researchers noted that the input-output model available through IMPLAN was used due to the extraordinary amount of time, knowledge and cost associated with determining industry-specific data for all industries affected by golf. All of these studies estimate very different amounts for total spending given the varied estimates of visitors and array of sporting events included in each. It is necessary to use caution when comparing the results between various impact studies. Often, the assumptions, data, and methodology of a study are very specific to that study,

714 Economic Impact of a PGA Tournament (McGladrey Classic) on Surrounding Area and may not be applicable to other studies. Also, these analyses attempt to estimate economic impacts, but there is no way to measure impacts directly. Estimates can vary significantly between studies. It does not mean that these results are inaccurate, but that each set applies to the specific parameters of its study (such as the size and composition of the geographic area studied). When looking at these results, it is important to fully understand the methodology behind the study, so you know exactly what the results mean. An economic contribution study can assess the importance a given event or experience may have on the surrounding area’s economy (Watson, Davies, & Thilmany, 2008). Input-output models are typically used in impact studies due to the reliance on matrix algebra and the multiplier estimates that are applied to spending estimates (Saayman & Saayman, 2014). A number of research studies have been conducted to determine the economic impact golf has on surrounding areas. A full-scale research process involving all local businesses that may be impacted by the given event is prohibitively expensive. Therefore, many economic impact studies use modeling based on national averages which can be conducted using software packages. One such software package, IMPLAN, was used in this study (Watson, Davies, & Thilmany, 2008). A number of these studies used the IMPLAN input-output model to assess economic impact due to the flexibility and ability to collect and process data in a timely and cost-effective manner. To estimate the economic impacts for this study, the input/output model IMPLAN was used. For this analysis, three variables were used to demonstrate the impact of this program. Three economic impact results are provided for each study using IMPLAN: change in area sales, personal income or employment (Wassmer, Ong, & Propheter, 2016). They are based on the IMPLAN’s 2011 data. All of the estimates in this report cover a one-year time period. In order to increase the usefulness of the report and the clarity of this analysis, we have included a discussion of IMPLAN’s methodology. Input-output models, like those used in IMPLAN, provides excellent descriptive capabilities to help analysts determine the impacts events and businesses have on the local economy. These types of studies can provide direct linkages between the studied event and the regional economy during the event (Watson, Davies, & Thilmany, 2008). Input-output analysis, like that conducted using IMPLAN, is one of the most common methods used to estimate the effects visitors spending has on a community hosting an event (Drakakis & Papadaskalopoulos, 2014). The input-output methodology using IMPLAN has been widely used to determine the economic impacts of many sports, tourism and other events that have economic impacts on the areas where each occurs (Connaughton & Madsen, 2007; Watson, Davies, & Thilmany, 2008; Crompton & Lee, 2000; Bernthal & Regan, 2004; Santos, Grado, & Hunt, 2017; Bonn & Harrington, 2008). The IMPLAN model produces economic impact in three key areas: direct effects which refers to the changes in final demand for goods and services; indirect effects which is considered secondary activity; and induced effects which is considered changes in local spending due to additional employment generated from the aforementioned effects (Watson, Davies, & Thilmany, 2008). 1.4 The McGladrey Classic Golf Tournament (aka The RSM Classic) Perhaps no single event has a more visible impact on Glynn County’s tourism industry than the McGladrey Classic Golf Tournament. Held at the sixth top rated golf in Georgia, thousands of visitors and spectators flock to the Golden Isles to witness one of the industries marquee events (, 2017). The McGladrey Classic started in 2010 and for the first time was part of the PGA TOUR’s regular season. The 2013 event was the first season whereby the tournament awarded FedEx Cup points with the winner receiving an invitation to the Masters Tournament at Augusta National Golf Club. These points are used to determine the winner of the PGA TOUR’s

715 Economic Impact of a PGA Tournament (McGladrey Classic) on Surrounding Area season long race for the FedEx Cup. It was anticipated that this helped increase the level of interest in the event and attention being placed on the region. The following research means to provide a look into the economic effects a lower-profile professional sporting event (The McGladrey Classic) it has on a smaller community in which the event is hosted. The model used and results provided can be used by other smaller micropolitan statistical areas to evaluate the potential impact hosting similar events may have on the community and surrounding areas. The purpose of this paper is to quantify the impact this five-day event has on the area. Event spectators and attendees were surveyed and an economic impact assessment based on the survey results was performed.

