Total Economic Impact = Direct Impact + Indirect Impact +
Induced Impact
Based on recent results from several successful races, a typical
total economic impact for a small city is $3 to $5 million.
This includes local spending estimates for spectators, competitors,
and the event itself. Purchases of hotel rooms, fuel, restaurant
meals, groceries, and other varied products and services represent
the direct impact. The total economic impact is highly
influenced by the number of spectators as the number of spectators
increases above 5,000. This is because spectator spending
overshadows other factors, as seen in the graph below:
The funding model for an event is primarily through corporate
sponsorships. The event is also dependent on generous
donations of essentials, such as crane services and a small army of
volunteers.
For more detailed information for your specific situation, please
do not hesitate to contact us. |