A full economic impact report has found that Taranaki’s two sold-out Fleetwood
Mac concerts in December returned a net total of $9.56 million to the region’s
economy, from a total expenditure of $23.08 million, and significantly shifted
perceptions of the region.

The report, commissioned by Venture Taranaki and using sales data, attendee
surveys and economic impact analysis models, measured the difference between
having and not having the concerts.

The report found that the two concerts attracted a total audience of 35,045. Of
these, 25,622 (75.3 per cent) were visitors to the region, 26 per cent of whom
were visiting Taranaki for the first time.

“The full economic impact of the Fleetwood Mac concerts supports the anecdotal
evidence that it was an extremely successful weekend for the Taranaki region,”
says Venture Taranaki chief executive Stuart Trundle.

“While the measurable economic benefits were certainly a boost for the region,
the many non-financial benefits offer greater long-term potential.”

“Attracting new visitors to the region and delivering a fantastic experience
resulting in significantly more positive perceptions of Taranaki will deliver further
benefits down the line, as the region looks to meet future growth needs.”

The report found that each visitor to the region spent, on average, $410.88, and
that this was spread across the regional economy. Accommodation received 28
percent of the total spend, hospitality 27 per cent, retail 20 per cent, transport
and parking 11 percent and other sectors 14 per cent.

“There is a perception that any economic gain from major events is only within
the accommodation sector. This report finds that a much broader range of
Taranaki businesses benefitted from Fleetwood Mac.

“Most importantly the region has received fantastic feedback from Fleetwood
Mac, the thousands of visitors, local businesses and residents. The
unprecedented influx of visitors did challenge a significant number of our region’s
businesses, but they rose to that challenge, delivered customer service like no
other, and did Taranaki proud.”

“In this financial year the Major Events Fund is being used to support the
Taranaki International Arts Festival, Taranaki Rhododendron and Garden
Festival, the two Fleetwood Mac concerts, Yarrows Round the Mountain Cycle
Challenge, Americarna, Cliff Richard and the Shadows, WOMAD, and the All
Blacks vs Ireland test match.”

“While economic impact reports have not been undertaken for each event, a
conservative estimate shows that over $30million in economic benefit has been
returned to the region from the Trust’s investment of $850,000.”