What is Rally Australia worth?
THE report card on the economic impact of September's local round of the World Rally Championships is in.
A survey of Coffs Coast businesses has revealed that a net profit of $62,720 was made when the international rally roadshow rolled into the city.
The report prepared by Southern Cross University postdoctoral research fellow Arianne Reis revealed that the big winners from the large international event were accommodation providers who reported an increase of 20% in occupancy rates compared to the same time in the previous year.
While there were some big winners from the event, some businesses reported that they were not as fortunate.
"There was a degree of disappointment directed towards the organisers of the rally as many of the businesses did not think the amount of people expected to come eventuated," Ms Reis said.
A noteworthy proportion of businesses reported losses due to the event. In one instance the shortfall was in the order of $25,000.
Participating businesses in the survey were based mainly in the CBD, Park Beach and the Jetty area and most had been in operation for more than 10 years.
Aside from direct trade, the local economy received an extra boost via employees being given extra hours of work during the event.
The businesses that changed their business hours added more than 480 hours to normal operations, 2692 staff work hours and employed an extra 211 casual staff during the event.
The vast majority of respondents indicated that they want the event to come back to the region, while 92% said that they would like to see other major events coming to the Coffs Coast in the future.
"In general the event was considered positive by the business community, particularly if the event returns and some mistakes are avoided."