Microsoft Word 2007 ichrie conference Proceedings Final-Final 06-06-07. doc

 
2007 Annual International CHRIE Conference & Exposition 
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FUTURE RESEARCH 
This research focuses on using the I/O IMPLAN SYSTEM, utilizing the methods of inflations and 
deflations to establish consistent figures, inflating existed spending profiles, and employing forecasting models to 
generate results of the projected total economic impacts of travel to the Blue Ridge Parkway. Future studies of the 
Blue Ridge Parkway using the I/O IMPLAN System may consider conducting a survey of local businesses in order 
to obtain more reasonable multipliers for the impact analysis. Applying other economic and forecasting models to 
the Parkway data will also be needed. In the tourism and hospitality literatures, studies of comparison among 
different economic analysis models are rare. Therefore, evaluating the differences among IMPLAN and other EIA 
models will be able to provide valuable knowledge to estimate more reliable economic impacts at different 
situations. 
Other economic analyses and forecasting models may be applied to achieve the objectives of comparing 
different models to provide credibility of an integrated economic impact and forecasting study. Since each model 
has different assumptions and different components including cost, time, merits, limits, sectors of a spending profile 
and so on, developing a comparison methodology for evaluating different integrated economic analyses with 
forecasting models will not be an easy task. Human resources and efficiency are also important components that 
influence the usages and comparisons of EIA and forecasting models. Finally, it should be reemphasized that 
economists and forecast analysts should conduct periodic reviews of strategies and policies based on the most 
current information available about the economic impacts and forecasts of visitations. Such reviews are needed 
timely because of the changing trends, intervention events, and intangible factors in the real world.