"Hosting these events brings visitors who support our hotels, shops and restaurants, they provide work and money for our local businesses."
Tauranga won hosting rights for the World Junior Squash Championships after more than a year preparing a bid.
It will be the first time the event has been held in the Bay of Plenty.
Organising committee chair Wayne Werder said the local squash community had pulled together with Squash New Zealand to plan the event.
"Tauranga is willing, able and excited by the opportunity to host this event," he said.
The tournament is expected to generate about $5m in spending.
Tauranga City Council invested $60,000 in the event from its major events fund, and the Government contributed $110,000.
The Devoy Squash and Fitness Club, Te Puke Squash Club and Mount Maunganui Squash Club will share hosting of the event.
The Paradox Street Art Festival is due to close next week after opening at the end of March.
Nearly 45,000 people had visited the gallery in that time, and gallery director Karl Chitham said it was not just locals attending the festival.
"People have travelled from all over the country and further afield to see the exhibition.
"This show and the whole of Paradox has given an incredible boost to the energy in the CBD, which is great to see."
Tauranga is also set to host the AIMS Games in September, an international sporting competition for 11- to 13-year-olds.
The AIMS Games began as a small local tournament for the Bay of Plenty, but is now an international tournament with teams attending from Tonga and the Cook Islands.
Last year's AIMS Games brought more than $3m to Tauranga's economy and nearly 12,000 visitors into the city, council data revealed.
Other upcoming events include the Tauranga International Marathon and the Tauranga Arts Festival.
Paradox, the AIMS Games, the Tauranga Marathon and another six events for the 2017/18 year had received council event funding.
Priority One projects manager Annie Hill said there were definitely opportunities for Tauranga to develop more events, particularly in the off-peak seasons.
''In terms of major events, it is important that they are reflective of Tauranga instead of trying to replicate what other cities are doing.
''I think one of our missed opportunities is to showcase unique aspects and cultural experiences of the city with iconic events which are delivered through public, private and community partnerships.''
One of the main challenges was the lack of an international hotel with attached conference facilities, she said.
''This is the key to being nationally and internationally competitive, particularly in the conference market, meaning everything can be held under one roof.''
Tourists spent about $1.8b in the Bay of Plenty over the last year - an increase of six per cent from the year before.
Domestic travellers spent about $1.2b of that, the Ministry of Business, Innovation and Employment estimated.
- Additional reporting Carmen Hall
Tauranga City Council Major Events Fund
In the 2015/16, financial year $500,000 was allocated to support major events in Tauranga.
In 2016/17 it was $525,000.
The council has agreed to a total Major Events Fund investment of $7.7m over 10 years as part of the 2015-25 Long Term Plan.
- Tauranga City Council