2. Data Collection, Sources and Methodology

This article analyzes primary and secondary data collected for this study and then use an input/output model to estimate the final economic impact. In so doing, the authors collected primary data using a survey at the 2013 McGladrey Classic tournament, as well as primary data collected from visiting staff related to the PGA Tour event (i.e., players, caddies, vendors and media). This information was then compiled and processed in the input/output model IMPLAN to perform the economic impact analysis. 2.1 Primary Data - Survey Data The study includes findings based on primary collected during the 2013 event. The primary data includes a survey that was conducted to two separate groups of individuals: spectators of the event and volunteers assisting with coordination of the event. Two formats of the survey were developed: an online form and paper form. Both instruments used a convenience sampling technique. All the volunteers were emailed a link to the survey in an online format prior to the event. For the in-person surveys student volunteers from a local college were utilized to assist with the data collection efforts. The student volunteers questioned the spectators and filled in the responses on the paper forms. Overall, the research team collected 463 surveys online and 964 surveys at the event, for a total of 1,427 surveys used in the study. 2.1.1 Spectator Data The survey that was used to collect the primary data from spectators for this analysis was developed by the authors, with some input from the tournament host. The surveys administered to spectators asked a range of questions related to their travel to the event and accommodations while attending the golf tournament. Each day between 4,600 and 6,050 attended the event. A total of 26,950 attendees were in attendance over the five day event (S. Reid, personal communication, December 10, 2013). The majority of the attendees hailed from the local area, with 53.2% of the attendees from the St. Simons/Glynn County area. The remaining 46.8% were spectators who came from outside the surrounding area, with 14.3% coming from outside the state of Georgia.

Table 1 Spectators — Where Are You Traveling from by Day Wednesday Thursday Friday Saturday Sunday Total Total Attendees 4,900 4,600 5,500 6,050 5,900 26,950 St. Simons or Glynn County 66.8% 35.2% 48.8% 51.5% 61.4% 53.2% Other Region of GA 20.6% 21.8% 24.2% 22.7% 17.4% 21.6% Florida 2.8% 12.8% 5.3% 8.6% 7.6% 7.1% 0.4% 2.2% 4.3% 3.0% 2.3% 2.4% Other Region of the US 8.5% 26.8% 15.0% 13.6% 8.3% 14.3% International 0.8% 1.1% 2.4% 0.5% 3.0% 1.5%

716 Economic Impact of a PGA Tournament (McGladrey Classic) on Surrounding Area

Of the attendees surveyed, 81.5% noted they planned to attend multiple days of the event. The survey asked where spectators planned to spend the night between during the event and nearly 70% of all spectators planned to stay overnight on St. Simons Island. Other locations noted for overnight stays were Sea Island, Jekyll Island or the Brunswick area.

Figure 1 Spectators — Where Are Overnight Spending the Night

Additional questions were included in the survey which inquired about the source of tickets and overall awareness of the event prior to the purchase of tickets. The vast majority of spectators purchased their tickets online (31%) or received tickets from a friend (28%). Other sources of tickets included from the spectator’s company, business associate, volunteer or another source.

Figure 2 Spectators — How Did You Acquire Your Tickets

The survey also inquired about the sponsorship of the event by the company, McGladrey, which has since changed its name to RSM. 84% of spectators responded that they had heard of the company, McGladrey, prior to the event. This question was of particular interest to the coordinators as they continue the sponsorship arrangement.

