WHITEHORSE – The Yukon government Department of Economic Development recently completed an economic impact analysis of the Yukon River Quest (YRQ). The study examined the amount of money participants spend in Yukon and how this affects Yukon’s economy. In 2008 racers will compete in the tenth annual YRQ.
"This government is committed to promoting a strong and diversified private sector economy," Jim Kenyon, Economic Development minister, said. "This analysis provides the government with useful information about the economic benefits of these types of events."
The analysis found that the 2006 YRQ event led to an estimated $214,000 increase in spending and an estimated $107,000 increase in Yukon’s gross domestic product.
"The race has been steadily growing in size," Jeff Brady, Yukon River Marathon Paddling Association president, said. "We were curious to see what sort of impact the race had on Yukon’s economy."
The YRQ registered 76 paddling teams for their 2006 race. Of those participants, 61 teams completed a survey conducted by the race organizers.
The survey revealed that, on average, participants stayed in Yukon for 11 nights, including the time spent on the river. It also found that while 22 percent of respondents learned about the race through a friend or relative, another 20 per cent discovered the race on their own, through the YRQ website.
The survey was supported by the Business and Economic Research Branch of the Department of Economic Development. This branch provides economic and business research, analysis, forecasts and reports to support a broad understanding of the economy. It also provides assessments of economic impacts on the Yukon’s fiscal position, budgetary projections and financial decision making.
Registration for next year’s YRQ opened on October 15 and saw over 30 racers register within the first week. For more information on the event please visit www.yukonriverquest.com. The full economic impact analysis is available at www.economicdevelopment.gov.yk.ca.
|Jeff Brady, President|
Yukon River Marathon Paddling Association