FOR IMMEDIATE RELEASE
Victoria Marathon Society Announces Results of Economic Impact Analysis
(Victoria, BC - January 24, 2011). The Victoria Marathon Society has
announced the results from its Economic Impact Analysis on the 2010
GoodLife Fitness Victoria Marathon. The event, which took place on Sunday,
October 10, 2010, created a total economic impact on marathon weekend of
$7.1 million.
The purpose of the analysis, conducted by the Economic Planning Group, was
to estimate the economic benefit of the Victoria Marathon, held every year
on Thanksgiving weekend. These benefits were measured by tallying the
spending of competitors, spectators, volunteers and the Victoria Marathon
Society, which organizes the annual event.
The event attracted over 14,000 participants - a record for the event -
with competitor spending totaling $1,878,000. 6,600 spectators made a
significant contribution at $743,000, and for the 1,470 volunteers,
spending was estimated at $41,000. The three-day Race Expo and Media
interest attracted $42,000, and the Society's expenditure - three-quarters
of which was spent locally - came to $764,000. Indirect effects of the
event - which measures the change in economic activity generated by
spending in the sectors that supply goods and services used in the direct
activities - came to $3.3 million. Induced effects - which measures the
impact created by the additional income accrued to individuals whose work
was created by these activities - totaled $370,000.
"The growth of this destination event, which now has such a strong
international reputation, creates a long term and favourable foundation for
business in our region," said Rob Reid, Race Director and business owner.
"This impact is seen as a peak for our yearly business. Annual events with
constant growth and significant off-island tourists, drives our economy and
is felt on numerous levels - from workforce, retail, food and beverage,
hotel, and transportation to the collection of taxes."
"The GoodLife Fitness Victoria Marathon has grown into one of Victoria's
most significant annual events and the economic benefit to the tourism
economy is clear," said Helen Welch, Tourism Victoria's VP Visitor Services
& Market Development. "The Marathon Society does an excellent job managing
this event and we will continue our work with them to ensure we maximize
the potential of this great sporting experience."
The 2010 event was the most successful event ever, according to Victoria
Marathon Society President, Bob Reid. "The Marathon not only injected a
record $7 million into the local economy on Thanksgiving weekend, but it
attracted over 14,000 participants and 7,000 supporters making this the
largest sporting event in Victoria. Our new title sponsor, GoodLife
Fitness, was a perfect fit in partnering a health and wellness business
with a well established physical fitness event. The end result included
many value-added features for the participants and a huge benefit of
$490,000 distributed to 22 charities. 2010 was perhaps our most successful
of the 31 years that the Victoria Marathon Society has hosted the race, and
the addition of a like-minded, active lifestyle, title sponsor produced yet
another tourism winner for the City of Victoria!"
The Victoria Marathon Society last conducted an economic analysis in 2001,
when the impact was measured at $1.2 million. The event then had 6,800
participants with a competitor spending of $723,357. Just over 3,000
spectators spent $16,856, volunteers $49,500 and the Society $465,329.
The 32nd Annual GoodLife Fitness Victoria Marathon takes place Sunday,
October 9, 2011; in addition to the Marathon there is a Half Marathon, 8K
Road Race and Thrifty Foods Kids Run & Marathon. For more details, visit
www.runvictoriamarathon.com
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