The 2023 Giro d’Italia generated a total revenue of €2 billion according to a recent research

The 2023 Giro d’Italia generated direct and indirect revenue of €2 billion according to research and a survey carried out by Banca Ifis, an Italian bank that specialises in helping small and medium sized Italian companies.  

The research presented at the recent Festival dello Sport organised by La Gazzetta dello Sport, revealed that €605 million of revenue was derived from the immediate impact produced by the spectators attending the Corsa rosa during the three weeks of the race. A further €15 million was spent by race organisers RCS Sport, sponsors and the teams during the three weeks of the race. 

Read also

Double the Velo d'Or jury members voted for Mathieu van der Poel over Jonas Vingegaard despite Dane taking the award

Banca Ifis suggests that the Giro d’Italia also generates deferred economic benefits of €1.4 billion, based on the calculation of tourism spending by those who return or travel to Italy within 18 months after seeing the Giro d’Italia. A further €15 million was generated by infrastructure investments to host the race.

"The research shows what we always said: the Giro d’Italia is an international event that is able to generate huge revenue wherever it goes," Urbano Cairo, the president of RCS Media Group, which owns the Giro d’Italia, said in an interview published alongside the Banca Ifis data.

Read also

"Johan Bruyneel and Lance Armstrong are not stupid, they know a little about cycling" - Cyrille Guimard agrees that Remco Evenepoel is unlikely to challenge for Tour de France victory in 2024

"If I were a child today, he would be my idol" - Tadej Pogacar opens up on his friendship with Mathieu van der Poel