2009 Tour of Missouri Economic Impact Study

by Clydesdale on Oct 1, 2009 1:29 PM EDT

Lt. Governor Kinder presented the economic impact study results today showing that the Tour Of Missouri not only has been successfully growing all three years of it's life cycle.

2007 26.2 Million in Revenue with 368,000 Spectators.

2008 29.8 Million in Revenue with 434,000 Spectators.

2009 38.1 Million in Revenue with 500,000 Spectators.

Pretty nice return on investment from 1.5 Million from the state.

Body of Email after the jump

Lt. Governor Kinder Presents 2009 Tour of Missouri Economic Impact Study
Third annual race proves to be most successful
BRANSON, MO - October 1st, 2009 - Lt. Governor Peter Kinder, chairman of the Missouri Tourism Commission and Tour of Missouri, Inc., presented economic impact results from the 2009 Tour of Missouri during a meeting of the Missouri Tourism Commission today in Branson.
"The 2009 Tour of Missouri was met with tremendous support all across our state and I am proud to report that the numbers prove the same," said Lt. Governor Kinder. "Over 4,000 volunteers worked tirelessly to showcase Missouri across the globe as a world-class tourist destination. We were blessed with great weather through the entire week and, even though we visited smaller towns on this year's revised route, spectators from all across the world helped us surpass last year's success to once again make the Tour of Missouri the largest sporting event ever held in our state."
Throughout the week, 500,000 spectators were estimated to have watched the race at one of the 11 host cities or somewhere along the 600 mile route which passed through many communities in Missouri. In 2008, an estimated 434,000 spectators saw the Tour at some time during the seven stages. In 2007, there were nearly 368,000 spectators who watched the race.
The total economic impact by spectators during the seven-day event was $38.1 million, that's up from $29.8 million in 2008 and $26.2 million in 2007.
"This year's race was a huge success thanks to the tremendous efforts of each of our host cities, corporate sponsors, Missouri State Highway Patrol, Missouri Department of Transportation and spectators from across the world," Lt. Governor Kinder said. "I am very pleased that for the state's investment of $1.5 million in the Tour of Missouri, we were able to return over $38 million to communities in our state."
During the course of the seven day event, the average out-of-state visitor spent over $220 per day during their visit. In planning their trip, 83% of non-Missourians said the Tour of Missouri was the reason they came to spend time in Missouri. The average out-of-state visitor spent more than four days in the Show-Me State.
The Tour of Missouri also showcases Missouri to a global audience via live coverage on the Internet and on television.
This year, the Tour's official website, www.tourofmissouri.com, received hits from visitors in 153 countries and territories. An estimated audience of 5.6 million people watched nightly highlight shows on the Versus television network and an estimated 1.4 million people watched highlight shows on Fox Sports Midwest and Fox Sports Kansas City.
Following the 2008 Tour of Missouri, the International Cycling Union, the sanctioning body for professional cycling, raised the ranking of the Tour of Missouri to a prestigious 2.HC ranking, making the event one of the top five races outside of Europe. The increased international appeal helped attract seven pro tour teams who competed just weeks before in the Tour de France.
The 2009 Tour of Missouri economic impact study was conducted by IFM Sports, an international leader in sports marketing and research. IFM is a global company based in Germany with American operations based in St. Louis, MO.
IFM Sports conducted the economic impact study for the 2008 Tour of Missouri. They have also provided similar reports for groups such as: Major League Baseball (MLB), the International Cycling Union (UCI), the International Tennis Federation and the National Basketball Association (NBA), among many other professional sporting organizations.
At today's Missouri Tourism Commission meeting in Branson, Lt. Governor Kinder pledged his support for a 2010 race and urged fellow commissioners to also support bringing the event back for a fourth year.
Contact: Gary McElyea
573-751-1088
Gary.McElyea@ltgov.mo.gov

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Did he

show his work, somewhere?

by Sui Juris on Oct 1, 2009 1:50 PM EDT reply actions

ha

by civetta on Oct 1, 2009 1:57 PM EDT up reply actions

Seems like a great investment.

