Weekend pumps about $25m into the area


A study into the economic benefits of Napier's Art Deco weekend has revealed the annual "what ho!" festival is now worth about $25 million to the local economy.
The study was done by Napier economist Sean Bevin is association with economic specialist Warren Hughes of Waikato University, and was all good news for the tourism, retail and hospitality industry.
The figures took into account "multiplier" effects of money being spent by people visiting the event being re-spent and staying within the region.
That overall figure was around $23 million - although as Mr Bevin pointed out, the report was collated for the period 2004 and 2005 and since then the event had continued to grow.
That meant the last two Art Deco weekends had probably exceeded that figure, and the 2008 weekend would be another financial windfall.
The Art Deco Trust-commissioned report also noted the benefits to the region in terms of global publicity it received because of Art Deco.
That reputation as a "place to see" had led to the cruise ship trade.
About 7200 visitors flock to the Art Deco weekends.

- HAWKES BAY TODAY

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