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Eden Park To Contribute $72M To Auckland’s Economy

Media release 
Monday 24 February

Eden Park To Contribute $72M To Auckland’s Economy

It hosted a crowd of nearly 100,000 for the inaugural NRL Nines last weekend, it’s New Zealand’s most iconic sports stadium and a hallowed ground for sports fans, and research shows it’s also a major contributor to the economic well-being of both the nation and its largest city.

In 2014, the Eden Park Trust forecasts activity at Eden Park will contribute around $90 million in gross domestic product (GDP) to the New Zealand economy. $72m of that will be retained in the Queen City.

These figures are contained in a study by research company Fresh Info Co that looked in to the contribution Eden Park makes to the Auckland and New Zealand economies. The study follows the release of The Eden Park Trust’s annual report which shows 2013 was a year of good progress for the 50,000-seat stadium.

The Trust increased its net profit before depreciation by 172 per cent to $1.2 million, while repaying $2.6 million of its commercial loans. It also re-documented the one remaining bank facility not guaranteed by Auckland City.

The Eden Park Trust CEO David Kennedy says forecasts for 2014 are encouraging.

“Fixtures in the Park have increased by 26% since 2010 and the calibre of sport and entertainment content at the ground continues to be superb.

“In terms of a direct revenue contribution to the city, the report predicts we will generate more than $74 million for Auckland this year which equates to around $72 million in GDP. Nationally, the figures are $86 million and $90 million respectively,” Kennedy says.

Eden Park’s expected contribution to national GDP represents an increase of around 110 per cent on the actual figure for 2010 and 21 per cent on the estimate for 2012.

The ground is forecast to host 29 fixtures in 2014 up from 24 last year and 19 in 2010. Nearly 600,000 spectators are expected to pass through its turnstiles this year.

Rugby continues to be the dominant event hirer. During 2013 Eden Park hosted The All Blacks, The Blues and Auckland Rugby for 14 matches in total. The annual secondary schools and club rugby finals were also held at Eden Park. The Wellington-based Phoenix Football Club played its second game there in February 2013 and its third earlier this month.

Outside the sporting arena, Eden Park hosted more than 1,000 functions ranging from three-day business conferences to school balls and weddings.

EPT_Annual_Accounts_2013_Final.pdf

Ends

© Scoop Media

 
 
 
 
 
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