Tall Ships Races, a growth accelerator

The organisation of events, whether cultural, sporting or recreational, can contribute to local economic development. Much research has been carried out in an effort to identify, characterise and measure the extent of the economic impact generated by these different events. The findings have highlighted the positive effect for the territories concerned. An event-based policy can offer port cities a means of generating public revenue streams locally and funding their development projects. It also serves to enhance their local and global image.