Event Title
The Economic Impact of the Belgrade Lakes Watershed
Location
Diamond 141
Start Date
1-5-2014 1:00 PM
End Date
1-5-2014 4:00 PM
Project Type
Presentation
Description
Environmental amenities such as lakes are often important drivers of local and regional economic activity (Bergstrom et al., 1990). An economic impact analysis is a common method used by economists and policymakers to estimate the direct and ripple effects of expenditures in an area. In my analysis of the Belgrade Lakes Region, I use data collected from an economic survey that was distributed to year-round and seasonal residents of the Watershed. This survey was designed to explore the social and economic dimensions of the area as well as to capture information on spending, income, and general knowledge about the state of the lakes. Using the Impact Analysis for Planning model (IMPLAN), a widely used Input-Output software program originally developed by the U.S. Forest Service, I quantify the direct, indirect and induced effects of spending by seasonable visitors to the Belgrade Lakes Watershed. The results of my research will hopefully help to better understand the economic value generated from seasonal visitor spending. Furthermore, this information may help to better inform decisions by policymakers that affect ecosystem services and conservation land-use practices in this lake watershed environment.
Faculty Sponsor
Michael Donihue
Sponsoring Department
Colby College. Economics Dept.
CLAS Field of Study
Social Sciences
Event Website
http://www.colby.edu/clas
ID
236
The Economic Impact of the Belgrade Lakes Watershed
Diamond 141
Environmental amenities such as lakes are often important drivers of local and regional economic activity (Bergstrom et al., 1990). An economic impact analysis is a common method used by economists and policymakers to estimate the direct and ripple effects of expenditures in an area. In my analysis of the Belgrade Lakes Region, I use data collected from an economic survey that was distributed to year-round and seasonal residents of the Watershed. This survey was designed to explore the social and economic dimensions of the area as well as to capture information on spending, income, and general knowledge about the state of the lakes. Using the Impact Analysis for Planning model (IMPLAN), a widely used Input-Output software program originally developed by the U.S. Forest Service, I quantify the direct, indirect and induced effects of spending by seasonable visitors to the Belgrade Lakes Watershed. The results of my research will hopefully help to better understand the economic value generated from seasonal visitor spending. Furthermore, this information may help to better inform decisions by policymakers that affect ecosystem services and conservation land-use practices in this lake watershed environment.
https://digitalcommons.colby.edu/clas/2014/program/260