Initial figures indicate that Galway welcomed over half a million visitors, over the last two weeks, during the Volvo Ocean Race Festival.As the only stopover during the race in Ireland or the UK, the potential economic impact was already expected to be significant for Galway. An impact study carried out by Deloitte in April last year predicted that almost €44 million, in both a direct and indirect economic impact, would result from the Galway stopover.This survey was based on an estimated 140,000 visits but, although official final figures are not yet available, it is estimated that there were actually up to 350,000 visits to the race village over the last two weeks. Local estimates also point to an additional 200,000 visitors in Salthill over the course of the stopover festival.
The stopover ends tomorrow with the departure of the participating sailing teams in the Volvo Ocean Race to Marstrand in Sweden. The President Mary McAleese, will perform the official farewell as the boats depart Ireland and the Air Corps will salute the sailors with a special fly-over in their honour.
Noting the enthusiasm of all who attended and the strength of the feel-good factor in Galway over the last two weeks, Shaun Quinn, CEO Fáilte Ireland, stressed that the festival had shown Ireland at its best. In particular, he emphasised – “This festival has certainly had a significant economic impact locally over the last fortnight and has given the local tourism industry a much needed boost. Also, significantly, the pictures from Galway which have been beamed all around the world have strengthened Ireland’s image as a must-visit destination for tourists as well as our reputation for hosting future world class sporting events”.
The festival kicked off with the arrival of the boats in Galway on May 24th (on the seventh leg of their voyage from Boston). The race originally commenced in Alicante, Spain in October 2008.
The race festival will leave a tangible legacy to the city. In the build up to the stopover, Fáilte Ireland invested in the Galway Docklands Re-development project. A sum of €1 million was injected into the development of marinas and visitor moorings in the Galway area and these will remain after the event – greatly enhancing the marine tourism appeal of the City.
Festivals, such as the Volvo stopover, are a key driver of tourism. This year Fáilte Ireland will be investing approximately €4 million to support 200 festivals - large and small - throughout the country. Although the Volvo Festival may be coming to a close, a full Summer of events lies ahead.
Fáilte Ireland
Fáilte Ireland, the national tourism development authority, was established in 2003 to guide and promote tourism as a leading indigenous component of the Irish economy. The tourism and hospitality industry employs over 250,000 people and generates more than €6 billion in revenue a year.
International Sports Tourism Initiative
Fáilte Ireland administers the International Sports Tourism Initiative, which was introduced in January 2000 to build Ireland’s international reputation as a quality sports destination and, consequently, to increase sports tourism, a growing element in international tourism and travel.
Support is given in the form of sponsorship towards events that meet the criteria of the Initiative and deliver substantial tourism and commercial benefits to Ireland and the Volvo Stopover is one such event.
Key events supported through the Initiative previously include the Ryder Cup, Rally Ireland, the Tour of Ireland and the Solheim Cup.
Volvo Ocean Race
The Volvo Ocean Race, the world’s premier yacht race for professional racing crews, began on October 11th 2008 when the sailing group set out from the port of Alicante in Spain.
On 24th May 2009 they arrived in Galway after travelling some 37,000 nautical miles and calling in ports in Cape Town, Kochi, Singapore, Qingdao, Rio de Janeiro and Boston.
Galway was the first European stopover after the long haul destinations and will be a key European destination in terms of tourism development. In fact Galway is the only stopover in Ireland or the UK.
Benefit to Ireland
A potential economic impact study carried out by Deloitte in April 2007 found the following:
Predicted €35.4m direct return on investment
A further predicted total of €8.3m return on investment in indirect expenditure
Predicted 140,000 visitors to Galway over the two weeks
Predicted global audience of 1.8 billion
