Research commissioned by Coleraine and District Motor Club, organisers of the International North West 200, showed the 2010 road racing event generated approximately £4.5million for the local economy and, with an economic multiplier applied, the benefit to Northern Ireland was £7.79million.
The economic impact report, undertaken by tourism consultants TTC International, also revealed some 90,000 spectators attended race week, and that the event delivered an employment impact of some 150 jobs.
It was also shown 10 to 11% of NW200 spectators come from outside Northern Ireland and, in a time of economic uncertainty, the event helped secure over 60% full occupancy levels for local accommodation suppliers including hotels and B&Bs.
The organisers said that with a focus on public monies invested on tourism related events, the International North West 200 had delivered exceptional value for money, with every £1 spent returning £30 to the economy.
North West 200 race director Mervyn Whyte MBE said:
“This Economic Impact report is excellent news for Coleraine and District Motor Club Ltd. It reflects the importance and value of the International North West 200 to the North Coast and Northern Ireland as a whole.”
The report's findings were further welcomed by the Mayor of Coleraine Borough Council, Cllr Norman Hillis.
“The research that has been carried out is valuable for the North West 200 event. This has been one of the most difficult years in which to run major events with the downturn in the economy hitting both local Northern Ireland race fans and those coming from further afield such as GB and Europe.”
“I congratulate the Coleraine and District Motor Club on yet again staging a wonderful racing spectacle despite the recession and recognise the huge economic contribution that this event generates for the local area and for all of Northern Ireland. The research report provides a useful baseline upon which to build for the future.”