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16%

84%

Yes No

Figure 3 Spectators — Have You Ever Heard of the Company McGladrey before This Event?

Based on the results, the research team was able to estimate the number of visitors who traveled into Glynn County for the event, the average number of nights stayed in the area, and the average amount of money spent on lodging, food, and other categories. The research team classified attendees into four separate categories: local attendees who live in Glynn County, day-trip visitors who drove in from a nearby county but did not stay overnight, and overnight visitors who paid for accommodations (i.e., rented a hotel, condo, or house). Local attendees estimated spending total was $189, compared to day-trip visitors ($248) and overnight visitors ($429).

Table 2 Average Daily Spending by Spectator Type Local Day-Trip Overnight Attendees Visitors Visitors Food $31 $48 $109 Shopping $40 $49 $86 Gasoline $9 $42 $42 Lodging $0 $0 $276* Entertainment $44 $45 $77 Other Spending $65 $65 $115 Total per Person $189 $248 $429 *Includes all reported lodging expenditures regardless of type.

2.1.2 Volunteer Data The surveys administered to volunteers asked a range of questions related to their travel to the event and awareness of the event. The surveys administered to volunteers via email asked where each person will travel from to assist with the event and how they will travel to the event. Over the five day period, each day saw an average of 807 volunteers help with the coordination of the event (S. Reid, personal communication, December 10, 2013). The majority of the volunteers hailed from the local area, with 63.9% of the attendees from the St. Simons/Glynn County area. Additionally, over 96% of the volunteers plan to travel to the event by way of car. Only 2.5% travelled to the event via airplane. Approximately 36.1% were volunteers who came from outside the surrounding area, with 6.2% coming from outside the state of Georgia.

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Table 3 Results from Volunteer Survey St. Simons or Glynn County 63.9% Other Region of GA 23.8% Florida 3.4% South Carolina 1.7% Other Region of the US 1.1%

As was done with the spectator data, the research team classified volunteers into three separate categories: local volunteers who live in Glynn County, day-trip visitors who drove in from a nearby county but did not stay overnight, and overnight visitors who paid for accommodations (i.e., rented a hotel, condo, or house). Local volunteer estimated spending total was $74, compared to day-trip visitors ($152) and overnight visitors ($320).

Table 4 Average Daily Spending by Volunteer Type Local volunteers Day-trip volunteers Overnight volunteers Food $12 $32 $36 Shopping $33 $30 $31 Gasoline $7 $19 $19 Lodging $0 $0 $164* Entertainment $17 $27 $28 Other Spending $4 $44 $42 Total per Person $74 $152 $320 *Includes all reported lodging expenditures regardless of type.

Like the survey administered to spectators, this survey to volunteers inquired about the sponsorship of the event by the company, McGladrey. 63.7% of spectators responded that they had heard of the company, McGladrey, prior to the event. 2.2 Secondary Data Another data input used in this analysis included the expenditures in the area by the tournament’s partners, the Golf Channel and the McGladrey firm. Both organizations sent a large group of people to the tournament event. The Golf Channel’s production crew travelled from outside the county in order to film and broadcast the tournament. As the event’s title sponsor, many McGladrey employees and guests also attended the event. To account for the expenditures of the production crew, the research team used expenditure data from the 2012 McGladrey Classic. This data was used as a proxy for 2013 estimates, since the actual expenditures for this year’s tournament were not available. Although these will differ from the 2013 figures, the authors did not feel the difference would impact the results in a material way. Over $845,000 in expenditures, comprised of over $686,000 spent by McGladrey employees and $159,000 by Golf Channel employees, was used as inputs into economic model.

