In 11^th July 2016, Dynamic University Ltd. signed a contract with RA EVENTS Ltd. in order to carry out the Economic impact study of 2016 “Monster Energy FIA World Rallycross Championship, Latvian round of Neste World RX” (hereinafter – Study).

PROJECT SOLUTIONS AND RESULT

In order to reach the objectives of the Study – namely, to evaluate the economic impact of the event on the national budget – three target groups were defined – foreign visitors, participants and media. The Study was carried out following these steps:

• Development of the methodology;
• Development of the questionnaire in order to gain insight about the expenses of the target groups during their stay in Latvia;
• Localization of the questionnaires from Latvian to English;
• Providing support for the recruitment and training of the surveyors;

• Participation in the information and data collection process, implementing overall 1964 surveys and using the information provided by the organizers (including the number of tickets sold);
• Compilation and analysis of the gathered information;
• Defining the total expenditures of each target group during their stay in Latvia by applying the information disclosed by the respondents to their sample group, this in turn allowed to calculate the amount of taxes payed as a result of the event.