This chapter aims to explain some of the basic principles and practices of economic impact analysis (EIA) of events, with particular focus on smaller size special events, and how results from an EIA are used in practice for decision making at various stakeholder levels. Data collected on site from 404 visitors to the special event Landsmót 2016 - the National Championship of the Icelandic horse - and the analysis of the event’s economic impact are used as an illustrative case. Starting with a review of the traditional approach to EIA, followed by a thorough description of the case, including details of data collection and descriptive statistics, the chapter ends by putting the results in policy relevant contexts for different types of stakeholders.