Valencia Trinidad Alfonso Marathon and related tourism contributes more than 10 million Euros to the Valencian Economy
The Valencia Trinidad Alfonso Marathon gave a 10 million Euro boost in tourist spending to the city in 2014. These figures were confirmed in a study carried out by the Valencian Economics Institute (IVIE), lead by Joaquín Maudos, the head of Economics at the University of Valencia. The IVIE has monitored the economic impact of the marathon organized by the athletics club correcaminos and the Valencia local government since 2011
According to the IVIE report with an investment of 1,922,380 € The 2014 Valencia Trinidad Alfonso Marathon has considerably increased the economic return that this unique sporting event brings to the city of Valencia. The figure of 10,002,87 € translates as a 23% increase compared to the total of 7,727,703 € that the 2013 edition brought in to the city.
The Valencia Trinidad Alfonso Marathon is a clear example of private-public partnership in which the cost that public institutions incur is relatively small. Of the 1,922.380 Euros invested only 8% of the cost was met by public institutions, the remainder was fulfilled by event partners and sponsors (56%), and customer generated revenue through race registrations (36%).
The potential of The Valencia Trinidad Alfonso Marathon as a source of income for Valencia is notable and supported by the increase in tourist spending, taking the 2011 edition as an initial benchmark. The 2011 edition was the first to be analyzed for economic impact by the IVIE. In the 2011 edition the tourist spend represented a total of 1.3 million Euros. A figure that has now been quadrupled in the 2014 edition; an increase of 769%. This translates in real terms as a return of more than 10 million Euros flowing into and benefiting the Valencian Economy.
Sport-Tourist Customer Profile
It is also worthy of mention that in the report carried out by the IVIE, Spanish nationals normally travel in couples and stay in the city for 2 nights. International participants meanwhile, were found to generally travel in groups of 5 and stay in Valencia for periods between 3 to 4 days.
From the analysis of the total sport-tourism spend of 10 million €, 65.8% came from international runners/visitors and 34.2% from Spanish runners and visitors.
[vcr_note] The full report is available to download and view at: www.ivie.es [/vcr_note]