How Much Is Ironman Worth To Lanzarote?

I was chatting to some friends the other day on Facebook.

We were talking about the value that Ironman, which is the island’s biggest event, brings here.

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Knowing that one of the people in the conversation is a statistician and economist, I deliberately threw in the line that the value is “Incalculable.”

I’m pleased to say Adam Simmons took the bait!

Within an hour I had a detailed analysis in my inbox.

  • He downloaded a copy of the start list
  • Took out a percentage to discount local residents
  • Assumed an average number of “extra” people (wives husbands and kids) who would visit with “their” athletes
  • And finally applied the average daily spend per person visiting the island.

The answer came out at just shy of half a million Euros

And that, of course, is an extremely conservative estimate which doesn’t take into account the following

  • Triathletes tend to be high earners and therefore high spenders
  • Most triathletes visit the island at least once during the year and sometimes several times to train for the event in our conditions

But even the headline figure is interesting – in the space of the next few days visiting athletes will be spending half a million Euros in the island’s shops, bars, restaurants and businesses.

Are we doing enough to welcome them?

With huge thanks to Adam – you can find out more about him at Adamsimmons.co.uk and via his work with Lanzarote Business Club