Table 5 2012 Partner Expenditures Amount Golf Channel Accommodations $137,541 Automobiles $16,634 Misc. Production $4,803 McGladrey Food and Beverage $361,660 Accommodations $325,000 Total Expenditures $845,638

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2.3 Methodology The total non-local attendee and volunteer spending estimated from the surveys was then used as an input in IMPLAN, which is the input/output model used for estimating economic impacts. This spending is considered a direct impact on the county (i.e., a direct effect of the McGladrey Classic). In addition, that spending circulates through the economy multiple times, creating an even larger impact. The IMPLAN model estimates various components of the total economic impact on the area. To model this data in IMPLAN our research team used five industrial sectors. The industrial sectors targeted in this analysis are Retail Trade (NAICS 447,453), Arts, Entertainment and Recreation (NACIS 711) and Accommodation & Food Services (NAICS 721, 722). The IMPLAN sectors that corresponded to this NAICS codes are 413, 330, 326 and 409. The expenditures by all of the spectators and volunteers, including visitors from both the Golf Channel and McGladrey, form the basis of the economic impact estimates. Note that this analysis did not include players, caddies, and other officials from the PGA TOUR. Admittedly, such inclusion could have a significant impact on the final estimates, as similar studies that were able to account for these totals placed the expenditures in excess of $4 million (Beacon Economics, 2010). Total spending by local attendees and volunteers was about $2.0 million. Though the amount is significant, the authors decided not to incorporate spending from local attendees and volunteers in the economic impact analysis. Much of this spending would have occurred within the county without the tournament, and should not be considered an impact of the tournament (Saayman & Saayman, 2014). For example, had those local spectators not attended the tournament, they would have participated in other activities, spending money elsewhere in the county. Although some of the local spending may have been specific to the tournament, the authors decided removing it from the analysis would be the right approach and would not risk overstating the economic impacts. Other similar studies followed the same methodology (L. Robert Payne School of Hospitality and Tourism Management, 2013; Stevens, Hodges, & Mulkey, 2005; Dixon, Backman, Backman, & Norman, 2012).

3. Empirical Analysis and Conclusions

The economic impact of this event was positive. Expenditures by spectators resulted in a total output impact of over $8.8 million, which helped support the equivalent of 106 year-long full-time employees. When combined with volunteer and partner expenditures, the total impact of all expenditures was nearly $10.6 million, including an increase of almost $3.6 million in local employee wages.

Table 6 Economic Impacts of McGladrey Classic Visitors on Glynn County Output Value Added Labor Income Employment Impact Impact Impact Impact Spectators $8,791,975 $5,106,910 $2,974,027 106 Volunteers $521,954 $299,205 $173,475 6 Partners $1,272,067 $701,312 $413,773 14 Total $10,585,995 $6,107,427 $3,561,247 126

For the attendees who traveled to the event 81% stated that the main reason for their visit was the tournament. This impact is based on the typical spectator staying 3.4 nights and having 3.1 people in their party. In total this generated $5.7 million in direct spending by the spectators. That direct spending created an additional $3.1 million in output impact.

720 Economic Impact of a PGA Tournament (McGladrey Classic) on Surrounding Area

Table 7 Economic Impacts of McGladrey Classic Spectators on Glynn County Direct Indirect Induced Total Impact Impact Impact Impact Output Impact 5,703,204 1,627,981 1,460,791 8,791,975 Value Added Impact 3,254,979 945,886 906,045 5,106,910 Labor Income Impact 2,023,999 501,421 448,607 2,974,027 Employment Impact 78 15 13 106

In total, 86% of the volunteers who traveled to the event stated that their main reason for the visit was the tournament. The typical volunteer who traveled to the tournament stayed 1.8 nights and had 1.6 people in their party. The $336,833 in direct spending by the volunteers created a total output impact of $521,954 in the area. These volunteers helped to increase local employee wages by $173,475.

