Abstract

The report documents the economic value of the Rosen College of Hospitality Management (RCHM) to the Metro Orlando area. The purpose of estimating the economic value of the program is to calculate the increased economic activities in the Metro Orlando area as generated by college degree attainment through the RCHM. The report is the result of an assignment commissioned by the Dean of the RCHM. The report assessed the economic impact of the alumni of the College during the period from 2000 to 2012. In that period, more than 5,000 students earned a degree either at the undergraduate or graduate level. The College was able to steadily increase the graduation growth rate, albeit at a slower pace since 2010. The report is premised on a broad focus of the potential economic impact of alumni from the RCHM, i.e., the earned wage when integrated in the labor market. The report did not consider the productivity that college degree holders could spawn in the economy; nor did the report contemplate the social return of higher education. The report follows an economic based approach by only considering the direct and indirect economic effects that the expenditures associated with the wage differentials infuse into the Metro Orlando area's economy. It treats the RCHM like any other firm sans consideration for any spillover effects that higher education may have on a region. The total economic contribution of the College alumni surpassed $531 million. This amount was triggered by the graduate wage totaling $322 million over the period reviewed, which generated spillover effects in terms of $96 million in business transactions of goods and services and $113 million in increased households' income. Additionally, the RCHM also supplies an economically valuable source of labor to the market in the form of interns. Based on the available data, the total economic value of RCHM interns in 2012 was estimated at $17,189,647. The total economic contribution of the RCHM in 2012 (graduates and interns taken together) amounted to $69,263,647. This amount includes $52,074,000 that stems from 789 graduates and 2,676 RCHM internship students that work on average 25.1 labor hours per week as interns. The value of the RCHM is clearly manifested in the sizeable amount of graduates, interns supplying the labor market, the high number of degree attainment and the commensurate economic contribution of the alumni to the Metro Orlando area (Orange, Osceola and Seminole counties).

Keywords

Rosen College of Hospitality Management, RCHM, ecomonic impact,

Publisher

The Dick Pope Sr. Institute for Tourism Studies

College

Rosen College of Hospitality Management

Publication Date

11-7-2013

Document Type

Report

Format

application/pdf

Language

English

Place

Orlando, FL

Rights

No part of this publication may be reproduced, transmitted, transcribed, stored in a retrieval system, or translated into any language, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without prior written permission from The Dick Pope Sr. Institute for Tourism Studies. All copyright, confidential information, design rights and all other intellectual property rights of whatsoever nature contained herein are and shall remain the sole and exclusive property of The Dick Pope Sr. Institute for Tourism Studies. The information furnished herein is believed to be accurate and reliable. However, no responsibility is assumed by The Dick Pope Sr. Institute for Tourism Studies for its use, or for any infringements of other rights of third parties resulting from its use. The UCF and The Dick Pope Sr. Institute for Tourism Studies name and logo are trademarks or registered trademarks of the University of Central Florida.

Number of Pages

10 p.

Type

article

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