The direct economic benefit of hosting a Sovereign NZ Ocean Swim event in the Bay of Islands in December has exceeded $653,000.
A survey carried out by the event organisers has shown that around 1900 visitors came to the Far North specifically for the event including competitors, family, friends and supporters. Of that total 29% stayed overnight and a further 54% spent at least two nights in the area.
The value to the local economy of competitor involvement has been placed at $339,000, visits by family and friends at $242,000 and supporters at $72,000.
Far North District Council Economic Development Officer Gary Gabbitas says the benefits shown by the survey are more than double pre-event expectations and more than justify the encouragement given and the costs involved in bringing the event to the Bay of Islands.
"As an inaugural event we would have been happy with around 500 entries. As it turned out the event topped the 700-competitor mark which is a new record for an inaugural event in the Sovereign NZ series. With the numbers higher than anticipated our projections of the economic benefits have similarly been exceeded," he says.
Mr Gabbitas says these were direct benefits and did not take into account spinoffs such as the potential impact of the nationwide television exposure for the Far North.
"It is impossible to calculate what this may mean for the Far North economy into the future or to put a dollar value on the level of positive exposure the district received. However it is certainly marketing exposure which the council could not have otherwise afforded," he says.
The council is committed to a further two years involvement with the series and the economic returns are expected to increase as a result of the successful inaugural event.
