Substantial Economic Impact Generated From SportAccord Convention 2013

September 23, 2013

SportAccord Convention announced today that the 2013 edition of the event delivered economic impact equivalent to US$7.69 million for the host city of Saint Petersburg, Russia, according to research conducted by PwC, the global network of professional services firms.

PwC, a Gold Partner of SportAccord Convention, estimates the direct economic impact of SportAccord Convention 2013 at US$4.23 million in spending of non-resident participants in the event, which attracted 2,350 participants from 58 countries. Indirect economic impact, as the initial spending triggers a ripple effect through the local economy, is estimated at US$3.46 million. These figures exceed PwC’s pre-event estimates by 12% and 13%, respectively.

Several organisations have already expressed an interest in holding their next event in Saint Petersburg as a result of the city’s demonstrated ability to organise an event of the size and importance of SportAccord Convention, PwC said. Hosting the SportAccord Convention has also promoted the city as a business and cultural destination. According to the PwC survey, 48 percent of participants plan to visit Saint Petersburg again, and 79 percent said they would definitely recommend visiting there.

“Our partnership with SportAccord Convention in Saint Petersburg was extremely successful,” said Robert Gruman,PwC Russia Advisory Leader, who heads PwC’s Global Sports Mega-Events Centre of Excellence. “While making our own contribution to the event with the Economic Impact Study, we were especially gratified by the networking opportunities, the ability to build relationships with federations and the global sports movement.”

According to PwC’s survey, SportAccord Convention participants obtained on average 13 new useful business contacts through attending the event, confirming the Convention’s value as a networking occasion.

The Saint Petersburg 2013 study was conducted by PwC’s Sports Mega-Events Centre of Excellence, comprising a network of professionals experienced in bringing value at all phases of the sports mega-events lifecycle. In partnership with the Organising Committee of the Sochi 2014 Olympic and Paralympic Winter Games, PwC’s experts are carrying out over 200 projects in several key areas, from strategic and operational planning to supply chain management, from HR consulting to risk management.

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