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recreational opportunities has significant value in defining the State's identity and <br />reputation. <br />The importance of whitewater boating and kayaking to the Town of Vail's economy <br />Whitewater boating and kayaking are some of the few outdoor activities that are growing <br />in popularity. Kayaking is a sport demonstrating dynamic growth both in new entrants <br />and in growing level of participation commitment. Such boating also has a great <br />potential to boost local tourism spending because boaters typically are wealthier than <br />average. In Vail, there is already a well established infrastructure for tourism which has <br />two main seasons, the summer /early fall and winter. The whitewater course will attract <br />recreational tourists during the spring and early summer months when there may be <br />higher flows in the course, and when tourism would otherwise be reduced. The <br />whitewater course will also attract additional tourists in the summer and in the fall and <br />will become part of the Town's character and identity as a recreational destination. <br />Types and levels of use at the Vail whitewater nark . The whitewater park was completed <br />before the 2001 boating season. Interviews with knowledgeable people will be reported <br />to better explain the types and level of use that existed at the whitewater park in 2001 and <br />that are anticipated. Initial interviews suggest the course is already popular for all levels <br />of boaters, from beginner to expert. The course is used by both local boaters and by those <br />from outside the area and, as would be expected, the level of use increases with higher <br />flows and higher flows are preferred by the boaters. The 2001 TEVA Whitewater <br />Festival was a success drawing international competitors and approximately 2,300 <br />spectators for the main day of competition, and several hundred spectators for the <br />remaining portions of the festival. Various whitewater events are planned for 2002 and <br />the future that will further establish the reputation of the course. <br />The 2001 TEVA Whitewater festival also provided valuable regional and national <br />exposures in the media, both radio and in print, and a FOX Net Sports one -hour program <br />on the competition was aired a confirmed total of thirteen times in seven of FOX's major <br />markets across the United States. <br />Use of the course during 2001 was documented by the Alpine Kayak and Canoe business. <br />Although complete information has not yet been obtained, it appears based upon <br />interviews that the whitewater park attracted a large number of boaters, that the course <br />structures were being put to significant levels of use in 2001, and that the use was greater <br />in the months with higher flows. The levels of monthly use will be compared to the <br />levels of monthly flows in 2001. Increased use at higher flows was also found for the <br />City of Golden Whitewater Course, and is consistent with the general perception of the <br />boating community. <br />Estimated economic value of the Vail whitewater park based anon limited 2001 data <br />The direct economic value associated with whitewater boating has at least two <br />components, the amount people pay and the additional amount people are willing to pay <br />(referred to as consumer surplus and measured based on willingness to pay). Kayaking <br />Ph0402 -3- <br />