Thomond proves a money-spinner

THE redevelopment of Thomond Park has generated a staggering €12m per match to the local economy, according to a new study commissioned by Munster Rugby.

A BDO Xavier Simpson economic report has revealed the financial contribution to Limerick city and the Mid West region has grown by over €6m for Heineken Cup fixtures as a result of the stadium capacity increasing from 12,500 to 26,000.

Pubs, restaurants, hotels and other local businesses are the main beneficiaries since the revamped stadium opened its doors last October.

In spite of the global recession, millions are still pouring into the region for both Magners League and Heineken Cup games while the recent Elton John concert proved a huge cash generator.

The report highlights that April’s Munster-Ospreys Heineken Cup quarter final generated €10.5m to the region. The direct expenditure from Irish and Welsh supporters was €4.2m

The report also commended the media across all its various formats, saying its massive exposure on a match is a major contributor to developing the image and profile of the city. Based on media coverage and tourism spend, the Ospreys game created a tourism value of €12m for the region. The media value of the four Heineken Cup games and All Blacks game hosted in Thomond Park was €58m.

Magners League games have also stimulated the local economy with full houses generating between €1.2m and €3.5m for the city.

It is estimated that the value of the two scheduled summer concerts hosted at Thomond Park will generate €9.9m each. A sample of 13 city hotels revealed 100% occupancy for the Elton John concert.

Millions are also expected to come pouring into the Mid West capital in August after the FAI decided to stage two Republic of Ireland friendlies at the home of Munster Rugby.

Munster Rugby ceo Garrett Fitzgerald said: “We are delighted that the investment made in the new Stadium is having such a positive economic impact for Limerick and the wider business community. We were always aware of the level of business activity in the city on the strength of Heineken Cup matches however these findings confirm the economic potential of stadium events for Limerick City and the Mid West region.”

The study also highlights the level of positive social impact such events have locally. The perception of Limerick among visiting supporters focused on the welcoming, friendly and sociable nature of the city.

The top three rated aspects of Limerick among the 445 visiting supporters surveyed were friendliness of local people, Limerick as a sports-orientated city and, thirdly, the great atmosphere.

Supporters were asked to rate the best aspect of their visit to Limerick. 22.9% referred to the atmosphere in the city on the match weekend. A further 20.6% highlighted the friendly and welcoming people of Limerick while 19.4% rated the social life in the city as the best part of their trip. 7.1% rated Thomond Park as their highlight with a further 5.9% praising the overall city of Limerick.