ID :
135385
Fri, 07/30/2010 - 16:21
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Shortlink :
https://oananews.org//node/135385
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2010 MONSOON CUP TO GENERATE 30 PCT RETURNS ON INVESTMENT
PUTRAJAYA, July 30 (Bernama) -- The annual Monsoon Cup race held in
Terengganu, the second largest international sports event in Malaysia, is set to
chalk up a 30 per cent increase on its returns on investment for event, media and
brand value this year compared with RM539 million achieved last year.
Its Race Advisor and three-time Match Race Sailing world champion, Peter
Gilmour, said the cost of staging the Monsoon Cup was about RM30 million, of 60
per cent was borne by the government and the private sector accounted for the
remainder.
He said the highly-exciting world event had generated returns 26 times the
investments last year, making the blue ribbon event for sailing clearly a
significant contributor to the nation's economy.
It has also generated spillover effects for Terengganu such as jobs during the
difficult Monsoon season.
"Basically, all the costs go into running and hosting the event and we get
tremendous knock-on benefits like additional advertising.
"Thirty per cent is an average target that had been set for on a
year-on-year basis. It has gone up year-on-year by over RM100 million," he told
Bernama in an interview recently.
Monsoon Cup 2009 attracted 101,794 spectators, created 1,722 jobs and generated
a print media value that was worth RM24 million.
"There's a lot of economic spillover locally. Airport passenger arrivals
increased from 300,000 a year to four million while a sports stadium and two
brand new hotels were built in the state.
"All these happened during the Monsoon Cup season.
"And, of course it isn't unambitious of us to seek to improve by that sort of
amount, however it also depends on circumstances," Gilmour said of the event
incepted in Malaysia in 2005 and which has become part of the world racing
calendar of the International Sailing Federation (ISAF).
It is also one of the most significant events of ISAF's World Match Racing Tour
and is regarded the Formula One in sailing which has firmly put Terengganu on
the world map of major sporting events.
The Monsoon Cup, a project of the Malaysian Ministry of Youth and Sports since
last year, is a yacht race hosted by the State of Terengganu.
Gilmour said the event was definitely an economic catalyst for local tourism and
sports, especially for Terengganu where the hosting of the Monsoon season was
now viewed as an opportunity and no longer a threat, thanks to the race which
has attracted enthusiasts from all over the world and the economic returns that
it generated.
Malaysia has a eight-year contract to host the Monsoon Cup, organised by T-Best
Events Sdn Bhd, the official event organiser for the competition.
For this year, he said the focus was to create greater economic impact.
"What we are doing now is targeting areas like attracting even more
spectators and generate a higher turnover locally. So, when that starts getting
measured into the local market, that is where we hope to lift the impact," he said.
Gilmour said the event was also a platform to develop local talent and expertise.
Last year, 23,359 minutes was broadcast via 24 broadcasters, reaching 2.1
billion households across 184 countries.
In 2008, 12,900 minutes was televised via 18 broadcasters, reaching 1.3 billion
households in 137 countries.
This year's Monsoon Cup will be held between November 30 and Dec 5. (US$1=RM3.19)
-- BERNAMA
Terengganu, the second largest international sports event in Malaysia, is set to
chalk up a 30 per cent increase on its returns on investment for event, media and
brand value this year compared with RM539 million achieved last year.
Its Race Advisor and three-time Match Race Sailing world champion, Peter
Gilmour, said the cost of staging the Monsoon Cup was about RM30 million, of 60
per cent was borne by the government and the private sector accounted for the
remainder.
He said the highly-exciting world event had generated returns 26 times the
investments last year, making the blue ribbon event for sailing clearly a
significant contributor to the nation's economy.
It has also generated spillover effects for Terengganu such as jobs during the
difficult Monsoon season.
"Basically, all the costs go into running and hosting the event and we get
tremendous knock-on benefits like additional advertising.
"Thirty per cent is an average target that had been set for on a
year-on-year basis. It has gone up year-on-year by over RM100 million," he told
Bernama in an interview recently.
Monsoon Cup 2009 attracted 101,794 spectators, created 1,722 jobs and generated
a print media value that was worth RM24 million.
"There's a lot of economic spillover locally. Airport passenger arrivals
increased from 300,000 a year to four million while a sports stadium and two
brand new hotels were built in the state.
"All these happened during the Monsoon Cup season.
"And, of course it isn't unambitious of us to seek to improve by that sort of
amount, however it also depends on circumstances," Gilmour said of the event
incepted in Malaysia in 2005 and which has become part of the world racing
calendar of the International Sailing Federation (ISAF).
It is also one of the most significant events of ISAF's World Match Racing Tour
and is regarded the Formula One in sailing which has firmly put Terengganu on
the world map of major sporting events.
The Monsoon Cup, a project of the Malaysian Ministry of Youth and Sports since
last year, is a yacht race hosted by the State of Terengganu.
Gilmour said the event was definitely an economic catalyst for local tourism and
sports, especially for Terengganu where the hosting of the Monsoon season was
now viewed as an opportunity and no longer a threat, thanks to the race which
has attracted enthusiasts from all over the world and the economic returns that
it generated.
Malaysia has a eight-year contract to host the Monsoon Cup, organised by T-Best
Events Sdn Bhd, the official event organiser for the competition.
For this year, he said the focus was to create greater economic impact.
"What we are doing now is targeting areas like attracting even more
spectators and generate a higher turnover locally. So, when that starts getting
measured into the local market, that is where we hope to lift the impact," he said.
Gilmour said the event was also a platform to develop local talent and expertise.
Last year, 23,359 minutes was broadcast via 24 broadcasters, reaching 2.1
billion households across 184 countries.
In 2008, 12,900 minutes was televised via 18 broadcasters, reaching 1.3 billion
households in 137 countries.
This year's Monsoon Cup will be held between November 30 and Dec 5. (US$1=RM3.19)
-- BERNAMA
