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Copa del Rey Regatta Generates Turnover of Almost 11million Euros
Recent studies show a huge benefit of Mallorca hosting events like this
A study by Palma native, Joan Isern, for his Master’s degree in Management Protocol, Production, Organization and Event Design from the School of Communication at the University Camilo José Cela, has looked into the economic impact that the regatta has on the island of Mallorca, and it's good news for the Island's economy.
This study analyses the impact of this sporting event and the positive effects associated with it since its inception, including the prestige brought to the event by the presence of the Spanish Royal family.
Isern used data from the Mallorca Chamber of Commerce; a data set captured in 2004 and supplemented this with recent fieldwork to note the evolution of the financial figures involved. Looking at both the direct and indirect daily expenditure of the participants (sailors, ship owners, staff, family and friends) and their average length of stay, he concluded that the turnover generated in 2004 was €8.8 million and in 2013 it was €10.6 million.
Direct expenditure per person (involved with the regatta) per day in 2004 averaged at €216, well above the traditional tourist at just €84. The indirect spend per person per day was of €124. When Isern looked at the figures generated in 2013 he noted an increase of 20%.
When analysing the length of stay of the participants he found that the average stay was of eleven days, which exceeds the average stay of other nautical tourists (five to six days) and even traditional tourists (ten day).
The Copa del Ray Regatta has a huge economic, social and promotional impact on the island, and not only that generates a more positive image of Mallorca. This years event runs until the 9th August.
