BUSINESS leaders have endorsed Portsmouth’s fresh strategy to attract more premier events to the south coast.
Hampshire Chamber of Commerce believes traders, hotels, taxis and restaurants will all benefit from the efforts.
Maureen Frost, Hampshire Chamber’s deputy chief executive, said: ‘As well as the social benefits of bringing people together and creating a buzz, staging major events can generate a host of economic spin-offs.
‘Retailers, hoteliers, taxi drivers, restaurants, pubs and supply chain services will typically see enhanced trade. Portsmouth already has much to shout about, with the potential to achieve even more.
‘A carefully considered and well-planned events strategy will help local businesses to create jobs and secure lasting economic growth.’
Leslie Greenhalgh, event director for the Portsmouth America’s Cup World Series, which this year brought £6.6m worth of benefits to the economy, said: ‘Having hosted the Louis Vuitton America’s Cup World Series in the city in 2015 and again in 2016, we were able to deliver a combined economic impact of £15.6m and media value worth £38.7m together with employment and volunteer opportunities.
‘We have spent a significant amount of time and effort to monitor and measure the impact of our events and have listened to both public, local community and business feedback to ensure we are working to deliver the right experiences and impact to our key audiences.
‘Finally, we hope to be able to continue to bring world-class sporting events to the city of Portsmouth and will work closely with the council to achieve our collective objectives.’