Table 8 Economic Impacts of McGladrey Classic Volunteers on Glynn County Direct Indirect Induced Total

Impact Impact Impact Impact Output Impact 336,833 99,893 85,228 521,954 Value Added Impact 188,604 57,738 52,862 299,205 Labor Income Impact 116,152 31,150 26,173 173,475 Employment Impact 4 1 1 6

The tournament partner impacts were estimated based on the expenditures of both the Golf Channel and the McGladrey firm. The $845,638 reported spent by these entities within Glynn County led to a total output impact of almost $1.3 million in the area. These partners helped support the equivalent of 14 year-long full-time employees. Table 9 Economic Impacts of McGladrey Classic Partners on Glynn County Direct impact Indirect impact Induced impact Total impact Output Impact 828,784 240,068 203,215 1,272,067 Value Added Impact 436,619 138,650 126,044 701,312 Labor Income Impact 277,942 73,424 62,407 413,773 Employment Impact 10 2 2 14

Even by conservative estimates, the McGladrey Classic has a large economic impact on the Glynn County area. Every year, the tournament event attracts thousands of visitors to the area. These spectators, volunteers, players, and crew spend money in Glynn County during their visit. In addition, hosting a PGA TOUR event brings a great deal of media exposure to the area. This is particularly the case as the McGladrey Classic became part of the regular-season status on the 2013-2014 PGA tournament schedule. The heightened awareness of the tournament undoubtedly led to Saturday’s coverage of the tournament being the third highest rated program on the Golf Channel for the week of November 4-10, 2013. That day’s program yielded a .2 household rating and an average viewership of 245,000 in the 12:58 pm to 4:43 pm timeslot (Nielsen Media Research, 2013). This additional media exposure for the region could encourage viewers to visit the area and contribute to future economic impact. The McGladrey Classic also has a direct positive impact on the lives of many people in the community. The event raises money for several charities each year, including the Special Olympics, the Boys and Girls Club of

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Southeast Georgia, and the many Birdies for Love charities. Over the past three years, the tournament has provided charities with nearly $1 million in financial support (McGladrey Classic, 2013). Overall, the $10.6 million economic impact and significant philanthropic contributions of the McGladrey Classic is improving the Glynn County community, both economically and socially.

4. Future Research

Sporting events, such as the McGladrey Classic, can bring additional spectators and attention to the host community. Similar to this report, other studies have shown that the additional tourism dollars often yield a positive economic impact that proves beneficial to area businesses and local government coffers. But what is often lacking in these studies is holistic economic assessment that views the totality of the impacts and the event’s net impact is on tourism. To help provide a more complete picture of the event’s contribution to the area, a closer review of the types of visitors that come to the event and their motivation for attending could be of value. For instance, additional research could be conducted to determine the nature of the timing for the spectators’ visit. Specifically, a survey could be conducted to identify if attendees should be classified as “time-switchers” or “casuals”. Time switchers can be defined as visitors who planned to visit the area without consideration of the event, however changed the timing of their visit to coincide with the event so they could attend. Casuals can be defined as visitors who were already in the community who decided to attend the event instead of partake in other features offered by the area (Crompton & Lee, 2000). In addition, surveying visitors outside of the event and at different times of the year could help determine any lasting effect of the event. For instance, a survey of visitors to Sea Island in February or July could help determine if tourism throughout the year received a bump in visitors that came as a result of the additional exposure (i.e., television broadcast, magazine articles, etc.) that the event brought to the island. Likewise, additional research could be performed to look beyond economic impacts and consider environmental impacts and any lasting negative consequences from hosting the event. Such studies could extended to the modes of transportation to the event, such as an uptick in small passenger jets. A comprehensive fiscal impact could also be performed to determine if the benefits of hosting the event outweigh the costs, such as any staff overtime costs, additional road/turf maintenance costs, etc. This study demonstrated that hosting a major sporting event can have a significant economic impact on the host community. This economic stems from the increase visitors to the event, as well as the volunteers and corporate partners needed to coordinate the tournament. In the future, further studies are needed to more accurately assess the lasting benefits (and costs) to determine whether the hosting of this event plays a significant role in the development of golf tourism in the region and whether said development fits within the islands strategic plan for growth.

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