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The Program to Support Sports Competitions in the Valencian Community boosts tourist spending by €16.6 million

Every euro invested by the organizers produces an economic return of 16 euros in tourist spending

The Program to Support Sports Competitions in the Valencian Community (PAC_CV), promoted by the Spanish Olympic Committee and Trinidad Alfonso Foundation, has generated a tourist expenditure (incurred by participants and accompanying guests) of €16,663,130. Given that the cost of hosting the sports competitions in the Valencian region amounts to €1,015,475, there is a return of 16 euros in tourist spending for every euro invested by the organizers. These are some of the main results from the economic impact study directed by Joaquín Maudos and developed by the Ivie.

The Program aims to promote and support official sports competitions (national and international) through financial grants provided to Spanish federations that organize such events in the Valencian region.  The study also points out the role of PAC_CV as a powerful driver of wealth and tourism in the Valencian region.  Although the program is now in its second edition, the study focuses on the first which included 22 competitions. The Trinidad Alfonso Foundation allocates €500,000 annually to this program.

The main data highlight that PAC_CV has resulted in a direct boost in spending of 16.2 million euros in the Valencian Community (€834,782 spent by the organizers and €15,389,368 by the participants and accompanying guests). This expenditure has resulted in a total impact of €8,994,025 in terms of GDP (salary and wages and benefits) and 389 new jobs/per year in the Valencian Community.