DUBLIN IS getting itself shipshape for the four-day visit of the Tall Ships Race from August 23rd. The organisers expect 1 million people to attend over the four days, generating an economic impact of €30 million for the city.
I’m not sure what “economic impact” means exactly. Given that 90 per cent of the spectators will be derived from Ireland, wouldn’t that money be spent in the economy anyway? Maybe not.
Either way, a €30 million spend is bound to be positive for businesses in the capital that weekend, especially as 10 per cent of spectators are expected from overseas. Britain, France, Germany and the US are the main markets being targeted. There’s also the small matter of 3,000 crew coming to town.
Belfast generated about £15 million (€19.1 million) in 2009 when 500,000 people turned out to see the ships. The following year, the port city of Hartlepool in the northeast of England drew crowds of 970,000 for the race.
This included a delegation from Japan, who wanted to measure the impact of the race locally with a view to using the event as a catalyst for regeneration in some of its coastal towns.
Hopefully, Dublin’s legacy will not mirror that of Hartlepool. The local council there was left with a £720,000 (€918,000) funding shortfall from hosting the Tall Ships.