Commercial Impact Studies - measuring the impact of Tall Ships events

Commercial impact studies produce useful data which help decision makers when bidding to be, and preparing to be, a host port. After commissioning a comprehensive and professional commercial impact study, Turku, the Finnish host port of The Tall Ships Races Baltic 2009 race, found that their investment of €1.5m gave a return of around €26m - well above expectations -despite one day of very heavy rain. The Klaipeda investment was lower and final impact statistics are not yet available, but they are expected to be significant with almost half the population of the country visiting the City.

The Tall Ships Races Baltic 2009 in Turku was the largest event held in Finland in 2009 with some 530,000 visitors. The average spend per person was estimated to be €50 per local resident and €115 per visitor. Food and beverage accounted for the highest spend both in Turku, and also in Klaipeda.

Other useful information drawn from the data showed that marketing outside the host city was at least as important as local advertising due to the very large numbers of visitors and their spending capabilities. In the case of Turku, it was felt this spending capability was limited only by the availability of hotel accommodation, which reduced the number of days visitors returned. The facilities available for children, including suitable items for purchase, was deemed to be an important element in visitor spend. In Turku this included the ‘Balticat’ toy, which was widely available and used as a mascot.

The City of Klaipeda hosted the event for the first time in 2009, coinciding with the millennium celebrations of the city, and drawing in nearly half the country’s population. With a budget of €473,000 the organisers relied heavily on volunteers and university support. Due to budget restrictions a professional economic impact study could not be completed, however, the figures obtained from police estimates, traders and a survey carried out by the volunteers who questioned 200 visitors and 200 crew members, provides a useful picture of the event to help future decision making. Local spend has been estimated as €20 per person whilst visitors spent an average of €35, again indicating the need to market well beyond the immediate area to attract the highest spenders. Equally important are the satisfaction ratings that were evident in both surveys, all of which were very high.

Speakers
Sami Liukka, Research Director, Eccu Finland Ltd

Kipras Paldauskas, Project Manager The Tall Ships Races Klaipeda, Lithuania