The grand start of the 2023 Tour de France has generated an impact of 103.9 million euros in the Basque economy

The Grand Départ Pays Basque 2023 or the big start of the Tour de France 2023 has generated an impact of 103.9 million euros in the economy of the Basque Autonomous Community. The event had a final budget of 12.2 million euros, 200,000 euros more than initially planned. Therefore, every euro invested has meant a return of 8.5.

Representatives of the Basque government, the Bilbao City Council and the Provincial Council of Bizkaia presented this Monday at the Euskalduna Palace the Ikertalde report, which measures the impact of the start of the Tour de France in Bilbao last July.

According to this data, the event generated economic activity equal to 904 jobs annuallyin addition to generating more than 58 million GDP as a result of the activity carried out and almost 19.5 million raised in taxes.

The event required 113 service contracts, of which 104 were managed by Basque companies, 92%. On the other hand, the Grand Départ Pays Basque has generated almost 54 million euros indirect impact in the Basque economy. This figure includes the costs of overnight stays, purchases, transport or activities carried out by people attending the Tour and not related to its organization, in addition to the costs incurred by the local public themselves.

On the other hand, the Media impact of the Grand Départ Pays Basque, which includes written media, television, radio and digital media, has had an audience of 69 billion people. The study estimates the equivalent economic value generated by this audience at €115.2 million, or in other words: to achieve media presence, €115.2 million would need to be invested.