If you’re tired of hearing non-runners complain about the inconvenience of road races, here’s a stat you can use to win the argument.
Runners, supporters, spectators, exhibitors, sponsors, media, suppliers and the organizer of the BMO Vancouver Marathon contributed close to $37 million to the city’s economy, representing 886 full time jobs.
With an event sell out of 15,000 runners, a top 10 destination marathon ranking by Forbes Magazine, and now the largest marathon in Canada, the race also stands as a major economic driver, according to a new economic report.
Event organizers have released results from an independent study showing both economic activity and economic impact. The study was assessed by Dr. Brock Smith of the Peter B. Gustavson School of Business at the University of Victoria measuring both economic activity and economic impact to determine the true economic scope of the event.
According to the study, the marathon generated almost $37 million in local (GDP) activity, $27 million of which was generated by event-related expenditures of the total spectator audience of 75,000, including locals and visitors. This spending supports the equivalent of 886 fulltime jobs in Metro Vancouver, and almost $2.8 million in local property tax revenues.
For economic impact, the event generated almost $25 million in net local income (GDP), $22 million of which was generated by event-related expenditures of an estimated 27,000 spectators who were visitors to metro Vancouver, who on average spent $407 per person during their stay. This spending supports the equivalent of 604 full time jobs in the metropolitan area, and almost $1.9 million in local property tax revenues.
“The 2012 BMO Vancouver Marathon has made a sizeable contribution to the Metro Vancouver economy, whether measured as economic activity or economic impact,” says David Diebolt, board chair of the Vancouver International Marathon Society, the non-profit organization responsible for the event. “After 41 years, the event has grown into an iconic destination event and now a significant economic contributor to our community”.
Registration for the 2013 BMO Vancouver Marathon will open on Oct. 1, 2012.