Goal To ‘Leverage The Longer-Term Value’

The Bermuda Tourism Authority said they aim to “leverage the longer-term value through a healthy return on investment,” saying they view the island hosting the World Triathlon Series as “part of an investment that can bring returns for many years to come.”

The event was held this past weekend with an elite men’s race attracting over 50 top international male triathletes, and the elite women’s race featuring over 30 top female triathletes, with the women’s race serving as the highlight for most Bermudians as we were able to watch our own Flora Duffy race to victory on home soil.

The elite races were broadcast internationally, with the BTA noting this included the three countries that “have the biggest impact for Bermuda tourism” – NBC Sports in the United States, CBC in Canada, and BBC in the UK.

In advance of the elite races, there were amateur age group races, which also attracted some international competitors, a kid’s race, feather mile and an opening ceremony, with the triathlon festivities spanning three days.

Bermuda will host the event again for the next two years,  and the BTA said they aim to build “Bermuda’s profile as a sports tourism destination and media exposure through the television and other editorial coverage.”

The Government grant for the planning and execution of this year’s triathlon was $2.9 million the BTA confirmed, adding that “the grant amount will be lower in each of the next two years, partly because there are start-up costs in year one that will not recur in subsequent years.”

In explaining the logistics behind the management, the BTA told Bernews, “The Bermuda Tourism Authority established WTS BDA Ltd. as a separate entity through which the MS Amlin World Triathlon is managed administratively.

“Investment into the event — government grant, sponsorships etc — flow into WTS BDA Ltd. and out again to cover related costs such as local services, and contracts.

“Private sector sponsorship funding – in cash and in kind – has facilitated enhancements to the event, beyond the required technical operations. This is in order to set apart the World Triathlon Bermuda experience from the other seven stops on the global circuit.

“For example our Opening Ceremony is distinctly different from anywhere else – not to mention the kids’ duathlon and local legacy training programme.

“This is a three-year endeavour for Bermuda, hopefully leading to a Grand Final event in 2021. Fundamentally, the goal is to cover costs and leverage the longer-term value through a healthy return on investment.

“Internally we view this event not as merely an expense but part of an investment that can bring returns for many years to come. Those returns include future travellers, building Bermuda’s profile as a sports tourism destination and media exposure through the television and other editorial coverage.”

The BTA added that there will be a report that gives information and data as far as ROI analysis.

#BermudaTourism #Triathlon #WTSBermuda

Category: All, Business, News, Sports