The economic impact assessment of the 2003 Road World Cycling Championships,…
The economic impact assessment of the 2003 Road World Cycling Championships, held in Hamilton, Ontario from October 6 – 12, was released by the Canadian Sport Tourism Alliance.
The Championships generated a total estimated economic activity of $48.3 million in the province including $31.1 million in the Hamilton region and an additional $17.2 million for other regions in Ontario. These totals resulted from $19.7 million in combined operations, capital and visitors spending. The event contributed nearly $20.3 million to the provincial GDP. A total of $13.9 million in wages and salaries were paid in the province, supporting more than 527 jobs. In the City of Hamilton, wages totaled $9.4 million and nearly 410 jobs. The total level of taxes received by all levels of governments as a result of the event was estimated to be more than $8.4 million, distributed as follows:
- $3.8 million accrued to the federal government
- $3.3 million to the Province of Ontario
- $1.4 million to municipal governments, including $980,000 to the City of Hamilton.
The Championships involved over 900 participants and an estimated 23,800 other visitors to the region.
The Canadian Sport Tourism Alliance conducted the study in partnership with the Canadian Tourism Commission, the Province of Ontario, the 2003 Road World Championships Organizing Committee and Sport Canada. To conduct the assessment, the CSTA used the Sport Tourism Economic Assessment Model (STEAM) which measures the economic benefits of a sport event on a community. Approximately 1,040 on-site surveys were conducted and collated at the event using Techneos Systems Entryware Designer and Entryware Professional software.
Congratulations to the organizers, volunteers, athletes and partners involved in hosting the successful 2003 Road World Cycling Championships. The Government of Canada is proud to be among the funding partners that brought this event to Hamilton, said Minister of State (Sport) Stan Keyes. Hamilton will certainly benefit from the hard work and from the significant economic and sport legacies that come from hosting such events.
The success of the World Cycling Championships demonstrates Ontario`s capacity to host international events, said Jim Bradley, Ontario`s Minister of Tourism and Recreation. Hosting these events enhances tourism, economic development, investment in infrastructure and provides an opportunity to showcase Ontario to the world.
Our goal first and foremost was to promote Hamilton to the world, and secondly to stage a first-class event, noted Organizing Committee Chair David Braley. The success of this event ensures Hamilton`s future as a centre of cycling excellence.
Visitors from across the country and around the world were able to experience the beauty and warmth of Hamilton. This resulted in a great confidence booster for our community, said Hamilton Mayor Larry Di Ianni. It is also particularly gratifying to see the substantial economic benefits that events such as this can bring to Hamilton.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.