World Triathlon provides economic boost
The MS Amlin World Triathlon Bermuda won by hometown champion Flora Duffy generated an overall economic impact of $4.4 million according to a newly released report.
The Bermuda Tourism Authority’s rport, which was produced by PricewaterhouseCoopers, shows the event created a 152 per cent return on the $2.9m investment by the Government.
The total cost of the event was $3.4 million, which includes $500,000 in revenue from corporate sponsor packages and athlete registration fees.
Media coverage of World Triathlon Bermuda netted an estimated 1.1 million viewers, generating further benefits for the island as a tourism destination, the report found.
A total of 809 people travelled to the island for the event, 304 of whom were participants.
BTA chief executive Kevin Dallas said: “Since April, we’ve been very encouraged by the positive feedback from triathletes, spectators, sponsors and the ITU world governing body which puts on these sporting events around the globe. It’s doubly gratifying to know MS Amlin World Triathlon Bermuda also successfully rang the cash register for the island’s tourism industry businesses.
“We look forward to improving on the event’s economic performance over the next two years and hope for a chance at the Grand Final in 2021.”
Hotels and restaurants enjoyed the biggest economic boost \ followed by wholesale and retail sectors. Some local retailers, however, voiced a negative impact on their bottom lines as a result of road closures and limited access on a Saturday.
“We owe a huge debt of gratitude to the 450 dedicated volunteers, the local businesses who performed admirably and the countless Bermuda residents who lined the course to cheer for Flora and to show off the island’s legendary hospitality,” Mr Dallas said.
Minister of Economic Development and Tourism Jamahl Simmons added: “Sports has proven once again to be an excellent vehicle to bring the country together while at the same time drawing visitors to our shores and boasting our economy. The Government is pleased to support the MS Amlin World Triathlon Bermuda and is proud to support our home town star Flora Duffy. We hope she can dazzle us all again in 2019 and 2020.”
Other impacts noted in the report are as follows:
• Bermuda will benefit from an estimated $19.9 million in future tourism economic impact as a result of World Triathlon Bermuda
• $1.6 million was spent on-island for local businesses ranging from transportation and security to public relations and trucking
• 98 per cent of Bermuda residents were satisfied with World Triathlon Bermuda
• 212 children participated in the TMR Kids Duathlon the day before the World Triathlon Bermuda; 78 of them went through the TMR training programme in the weeks leading up the event
Read the full report here: www.gotobermuda.com/bta/industry-reports
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