Report: Fieldays now worth half a billion dollars to NZ
11 October 2017
Fieldays has grown into an event of national significance, according to a new economic impact report prepared by Waikato Management School's Institute for Business Research (IBR).
The four-day event in June broke the half-a-billion-dollar mark in revenue for the first time in Fieldays' 49-year history. The Mystery Creek event generated $538 million in sales from New Zealand firms, including $191m in revenue from Waikato.
The report shows that for every dollar spent during the event, another $1.37 of sales revenue is generated somewhere else in the national economy.
Overall, Fieldays contributed $238m to the country's gross domestic product, including $79m for Waikato.
One of the report's co-authors, Professor Frank Scrimgeour, said the report gives a conservative estimate of the event's full economic impact.
Attendance numbers had steadily lifted since the Global Financial Crisis to reach a record this year, he said. "It's not surprising with the upward growth that the economic impact is past the half a billion dollar figure for the first time."
The 1049 exhibitors from outside the region compared with 389 that were Waikato-based, which showed the event had a national impact, he said.
Professor Scrimgeour said while people should be delighted about the Fieldays achievements, the same level of growth could not be expected every year, he said.
'The future of farming' will be the theme for next year's Fieldays, celebrating its 50th year.
This story is based on an original article published in the Waikato Times.
BY THE NUMBERS
- This year's Fieldays broke all previous records for attendance with 133,588 people through the gate, 1.5% more than the previous record of 131,629 set in 2008.
- International visitors from 40 countries attended the event.
- About 48% of all Fieldays visitors came from Waikato, 16% from the lower North Island, 15% from the Bay of Plenty, and 10% from Auckland.
- The event created 2,300 jobs (full-time equivalent), up from 2021 last year. Of those, 900 were in the Waikato, a 27% increase on the previous year.
- Out of $538 million total sales, $450m came from sales in farm equipment which included $113m from Waikato-based firms and $336m from the rest of New Zealand.
- Fieldays' brand value increased from $380m to $465m, signalling the event was increasing in value for manufacturers selling to primary producers.