0

IAAF World Relays economic impact 'three times' initial investment

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

Minister of Youth Sports & Culture Dr Daniel Johnson said yesterday that the economic impact of the inaugural International Association of Athletic Federations (IAAF) World Relays held in New Providence back in May generated “three times” the $10 million invested by the government to host the event.

Dr Johnson also stated yesterday that 2016 is expected to be a “break-out” year for this nation’s sports tourism sector.

Speaking at a press conference hosted by officials of the Federation Internationale de l’Automobile (FIA), the world governing body for motor sports of which this nation is now a member, Dr Johnson said that the government was looking to brand five major events for sports tourism in The Bahamas.

“We are branding now five major events of sports tourism in The Bahamas. One is LPGA, we have NCAA sanctioned basketball games every year and now we have NCAA college football, the only bowl game outside the US starting Christmas Eve this year at the Thomas A Robinson Stadium. We are looking for two more signature events. Baseball is back, I know we are going to have a huge baseball tournament event next year and I’m hoping that motors ports becomes one of those signature events. I cannot leave out sailing. You will see some major sailing in The Bahamas,” said Dr Johnson.

He said that hosting such events were an investment in The Bahamian economy and the Bahamian people. “This year, we did the World Relays in The Bahamas. We, the government, put up about $10 million for that event. We have reasonable estimates that we would have made an economic impact of three times that amount. The better we get at this, the more we will do. The better sponsors that come on aboard, the less it costs,” said Dr Johnson. He noted that the Bahamas is set to host the relay event again in 2016.

Comments

Use the comment form below to begin a discussion about this content.

Sign in to comment