The economy wins as race goes global

Tour de France 2014 Stage 2 - Fans at the finish line in front of Sheffield Forgemasters
Tour de France 2014 Stage 2 - Fans at the finish line in front of Sheffield Forgemasters
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The hope was for a 10-fold return on the investment - and the ‘grandest Grand Départ’ looks set to have delivered for Sheffield.

The City Council stumped up £900,000 - it’s biggest ever investment in a single event - and early indications are it will have paid off in spades.

The economic impact of hosting the world’s greatest cycling race has been conservatively estimated to be worth £100m to the Yorkshire economy.

Added to that is the immeasurable benefit it will do to the city’s reputation, the links with business visitors that would never have ordinarily been made and the priceless value of the exposure nationally and internationally.

Marketing Sheffield was tasked with maximising the economic benefit of Stage 2 of the Tour de France which finished at the Arena. It worked with Welcome To Yorkshire and partners to organise the race.

Director Brendan Moffett said: “It’s the biggest thing we have ever delivered and it reinforces our credentials as a great host.

“We had a lot of visitors and investors, quite a few of whom came up from London and they were wowed by it all.

“In terms of increasing our profile and spectator numbers, they exceeded expectations and it really seems to have captured the imagination nationally and internationally.

“And, anecdotally, simply showing Yorkshire to the world means loads more people will come here.

“The next challenge is to follow through on that and work hard to make sure that happens.”

Formally calculated economic impact figures are set to be published in a few weeks, he added.

Gary Verity, chief executive of Welcome to Yorkshire, said: ““We might have to revise those economic impact figures after the scenes we have witnessed this weekend.”