The economic impact of Cruisin’ the Coast on Mississippi just keeps growing, hitting $28.6 million for the classic car show that ran Oct. 2-9.
Organizers say the statewide impact of 2016 Cruisin’ increased by 35 percent over the 2011 event. The Bradley Research Group prepared the study for event organizer Cruisin’ The Coast Inc.
It measured direct and indirect impact, and included surveys of registrants and spectators. Direct impact includes business revenue, income and employment, plus money spent by registered cruisers and spectators. Indirect impact includes income created within public and private groups supplying Cruisin’ services and products, plus spending by those whose incomes can be attributed to the event.
In addition to revenue, income and employment, the study looked at local and state taxes generated.
Of the total impact, $26.1 million was felt on the Mississippi Coast.
The biggest benefactors, according to the study, were restaurants and bars, hotels and motels, casinos, amusement parks and arcades, retail stores and gas stations.
The number of visiting days amassed was 180,000, from both out-of-town registrants and spectators.
The value of goodwill was not measured, but is thought to be substantial.
“We know that new participants are likely to return to their places of residence to report positively to their friends and family about both the event and about other area attractions,” the study says. “This word-of-mouth advertising is exceedingly valuable, yet not captured in this study.”