In addition to the already large numbers of participation in the Trinidad Alfonso Valencia Marathon, the fiscal impact of the event is now added, which, for the first time, has been analyzed by the Valencian Institute of Economic Research (Ivie) in its annual economic impact analysis. .
And this stands at more than 9 million euros, which means that for every euro spent on the organization, 1.5 was generated in taxes collected. Of these 9 million revenues for public administrations, 11.7% are taxes borne and/or collected directly by the organizing committee of the event, while the remaining amount is generated indirectly and induced by that initial expense and by the arrival of runners and their companions.
The report was presented this morning in Valencia by Joaquín Maudos, economist and deputy director of research at the Ivie, who has prepared the exhaustive analysis together with Eva Benages, the entity’s economist. In his didactic explanation, Maudos has highlighted that in addition to the novelty of the tax impact of the sporting event, it is noteworthy that the value of the turnover sales of the Valencian companies in this context amounts to 58 million, in addition to the real impact on the Valencian income in 2022 reached 17.4 million euros, 5.2% more than in 2019 in real terms. An “important figure”, according to Maudos, because it directly impacts the quality of life of the citizens of Valencia.
On the other hand, the impact on employment is also growing. Thus, the services sector is the one that receives the greatest impact: both in terms of income and employment, with special incidence in the hotel industry, business services and local commerce.
The conclusion is that the impact on employment is equivalent to the creation of 571 full-time jobs per year, which represents an increase of 9% compared to the 2019 edition.
In the analysis of tourist spending, the Ivie concludes that this is 26,852,259 euros, which is divided into 43.3% in accommodation, 28.3% in restaurants, 11.2% in transport, another 9 % in commerce and 8.2% in leisure and other activities. In this data, the importance of the increase in international registration is fundamental, explained Maudos, since this year 51.81% of the runners are foreigners.
After a survey of nearly 600 of them as a sample, the study establishes that they spend an average of 136.2 euros per day, that they come accompanied by 2.8 people and that they stay in the city for 3.8 days, two more than the stay made by the national runner (26.8% of registrations).
According to Maudos, the most notable thing is that the Marathon has “a growing economic impact that translates into more income and employment for Valencians and in income for public coffers. If for every euro spent on your organization, three euros of income, is a clear demonstration of the social profitability of holding the Marathon in Valencia”.
The management committee of the Trinidad Alfonso Valencia Marathon also took part in the presentation. The president of the SD Correcaminos, Paco Borao, has stated that “the Valencia Marathon is a tireless generator of good news for the city”, while the Councilor for Sports Javier Mateo has assured that “the Valencia City Council will continue to support this event to reinforce the ‘Valencia brand’ all over the world”.
Finally, the director of the Trinidad Alfonso Foundation, Juan Miguel Gómez, has estimated the number of television channels that broadcast the marathon at 400: “How much can the Valencia brand be worth in that space of time?”, he asked himself.
