Golf Event Generated $17M Economic Impact
In advance of the 2023 event, the Bermuda Tourism Authority today released the 2022 PGA TOUR Butterfield Bermuda Championship economic impact report, saying that the “2022 event generated a total economic impact of $17 million, an increase of $5.1 million over the 2021 Championship, according to a report by KPMG Advisory Limited.”
A BTA spokesperson said, “The overall impact is comprised of incremental on-island spending of $7.2 million which then permeates into the economy, through value-chain spending [indirect effects] of $3.3 million, and further rounds of spending [induced effects] of $6.5 million which generated total economic impact of $17 million. This along with media exposure translated into a 609% return on investment.
“The Championship hosted 132 golfers with 631 volunteers assisting during the event. Approximately 3.7 million viewers from 218 countries and territories tuned into the 56 hours of coverage on Golf Channel and 387 hours of live global broadcast coverage which resulted in $7.6m tangible value of media coverage and $1.6m intangible value of media coverage [$9.2m total benefit].
“The tournament generated 3.14 million web visits and 1.62 million app visits. Additionally, there were high levels of engagement on social media with multiple posts trending on Facebook, Instagram, and Twitter from a series of high-profile media influencers.
“Attendance over the four days of the Championship was estimated at 2,499 individual attendees with 14% of the spectators being overseas visitors with the remaining 86% being Bermuda residents.
“Apart from the quantitative economic impact, there were intangible legacy and community benefits, which builds upon the successes of previous tournaments. These legacy and community benefits include $1 million in charitable giving, the participation of Bermudian businesses and golfers and the involvement of hundreds of local volunteers.
“Unlike the two prior Championships, travel protocols were eased significantly, alleviating some of the impact the pandemic has had on spectator attendance. While the travel authorisation was still required to travel to Bermuda, social distancing restrictions and capacity limitations were lifted, which contributed to an increase in the number of tourists and spectators visiting Bermuda specifically for the Championship. The 2022 Championship was again the sole PGA TOUR event on the calendar owing to the cancellation of the World Golf Championships [“WGC”] event in Shanghai for the third year running.”
Tracy Berkeley, Chief Executive Officer at the Bermuda Tourism Authority said, “By all accounts the 2022 Championship was a great success. Sports events including golf have been identified as growth opportunities in the National Tourism Plan and the investment in the Championship forms an important part of the sports event market and shoulder season calendar.
“The long-term impact of hosting the Butterfield Bermuda Championship creates benefits in terms of brand exposure and Bermuda’s ability to host sporting events. As part of our mission to ensure that Bermuda extracts optimal return on our sponsor investment, we have engaged an independent third party to assess the impact of the event. We are pleased that the tournament has demonstrated an uplift to our economy, contributed to the third sector, and elevated our visibility as a golf destination on the world stage.”
Danielle Carrera, Tournament Director for the Butterfield Bermuda Championship said: “We are thrilled with the result of the 2022 Butterfield Bermuda Championship. The event saw growth across all platforms, from hospitality, spectator and volunteer experiences, to enhanced media coverage and charitable impact to Bermuda. As we near the 2023 Championship we are excited to continue our upward trend as a stand-alone PGA TOUR event on the FedEx Cup Fall Schedule with a stronger depth of field and a larger footprint on course for stakeholders to enjoy.”
Hazel Clark, BTA Director of Global Business Development and Partnerships said: “We continue to hold a positive outlook on the Butterfield Bermuda Championship, which brings prestige to Bermuda’s sports tourism industry. This pinnacle tournament enables us to display our island’s golf product on a global scale, captivating both golf enthusiasts and holiday-seekers. Through various modes, including the valuable involvement of the APGA, the Butterfield Bermuda Championship allows us to showcase Bermuda’s warm hospitality and contributes to our ongoing efforts to diversify our visitor base.”
A spokesperson added, “KPMG Advisory Limited was engaged by the BTA to assess the economic impact of the 2022 Butterfield Bermuda Championship. To complete their assessment, they considered the actual spending that occurred in Bermuda as a direct result of the Island hosting the event. In addition to economic output, the report also considers other qualitative effects such as sustainability, legacy impacts, and brand value where practicable. The 2023 Butterfield Bermuda Championship is scheduled to take place from November 9-12 at the award-winning Port Royal Golf Course.”
The Economic Impact report follows below [PDF here]:
LOL. More lies….and $17M is nothing.
LMFAO
“and $17M is nothing”
I would say that a $17 million boost to our economy is a lot better than nothing.
It’s less than a weeks interest on your debt.
$17 million is still better than nothing
And $330m was unquestionably better than $17m.
If you accept the KPMG report on AC35. The PLP did not, at least not at the time.
No, the PLP did not accept what KPMG said. Then. But now they suddenly agree with KPMG. A remarkable change, for some reason.
It is unquestionable that $330m of positive economic impact is better than $17m.
The PLP have been known to lie to you to further their agenda.
How many times does it take before you question their validity?
Remember when the America’s Cup gave us a $330m economic boost?
Back when we actually had a half-decent government.
That number was clearly bogus. If I recall correctly, a lot of it was in theoretical advertising viewer reach from worldwide event broadcasting that hypothetically would generate into island visitors spending millions. As we all know, the visitor numbers never materialized. Most of the AC attendees were Bermuda residents. Millions went to the AC organization in royalties, sponsorships, and guaranteed payments, and that money left the island electronically in milliseconds.
Yes, the AC did many good things for Bermuda but the “economic boot” was smoke and mirrors. The huge plus side was the training vendors and Government entities received from the AC that carried on to other events. I know several vendors who were astounded by the requirements to do business with the AC but all said it was an invaluable learning experience and worth the effort.
Questioning the integrity of an independent review. hmm..OK.
Here’s the thing, the economic boost over the three years was huge, easily quantified and covered in detail in the report. Go look it up.
The real *miss* with the AC was the PLP’s visceral hate of anything to do with the event and, upon regaining power in 2017, completely refused to capitalise on the momentum it provided to the point now, where it’s all gone. Wasted.
The PLP, once again destroying opportunities for Bermudians.
I do not agree that the PLP Government “completely refused to capitalise on the momentum” that the Americas Cup provided.
The PLP Government continued with SailGP.
You obviously did not read how the numbers were calculated. But it is a fact that tourists did not flock in droves to Bermuda based on the AC broadcasts.
…and then the plp took over…and no one came to Bermuda, still.
You should stop comparing yourselves to the OBA, it makes you look weak.
I notice you’re not in the slightest critical of the claim that a golf game produces $17m in economic impact. That’s accepted without talking the bollocks you people bring up.
I, personally, am inclined to accept the report of KPMG Advisory.
I know that in the past the PLP has been highly critical at least one KPMG Advisory report, but any issue between the two seems to be resolved
The issues are ‘resolved’ now that it’s PLP tourism that is being evaluated. Suddenly the PLP completely believes the numbers with no problem.
These must be Dept of Statistics numbers. From the table on the right, above, it shows total economic impact $17m. Then the cost $4.3m, tangible benefit $7.6m, intanbgible benefit $1.6m, total benefit $26.2m. Makes no sense. Clearly a lot of benefit assigned to “social media”, which is not an actual $ benefit to Bermuda, despite what the BTA might like to champion, to get their awards.
There are a few technical terms for what you described.
1. smoke & mirrors
2. lipstick on a pig
3. Botox on a camel