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≡ CANOE SLALOM WORLD CUP ≡
There are lots of economic impact studies out there touting the millions and billions of dollars, euro, yen and more to be made from major sporting events like the Olympic Games and the FIFA World Cup.
What about something a lot smaller, like the final of the ICF Canoe Slalom World Cup from 19-22 September 2024, at Le Seu d’Urgell in Spain, the site of the 1992 Olympic slalom events.
The International Canoe Federation just shared such a study, compiled by The Whatsons, a public-opinion project of the Barcelona (ESP)-based Eiedom Gruppen SL, for the International Development Association of the World Bank.
La Seu d’Urgell is a town of about 12,000, so a smaller event can still have a significant impact. The study classified the event this way:
● 73 athletes, 30 team leaders
● 6,779 spectators over four days
● 42% of all visitors were from La Seu d’Urgell
● 22% of all visitors stayed overnight
The impact was quite interesting (€1 = $1.13 U.S.):
● €218,856: The “direct effect” of the event, meaning the organizing committee’s cost to stage the event.
● €1,862,118: The “associated effect” including athlete, team and visitor expenditures and any income received by the organizers.
● €1,048,367: The “induced effects” from the total of direct and associated spending, multiplied by the indirect and future impacts of the spending.
So, the actual spending, according to the study, was €2,080,974, pretty good for a four-day event with 73 athletes. Further, the €218,856 cost to put on the event brought back €8.5 in hard spending for every €1 spent. Not bad at all.
The study adds in the inducted effects and a “media effect” of €43,590 from publicity from coverage in the national (Spanish) media, including online, press and television.
Naturally, the study adds up everything for a total of €3,322,526 and claims a total return of €15.18 for every Euro invested, and €1,904,941 (57%) in the local area.
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Observed: This is a noteworthy study, because it is about a smaller event, in an Olympic sport which has very little profile, in a small Catalonian town.
While the study itself is not a raging endorsement of the benefits of the event – the ICF is crowing pretty loudly – it shows once again that in terms of economic impact, it’s all about the visitors, whether they be participants or spectators. They’re the key.
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