Estimations put the economic benefits for the city in the region of €80-130 million, eclipsing the estimated €10 million it paid to host cycling's greatest show. The estimations come given that its impact cannot be measured just by the three days.
With multiple indicators such as hotels, restaurants, commercial and retail spend all initial indicators, an expert has highlighted that its impact can be measured better by a potential increase in tourism and the city's perception over the coming years.
Grand Depart is big money for Barcelona
“It’s not a small amount of money, but it could be one of the public investments with the highest return in recent years,” Francesc Rufas, a professor at EAE Business School,
told MARCA.Rufas declared: "The direct economic impact could be between 80 and 130 million euros." He added: "Between five and seven times the amount spent."
The biggest attraction is television, with billions viewing the city. Using the example of Bilbao's 2023 Grand Depart, Rufas thinks the city received a profit of at least eight times what they paid to host the event.
"It's airtime on televisions around the world showcasing the city's most recognizable landmarks. Buying that kind of exposure with a conventional advertising campaign would simply be impossible."
Local residents won't feel economic impact
However, much of the benefits won't impact local residents, who have to contend with inflated tourism numbers, road closures and no windfall.
"None of this will appear on the bill that residents of Sant Martí, Eixample, or Poble Sec will pay during those days."
He added: "These are real costs that fall on residents while the benefits are concentrated in hotels, restaurants, and municipal coffers."
Nonetheless, Rufas believes time will tell when it comes to the benefits. He said: “It’s not in what visitors spend during these three days. It’s in what the world remembers for the next three years."