Monsoon Cup Audit Shows Outstanding Return on Investment
Kuala Lumpur, Malaysia - The Monsoon Cup, the final event on the ISAF World Match Racing Tour (WMRT), has released positive figures for the Return on Investment (ROI) that the 2009 edition produced. Monsoon Cup is one of the most significant events on the Tour as it hosts the finale of the World Series where the ISAF Match Racing World Champion is crowned.
Three extensive, independent audits were carried out by Brand Advantage, Boulder Creek International and MSC Technology Centre to evaluate the benefits this unique match racing competition, awarded with ‘special event status’ by the International Sailing Federation, has brought to Malaysia. The Monsoon Cup is the ideal sporting platform to introduce the World to Terengganu, Malaysia and has boosted revenue in the local economy.
Analysis of the results concluded that Stage 10 of the 2009 World Match Racing Tour delivered an overall KPI achievement of 97.5% and the Event Media and Brand Value to Malaysia was valued at RM 538,833,381 (USD 164,806,049). This produces an incredible 26 point multiple on the overall Return on Investment.
This figure incorporates a print media value of RM 24,367,767 (USD 7,453,056) and an international broadcast media value of a staggering RM 270,658, 458 (USD 82,782,828) as well as an estimated visitor expenditure of RM 7,083,992 (USD 2,166,689). The audit results also include a range of tangible and intangible benefits measured by an exclusive proprietary economic model specifically designed to value an event’s rights and benefits.
Dato’ Ahmad Shabery Cheek, Youth and Sports Minister to Malaysia, is delighted with the KPI as his ministry has been involved in the success of the WMRT event, working hand-in-hand with the local event organiser. “I would like to thank the Monsoon Cup organization Team for a job well done”, he went on to build momentum for the upcoming 2010 event which will run 30 November – 5 December saying, “Hopefully the KPI achievements will be even better for this year”. The minister highlighted the global penetration of the World Match Racing Tour with television broadcasting now reaching 183 countries, up from 45 in the first year, and now achieves a total of 1.63 billion potential households.
The former Prime Minster of Malaysia, Tun Abdullah Ahmad Badawi, who was a key figure in promoting the Monsoon Cup, commented on the importance of this event in bringing Malaysia to the World, “The success of the Monsoon Cup has benefited Malaysia as more people now know the beauty of this region and the hospitality we offer”.
The America’s Cup style event has also attracted an unprecedented number of spectators to attend a sailing competition; in 2009 100,000 fans flocked to watch the World’s best match racers in action. This figure has doubled since 2008.
Chairman of the Monsoon Cup, Tan Sri Sabbaruddin Chik, is also proud of the recognition the event has received through awards, “The 2009 Monsoon Cup earned 3 international awards from the WMRT for; Best Overall Event, Best Spectator Experience and Best Innovation.
The ISAF World Match Racing Tour is now looking ahead to the 2010 Monsoon Cup, 30 November – 5 December.