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hello my name is Professor J n snowball and I'm the chief research strategist from the South African cultural Observatory and also professor of economics at Rhodes University so what we going to be talking about today is a tool that was developed by myself and by a professor from the US which is free available online for anybody to use to work out the economic impact of a cultural event or especially a festival before we get into the tool we need to talk a little bit about what economic impact studies are economic impact studies are a measure of the new money that's attracted to an impact area like a town or a city as a direct result of a festival or an event and it counts the initial spending as well as the way that that money circulates through the economy so economic impact studies answer the question if the events hadn't taken place at all then what would the loss of economic activity have been to the impact area like the town or the city could also be the municipal district or the

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