( How long before the haters get on their soap boxes and try to bring the race down? The race went by my child’s school and they led the kids out to the roadside to watch, it’s indoctrination I say, Indoctrination and I won’t have any of it!" )

Makes me wonder why a major company couldn’t get involved and buy the naming rights. Budweiser for instance would be cool, they could bring those other Clydesdales and promote themselves at every city.

The first cyclist to stand up to him. And he did it in silence.

by flying dog on Oct 1, 2009 1:55 PM EDT reply actions

About this

During the course of the seven day event, the average out-of-state visitor spent over $220 per day during their visit.

I would say that this is the only relevant number here, so do we know how many non-Missourians that visited ToM and for how many days?

The issue here is what economists call the opportunity costs. The people from the state would have used their money in some other way, and as long as the alternatives are not saving at home or go to another state, what they buy should not be counted as revenue. But what people from other states bought is relevant.

Staring at the swim team gets you killed by a gang of dancing ninja men who know how to twirl.

by TheFigurehead on Oct 1, 2009 2:10 PM EDT reply actions

But you do have to count it.

They could go to another state. That is the dilemma in these numbers and all like them.

by Markk on Oct 1, 2009 11:18 PM EDT up reply actions

or, frankly, not get out of bed.

by civetta on Oct 2, 2009 5:56 AM EDT up reply actions

We spent money like sailors on shore leave.

I bought meals, beer and trinkets every day.
For twelve

by MavicMoto on Oct 5, 2009 8:53 AM EDT up reply actions

As a resident I would say

That I passed up opportunities to vacation outside the state and spend money here instate. So you alos have to factor in how many residents stayed home to follow and spent money as opposed to traveling elsewhere.

Beware the Argyle Unicorn!!

by Clydesdale on Oct 1, 2009 4:03 PM EDT reply actions

Which I also mentioned

But still. as long as we don’t know anything about how many the non-Missourians were the numbers above are not interesting.

Staring at the swim team gets you killed by a gang of dancing ninja men who know how to twirl.

by TheFigurehead on Oct 1, 2009 5:01 PM EDT up reply actions

what is interesting is

an American Governor saying what a big success the event was ….

Moo

by Willj on Oct 1, 2009 5:08 PM EDT up reply actions

I'm too big a cynic

To say something else than that was to be expected, regardless if it was a success or not. I would’ve been surprised if he said that the money was wasted.

But maybe we’re too close to politics here.

Staring at the swim team gets you killed by a gang of dancing ninja men who know how to twirl.

by TheFigurehead on Oct 1, 2009 5:22 PM EDT up reply actions

You lie!

by Frinking on Oct 1, 2009 5:50 PM EDT up reply actions

Ha!

Good one

Staring at the swim team gets you killed by a gang of dancing ninja men who know how to twirl.

by TheFigurehead on Oct 1, 2009 5:56 PM EDT up reply actions

until Chris

has to awkwardly intervene, I’d promote this as a perfectly acceptable branch of conversation here. Me, I’m generally negative about public participation in private sports ventures, but there are still lots of net benefits to it.

by Sui Juris on Oct 1, 2009 7:04 PM EDT up reply actions

Definitely

All political scepticism aside (which I have in spades, believe me), that’s an undeniably positive development.

by Sui Juris on Oct 1, 2009 7:01 PM EDT up reply actions

I flew in from Utah...

followed the race for 6 days. Stayed in a hotel for 5 of those nights. I would go back next year in a heartbeat…and in fact would do this race over ToC.

by cyclingdiva on Oct 1, 2009 9:01 PM EDT up reply actions

I drove in from Chicago and stayed in hotels and ate at places and drank beer.

And I bought sutff for me and for friends that couldn’t make it. I didn’t spend $220 a day but all of it added up.
I too am planning on this being an annual event and will do this over ToC any given day. It was blast.
Easy to get to everything. And we chalked. :-)

I'm ready for this road season to wrap up. Bring on Cross!

by nikki on Oct 6, 2009 11:43 PM EDT up reply actions