.id undertook an economic appraisal of a $1.6 million upgrade to the Bathurst Bike Park.
The appraisal was used to support the City of Bathurst’s funding application to the National Stronger Region Fund (NSRF).
Business Challenge
What are the economic impacts that could be generated by the upgrade to the Bathurst Bike Park? What are the construction and ongoing impacts of the proposed project? How can the project address disadvantage in the region?
The .id Solution
.id used the Economic Impact Model and Event Impact Calculator tools available in economy.id for the appraisal.
The tools enabled us to estimate construction expenditure impacts and the potential impacts from additional tourism visitation as a result of attracting a major sport event such as the BMX National Championships.
Both models were tailored to the Bathurst Region’s economy based on an input-output model which is derived from the local economy microsimulation model by National Economics (NIEIR).
Outcomes – Data Driven Success
.id’s Economic Impact Assessment found that major sport hubs, such as the proposed expansion to the Bathurst Bike Park, can act as a significant economic and social driver for the regional economy and attract sports players, visitors, spectators and major events each year.
Sport hubs have the ability to generate economic output, increase tourism expenditure, encourage sports participation and enhance healthy lifestyles.
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