Annual events worth $43m

Two of Christchurch's largest annual events attract more than 70,000 visitors who inject more than $43 million into the city's economy, council-commissioned studies show.

November's New Zealand Cup and Show Week provided an estimated $23.81m dividend while the first Ellerslie International Flower Show last year saw residents and visitors spend about $19.6m.

The most recent study of the World Buskers Festival, dating back to 2006, estimated audiences spent $3.1m with 93 per cent of that money coming from visitors.

The reports, by Melbourne-based IER Consultants, were prepared for the Christchurch City Council.

Council marketing manager Richard Stokes said they would help attract sponsorship and showed the "added value" of staging the events.

Surveys at Cup and Show Week revealed more than 40,000 people travelled from outside Christchurch to attend. Nearly 32,000 people travelled to attend the Ellerslie show.

The council paid $3m to bring the flower show south.

The economic assessment said Ellerslie visitors spent more than $5m in retail and accommodation sectors. Another $3m was spent on food and beverages while $1.3m went on entertainment. Ticket sales of $1.5m were also reported.

Christchurch Central City Business Association manager Paul Lonsdale said the events helped highlight the city.

Tourists spend an estimated $2.4 billion annually in and around Christchurch.

- © Fairfax NZ News