In December 2024, the VinFast IRONMAN 70.3 World Championship was hosted in Taupō, bringing significant international attention and positive media coverage to our district. To better understand the event's impact, we conducted a survey to gather insights from businesses across the Taupō District. This feedback is essential in identifying how local businesses benefited and where challenges arose, helping us refine strategies to maximise opportunities for future events. By contributing to this survey, businesses have played a vital role in shaping initiatives that foster economic growth and reinforce Taupō’s position as a premier destination for global events.
In addition to the business survey, Marketview analytics provide detailed insights into cardholder spending at merchants in the Taupō District, revealing key economic visitor and local spending activity during the event period. The data is benchmarked against the same period 2023, providing year-on-year (YOY) trends, comparisons and insights that further highlight the economic significance of the VinFast IRONMAN 70.3 World Championship.
The survey gathered insights from various businesses, providing feedback on the impact of the IRONMAN 70.3 World Championship. The survey respondents represented diverse industries, including retail, accommodation, dining, tourism, professional services, and other sectors. Employee numbers ranged from sole traders to businesses with 11+ employees.
Impact Analysis
Community and District Impact:
Positive to Outstanding 77.6%: The majority of respondents rated the event’s impact on the Taupō District and its community as positive (36.3%) or outstanding (41.3%).
Neutral to Negative 22.5%: Some businesses reported neutral (10.0%), negative (10.0%), or extremely bad impacts (2.5%).
Business Impact: The impact on individual businesses showed a broader range of experiences:
Positive to Outstanding 44.4%: Many businesses benefited from increased foot traffic and sales.
This aligns with Marketview data showing a 72.2% YOY increase in international cardholder counts and 116.2% YOY rise in transactions year-on-year over the two-week event period, highlighting the global reach and economic boost generated by the event.
Neutral Impact 21.0%: A portion of businesses observed little to no change in trade.
Negative to Extremely Bad 34.6%: Some businesses, particularly outside tourism and hospitality, reported reduced local clientele or logistical challenges.
Marketview data showed a decrease in Taupo Locals spending activity over the two-week period pre and post event, but this was balanced out across the month of December with Taupo Locals cardholder counts increasing 3.17% YOY indicating spending patterns shifted rather than a total reduction in economic activity.
Financial Turnover: Business responses compared to the same period in 2023 were mixed:
Positive Increase: A combined total of 35.7% of businesses saw a positive increase in turnover
11.9% of businesses saw a 10% increase in turnover
23.8% of businesses saw a 20% or more increase in turnover
This business feedback is supported by Marketview insights showing a 84.3% YOY increase in international spending over the two-week period.
Stable Turnover: A combined total of 26.2% of businesses saw no change in turnover or felt that this was not applicable for their business.
Decrease in Turnover: A combined total of 38.1% of businesses saw a decrease in turnover
6.0% of businesses saw a 10% decrease in turnover
32.1% of businesses saw a 20% or more decrease in turnover
Marketview data reflects a decline in domestic visitor spending during the two-week event period, although this economic activity was offset by a significant lift in domestic visitor cardholder counts and transactions during the three-week period following (across Christmas & New Years).
Feedback on Event Successes
Community Engagement and Atmosphere: A recurring theme from the feedback was the sense of pride and vibrancy the IRONMAN 70.3 World Championship brought to Taupō. Businesses noted the influx of international visitors as a particular highlight, which contributed to a lively and welcoming atmosphere. Positive feedback from participants and spectators enhanced Taupō’s reputation as a world-class events destination, instilling a sense of pride in the local community.
Economic Benefits for Specific Sectors: Accommodation providers and restaurants reported strong bookings and increased patronage, with many businesses enjoying higher than usual customer volumes. Bars and other evening-oriented establishments observed a noticeable spike in traffic, while retailers offering event-related products experienced significant sales growth. This positive economic impact was particularly felt in sectors closely tied to visitor needs and event activities.
Media and Promotional Exposure: The event’s extensive international media coverage positioned Taupō as a premier tourism and event hub. Businesses benefited from the heightened visibility, which attracted visitors not only during the event but also boosted the district’s appeal for future tourism. Social media mentions from participants and sponsors extended the reach of the event, showcasing Taupō to a global audience and enhancing its reputation as a top-tier destination.
Areas for Improvement
Displacement of Regular Business: Local businesses highlighted challenges with displaced regular clientele, particularly as the event coincided with the busy holiday season. The event drew significant attention and visitors, but it also deterred some locals and regular customers who avoided the town centre due to anticipated crowds and limited parking availability. This underscores the importance of effective engagement and revenue strategies to help businesses adapt and capitalise on shifting customer demographics during peak periods.
Logistics and Accessibility: Road closures and limited access created challenges for both business operations and local customers. Some businesses faced disruptions as customers struggled to navigate detours or find alternative routes. Suggestions from respondents included refining road closure schedules to minimise disruption and improving public transportation options to facilitate easier access for residents and visitors.
Engagement with Local Businesses: Several businesses felt insufficiently integrated into the event’s planning and promotion. They expressed a need for greater collaboration with organisers to ensure local shops and services could benefit from the influx of visitors. Ideas included targeted marketing campaigns to drive visitor spending in local businesses and closer partnerships with event organisers to boost visibility and integration.
Improved Communication: Respondents emphasised the importance of earlier and more detailed communication regarding event schedules, road closures, and visitor expectations. Clearer, proactive information would enable businesses to better prepare and adapt their operations to align with event logistics. Additionally, workshops or resources aimed at maximising business opportunities during major events were suggested to enhance readiness and participation.
Conclusion
The IRONMAN 70.3 World Championship brought significant value to Taupō, elevating the district’s profile on the global stage and driving economic activity in key sectors. Marketview analytics highlighted a significant increase in international visitor spending (+40.19% YOY for December) and cardholder activity, reinforcing the event’s positive economic impact. However, the business survey also highlighted areas where adjustments can enhance outcomes for local businesses and the broader community. By addressing challenges such as logistics, communication, and local engagement, Taupō can continue to refine its approach to hosting world-class events. These insights can guide future initiatives, ensuring that events not only bring visitors but also leave a lasting positive impact on Taupō’s economy and community.
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