PwC Report: MS Amlin World Triathlon Series Generated $4.7 Million in April

Bermuda “generated an estimated $4.7 million for the island’s economy”, as a result of the MS Amlin World Triathlon Series (WTS), with “another $9.3 million” to go in “projected future tourism” revenue.

According to a report by PricewaterhouseCoopers [PwC]: ““The April 28 event—one of three annual International Triathlon Union [ITU] World Triathlon Series races secured by Bermuda through 2020, followed by the Grand Final in 2021—contributed $300,000 more to the island’s gross domestic product [GDP] than last year’s inaugural event.”

It was also noted by PwC that the 2019 edition “cost less to produce and attracted more participating athletes”.

A spokesperson said: “The study, conducted for the Bermuda Tourism Authority [BTA], analysed the economic impact of WTS Bermuda 2019 and found the event generated a 204-percent return on the Bermuda government’s $2.3-million investment this year.”

Bermuda will generate $14 million as a result of the event hosted this year.

The PwC study was commissioned by the Bermuda Tourism Authority (BTA),.which also found that the event generated a 204 percent return on the Bermuda Government’s $2.3 million investment this year.

The total cost of hosting the 2019 triathlon was $2.8 million, or 18 percent lower than last year, with about $600,000 contributed by sponsors and registration fees.

The event attracted 613 athletes, representing a 3 percent increase when compared to the number of participants last year, including both local and overseas competitors in both the amateur (516) and elite (97) categories.

Kevin Dallas, the BTA CEO, said: “For the second year in a row, we cheer the positive economic impact of WTS Bermuda, along with the tremendous legacy value the series continues to deliver.

“Future estimated visitor spending sparked by this year’s event alone is substantial.”

He also noted that the Triathlon brought long-term advantages, including community engagement, infrastructure, youth participation and accessibility, and produced and “immense boost to Bermuda’s profile as a world-class venue to host other major sporting events”.

“That’s a powerful legacy, and we thank everyone who made it possible, from volunteers to local businesses, spectators and athletes,” said Mr Dallas.

Some 1,378 people travelled to the island for this year’s Triathlon, including 352 overseas participants, 933 spectators, 45 organisers and 48 media representatives.

The report also said overseas spectators contributed $1.6 million, and overseas participants $600,000.

Participants came from the United States (64 percent), Canada (19 percent), Britain (13 percent) and Switzerland (3 percent).

They stayed on the island nearly six days on average, and spent an average $250 per day.

Other highlights selected by BTA included:

• One million television viewers saw the event via broadcasts in 13 countries
• 2,214 social-media posts reached 14 million fans in 54 nations
• Media exposure from the event was valued at $8.3 million
• The largest overall impact was expected on hotels and restaurants
• More than 550 volunteers helped out
• 73 per cent of both Bermuda resident and overseas participants said they were satisfied with the event

Minister of Tourism and Transport, Zane DeSilva, said: “By all accounts, the World Triathlon Series held April 2019 was a resounding success.

“The event and racecourse provided the ultimate stage for elite triathletes to test their mettle.

“It also gave us the perfect opportunity to showcase the best of Bermuda and strengthen our position as the pre-eminent destination for leisure and sports tourism in the world.

“I thank all those who participated in the event, and I look forward to the challenge of improving the experience for next year.”

Each year, there are eight rounds of competitions in different nations, culminating with a Grand Final, and athletes compete for championship points.

Races are held over the standard Olympic distance of 1,500-metre open-water swim, 40-kilometre cycle, and 10-kilometre run.

Bermuda Triathlon Association president Steven Petty added: “It’s encouraging to receive the positive impact study results for this year’s event, further strengthening the WTS relationship with Bermuda.

“We recognise the massive contribution by all local volunteers and our organising committee and look forward to building on the success of this event.”

The next WTS event will be held in Bermuda on April 18, 2020.