Understanding the demand and the economic impact for an event is crucial knowledge not only for the event managers and host organization but also for public planners of the region where the event takes place.
The present study measures the direct economic spending of visitors to the event Landsmot Hestamanna, The National Icelandic horse competition, which hosted in Hólar in mid June2016. The study is based on data from 404 respondents answering an on-site survey within the event arena. The key variables for the LM economic impact analysis consist of total number of visitors divided by visitor type and the average spending of the different types.
Following the recommended approach by Sun et al. (2010) segmenting visitors by loding type the preliminary findings indicate a total for the Economic impact of Landsmót 2016 to 159,7 MISK. However, there are uncertainties regarding total number of visitors to the event as well as the division of visitors in lodging type. Moreover, the study finds that international tourists spend on average approximately 30 percentages more compared to national visitors.