Dumfries and Galloway cycling event generates £1.8m for economy
The paracycling events of the UCI Cycling World Championships were staged in the region in August
Last updated 29th Jan 2024
A six-figure investment by Dumfries and Galloway Council to bring a global cycling event to the region helped to generate 14 times as much money for local businesses.
The paracycling events of the UCI Cycling World Championships, which were staged here from August 9-12, created a direct economic impact of £1,888,277, according to a study by financial experts.
And James Law Research Associates, who carried out an independent analysis of the economic impact, credited Dumfries and Galloway Council for a smart investment to ensure the cycling event went ahead in the region.
The firm produced a 67-page report, which reads: “The investment made by Dumfries and Galloway Council was fundamental in bringing 2023 UCI Cycling World Championships – para cycling to the region.
“The council’s investment of £130,000 was instrumental in achieving a direct economic impact of over £1.8M for businesses in Dumfries and Galloway.
“The direct economic impact is a measure of the total amount of additional expenditure within a defined geographical area, which can
be directly attributed to staging an event.
“Based on visitor and organiser spending, the direct economic impact is an assessment of the net increase in spending as a result of the event.”
In August 2021, South of Scotland Enterprise also committed £250,000 of its own funding towards the World Para-Cycling Championships, which was also crucial.
Now five months on from the cycling events in Dumfries and Galloway, a full review has been completed.
James Law Research Associates calculated that £1,003,167 was generated for the accommodation sector in ther region from 4,532 booked bed nights.
A further £546,634 was spent on by athletes and teams, spectators and event staff on food, drink and other items.
Meanwhile, £338,476 was spent by organisers, with contractors/suppliers based in Dumfries and Galloway, which further boosted the regional economy.
It was totalled that 1,326 local residents also spectated and are estimated to have spent a total of £68,952 over the course of the event.
The study reported that there were 411 competitors from 59 countries who spent on average 8.5 days in the region. It was also confirmed that 110 individuals volunteered a total of 3,018 hours.