Wollongong economy could get massive boost from UCI races

People have been complaining quite vocally about parking and traffic problems that will be created by the UCI Road World Championships that start on Sunday.

Read more: The four questions UCI organisers keep being asked

But reading studies of the economic impact of the event in previous years suggest it will be well and truly worth it.

Last year, the event was held in Flanders, a region of Belgium, spread across four cities with teams isolated in "bubbles" due to the risk of COVID.

Despite this, an Ernst and Young economic assessment commissioned by UCI found the week-long road world championships delivered a huge boost to the local economy.

It estimated visitors spent $A53.5 million over the course of the event.

"Total attendance over the course of the event was estimated to be 1,520,000 with around 1,030,000 unique spectators, 138,000 of whom travelled from outside of Flanders," the report stated.

"These visitors, in addition to 501 media staff and 1400 team members, contributed to significant economic activity within Flanders."

In 2019, the world championship were held in Harrogate, Great Britain, just north of Leeds.

After the event, held in September, the local council commissioned Ernst and Young to look into the economic benefit to the city.

The study found the event attracted 69,000 unique spectators to the city, "contributing to total event attendance in Harrogate of over 299,000 over nine days".

Those visiting spectators spent more than $A38 million during their stay, the report found, including $A121 per person per night on accommodation.

The most recent world road championships to be held outside Europe was in 2015 in Richmond, on the east coast of the United States.

A study by Chmura Economics and Analytics - which may have gilded the lily somewhat - found visitors spent $A111 million while at the race.

It attracted 645,000 spectators, on top of the 5284 competitors, support staff, race officials and media.

However, it should be noted those figures have come in for some criticism as they are in part extrapolated from a survey of just 407 spectators.

So while the race likely generated millions in spending, more than $100 million might be overstating things a bit.

Still, it showed that people do turn up and do spend money.

Which is what people in Wollongong are hoping for.

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