April 2016

The Tour de Yorkshire and Leeds local economy

Author: White Rose Office Park

Tour de Yorkshire Leeds

This month sees the return of the Tour de Yorkshire following the incredible success of last year’s event. Not only was the event a true showcase of sporting achievement, but also brought recognition and cultural prestige to our region. With this in mind, we have explored the positive effects the event had on Yorkshire’s businesses, crunching the numbers to compile an overview of how the Tour de Yorkshire has positively impacted the county’s economy. Following the triumph of 2015’s race, more businesses than before will be looking to adorn themselves in yellow, green and polka dots to get a piece of the action. Here’s what they can expect…  

The total spend

In total Welcome to Yorkshire’s Tour De Yorkshire event brought in excess of £50 million to the region’s economy, with over 40% of the total being spent on accommodation, boosting the region’s hospitality industry over that period. The event also brought Yorkshire into the focus of not only the rest of the UK but also the world, with 21% of all spectators being either national or international visitors. Each of them contributing to the £29.5 million spent on transport, food, drink and souvenirs over the three days.

Speaking to Bikebiz in 2015, Sir Gary Verity, chief exec of Welcome to Yorkshire, said:

“These are tremendous figures for the first edition of the Tour de Yorkshire. To generate £50 million on race weekend and attract many visitors to the county just demonstrates how popular cycle racing in Yorkshire has become and how valuable hosting the races is to our regional economy.”

In addition to local economic success, Welcome to Yorkshire’s work with the government’s export and international trade body, UK Trade and Investment, welcomed 2,000 participants from 25 countries to the International Festival of Business held in conjunction with the Tour’s Grand Depart in 2014. 25 events held across Leeds, Sheffield and York showcased the heritage and strength of Yorkshire and UK economies, launching a new business network with China.

So, what can we expect this year?

Again, the eyes of the world will fall on the region and local businesses are well prepared. Building on the previous year, Tour de Yorkshire roadshows held in January spoke to over 1,000 businesses in the areas the race will be taking place. Offering advice and support to those looking to capitalise on the wide audience the event brings, the roadshows held by Sir Gary Verity looked at helping businesses large and small to make the most of all opportunities the event provides.

Ultimately, the benefits of hosting were more than just a sizeable economic boost. Last year 60% of spectators were inspired to cycle more frequently, and 98% of residents from the host towns felt that the race had been positive for their local area. Showing just how advantageous this sporting spectacular has been on the economy of Leeds, Yorkshire and the UK as seen through the local people.

If you’re looking to become part of a county passionate about growth and cultural expansion see our available space here or contact one of our agents to arrange a visit.

Jeff Pearey
JLL – 0113 261 6236

Adam Cockroft
Cushman & Wakefield – 0113 233 8866

Jonathan Shires
CBRE – 0113 394 8820

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