Posted Friday, March 3, 2017 8:22 AM | Contributed by Jeff
The economic impact of Six Flags Over Georgia and Six Flags White Water rose by $73 million between 2015 and 2016, according to Cobb Travel & Tourism. The theme parks’ 2016 season had a $301 million in economic impact, which is a 32 percent increase from the 2015 season and a 55 percent increase over the past three years.
Read more from The Marietta Daily Journal.
When we talk about "economic multipliers" - this is how businesses help the local economy....increased travel and tourism means more money for bars and restaurants, shops, hotels and motels, etc. Even little Conneaut Lake Park helps more than we might see at first glance...."green" jobs.
These types of reports tend to be overstated (at least when they are conducted/sponsored by people that have incentives to be biased -- such as a travel/tourist group). Direct spending by the parks is easy to see (though sometimes it can be difficult to determine what is spent locally). Indirect spending on restaurants, hotels, etc. is often tougher to pinpoint accurately. Correlation often becomes causation and indirect benefits can be stretched particularly if you have a bias in favor.
What you rarely see are any negative effects. Consumer spending tends to get shifted from one place to another. That an amusement park exists does not increase the income of its customers (other than those who work for the park but that is a small percentage of the total). Spending on one thing often reduces spending on other things. Lost business for those other entities is typically not included in the rah rah economic studies. No doubt its difficult to measure. But also because there is a bias in favor of the given project (here an amusement park).
You must be logged in to post