Golden Tag Competition Evaluation
The Victorian Fisheries Authority (VFA) engaged Marsden Jacob to complete an assessment of the potential economic contributions of Golden Tag Competition investments following the 2020-2021 competition period.
Marsden Jacob employed the following process in delivering the assessment:
- Developed a high-level economic impact evaluation framework that builds on earlier assessments and makes best use of available VFA data.
- Compiled information and undertaken an analysis of how behaviour of Victorian fishers has changed and expenditure has increased as a result of VFA’s $380,000 of investment in the Golden Tag Competition between 2020 – 2021.
- Used the outcomes of the analysis to estimate the economic contribution of expenditure attributed to the Golden Tag Competition as a result of fisher behaviour change and prize winning stimulus.
- Discussed opportunities for future investment by VFA in similar competitions from a larger spread of Victoria’s regional communities.
The Golden Tag Competition Evaluation report estimates the Victorian Fisheries Authority (VFA) Golden Tag Competition induced $1.35 million of recreational fishing expenditure, and $316,000 prize stimulus attributable to the program across 2020-2021.
Feedback from stakeholders consulted highlighted that the Golden Tag competition provides benefits above and beyond the economic contribution that is measured in this report. Economic contribution estimates illustrate that the competition pays off in an economic sense. The impact of the Golden Tag program extends beyond this primary benefit to likely include things like greater community wellbeing, and greater benefits from outdoor recreation. These aspects are important to programs like the Golden Tag Competition but are not measured in this evaluation.
There is clear evidence that the Golden Tag Competition was widely supported. Victorian fishers and businesses surveyed almost universally suggested that the program be repeated in the future and / or run more frequently.