A preliminary report on the economic impact of Cork's period as European Capital of Culture in 2005 has found that the designation resulted in a 38 per cent rise in visitors to the city, spending an additional €90 million, according to the Cork City Manager.
Joe Gavin said the study commissioned by Cork City Council found that there were 4.234 million visitors to Cork in 2005 compared to 3.006 million visitors in 2003, representing an increase of 1.137 million or 38 per cent.
The study, which was carried out by Dr Richard Moloney of the department of economics at University College Cork, found that visitors in 2003 contributed €324 million to the local economy but by 2005, the spend increased by 28 per cent to €414 million.
Mr Gavin said the preliminary figures available from Dr Moloney's study also found that same- day visitors numbered 2.574 million in 2003, generating €128 million but this had increased in 2005 to 3.751 million, spending €158 million.
In comparison, the figures for national visitor numbers in 2005 were 7 per cent higher than in 2003 while revenue earnings rose nationally 7.5 per cent in 2005.
"The respective figures for Cork city and its hinterland at 38 per cent and 28 per cent greatly exceed the national figures and can for the most part be attributed to the successful promotion of Cork 2005," Mr Gavin told last night's meeting of Cork City Council. "It is clear from the returns that Cork 2005 was an outstanding economic success and greatly exceeded what we might reasonably have expected. Our total revenue investment in Cork 2005 was €17 million."
The extra €90 million was the immediate economic return but Cork 2005 had laid foundations for continuing benefits into the future and the city must build on these foundations, said Mr Gavin.
The full report is expected to be used by Cork 2005 and Cork City Council to rebut criticisms that Cork failed to fully exploit its European Capital of Culture designation because of underfunding.
The figures are also expected to be used to rebut criticism that many of the events were perceived as elitist and that Cork 2005 failed to capture the imagination of the local population.
It was expected that councillors would discuss the report but they last night agreed to defer a discussion for two weeks to allow them study a detailed report on the year, including a breakdown of funding and expenditure.
The report shows that Cork 2005 received revenues of €16.97 million, comprising €5.75 million from Cork City Council, €7.85 million from the Department of Arts, Sport and Tourism, €2.87 million in sponsorship and €500,000 from the European Commission.
Expenditure also totalled €16.97 million, including €6.916 million in grant aid and production support for the programme, €3.441 million for special events and production, €4.815 million for project management and support and €1.798 million on marketing and communications.
