The Valencia Marathon 2024 brings in almost 40 million euros in tourist spending and contributes to the recovery after the flooding
The Valencia Marathon Trinidad Alfonso Zurich has long established itself as a key contributor to the Valencian economy. However, an economic impact study carried out by the Ivie (Valencian Institute of Economic Research) has further confirmed that the race held in December also contributed to the economic, tourism and social reactivation after the tragic flooding that struck the Valencian province weeks prior to the race, as it generated 39.9 million euros in tourist spending in the city and metropolitan area.
The Ivie report reflects the positive impact on the Valencian economy, tourism and revenue, in spite of the withdrawal of registered runners in the weeks leading up to the event, which reduced numbers from 35,000 to just over 32,000 participants. The expenditure associated with staging the Valencia Marathon includes both the money spent on organising the event, estimated at 6.8 million euros, and the tourist spending by the participants and their companions from outside Valencia, which amounts to 39.9 million euros. Despite the slight reduction of 1.4% in the number of runners compared to 2023, tourist spending increased by 23.2%. The greater number of foreign participants, who accounted for 63% of the total, compared to 57.1% the previous year, largely explains this increase, since participants from abroad stay longer in the city and their average daily expenditure is higher than that of national participants (194.7 euros compared to 161.1 euros). From these figures it can be seen that for every euro spent on organising the marathon, 5.9 euros are earned through tourist spending.
income (GDP) and employment in the region. Specifically, according to the report prepared by Ivie Research Deputy Director Joaquín Maudos and Research Technicians Eva Benages and Silvia Mollá, the 2024 Valencia Marathon contributed €23.9 million to the GDP (income) of the Comunitat Valenciana, 16.3% more in real terms than the previous year. Moreover, it allowed the creation of 732 full-time equivalent jobs over a one-year period, compared to the 600 jobs created the previous year.
In terms of wealth generation, the Valencian Marathon Trinidad Alfonso Zurich is an important driving force, since for every euro of initial expenditure invested in organising the event, 3.5 euros of income (GDP) are generated in the Valencian economy. This effect has been increasing over time, as the impact on income has multiplied by 11 in real terms since 2011, and by more than 14 in the case of employment.
When broken down by type of activity, in 2024, the service sector gained most from the economic impact of the marathon (87.6% in terms of income and 89.8% for employment), especially the hospitality industry (9.6 million euros in income and 354 jobs); followed by real estate and business services (4.6 million and 56 jobs) and trade (2 million and 99 jobs).
More than 13 million in taxes
In addition to generating income and employment, the race also has a fiscal impact through the collection of taxes linked to both the organisational costs and those stemming from the tourist spending by the participants and their companions. In total, the 2024 Valencia Marathon brought in 13.1 million euros to the public coffers, 19.2% more in real terms than the previous year. This figure means that for every euro spent on organising the event, 1.9 euros are generated in taxes collected.
According to Joaquín Maudos, the director of the study, “in 2024, the Valencia Marathon has taken a further step towards expanding its international profile, as 63% of the runners come from outside Spain. Therefore, despite the drop in the number of participants due to the floods, spending on sports tourism increased, which means that the contribution to GDP and employment in the Valencian economy in 2024 has been at its highest level ever”.
The quantification of the economic impact of the Valencia Marathon 2024 did not take into account the figure of more than one million euros that the race organisers, runners and sponsors jointly donated to reactivating sport through different charitable initiatives in the areas affected by the floods, as this is characterised as a different type of expenditure to that made by the participants (sports tourism) and the money spent on organising the race.
