Te Kaha Economic Impact

Published: Thu 8 Feb 2024 01:54 PM
Venues Ōtautahi has estimated the economic impact of Te Kaha Stadium to be around $50 million per year for the Canterbury region.
Chief Executive, Caroline Harvie-Teare, says this is a relatively conservative estimate, based on the events the new venue will attract.
"We have estimated the new venue will attract over 200 events per year, including multiple sporting events, major entertainment events and concerts and around 180 business events per year, and will welcome over 500,000 guests. Based on what we know about the economic impact from similar events over the last few years, we believe these events will attract approximately 100,000 visitors to our city, whose total spend on things such as accommodation, hospitality, and activities while they are here will bring around $28 million into the local economy each year.
“When you add in other economic impacts such as Venues Ōtautahi local employment, local procurement of food and beverage and engagement of local contractors and suppliers, overall, Te Kaha will be responsible for around $50 million of direct contribution to the region's local economy once the venue is open in 2026. When you incorporate the full suite of Venues Ōtautahi venues, from this point on we estimate the overall impact to be around $100 million.”
Business owners and employees across the region will also benefit from the stadium both directly, as suppliers and in supporting the operation of the venue, and indirectly, through tourism and increased activity around stadium events.
Hospitality NZ Canterbury Branch President, Peter Morrison, says the impact on Canterbury hospitality businesses cannot be underestimated.
"The last 12 years have been incredibly tough for hospitality in this region. Between the earthquakes, Covid and challenging economic conditions, it has been challenging for businesses to keep their heads above water. Te Kaha is exactly the injection of life we need. Te Kaha will attract the kind of large events we have been missing out on in Canterbury for the last decade, and this will have a significant flow-on effect for local businesses, including in hospitality," Morrison said.
Manager of the Central City Business Association, Paul Lonsdale, says Te Kaha will stimulate economic growth in a huge range of industries including retail, tourism, real estate, manufacturing, and agriculture.
"The direct and indirect economic impacts of the Stadium are so important for this region. There are hundreds of local businesses – if not more – who will benefit from the construction or operation of this venue in some way. However, this has never been about just economics, this is about making Christchurch the vibrant and lively city we all want it to be and about making this region the best place to live, visit or do business in."
Harvie-Teare says Venues Ōtautahi's economic benefit estimates do not take into account the full economic picture, such as the international profile Canterbury will gain.
"There are some very clear and direct economic benefits including the jobs the stadium will generate, which we expect to include a pool of over 1,000 casual Venues Ōtautahi staff when the venue is operational. But we also know the flow on effects for the Canterbury economy are going to be significant because of the way Te Kaha will showcase our region. We will be able to attract international events of a scale Canterbury has not seen with any regularity since before the earthquakes of 2011, delivering a huge boom for tourism.
"The most significant impact Te Kaha will have though, is on the quality of life for Cantabrians and the social fabric of the region. A world-class venue, attracting world-class events will help this region to prosper, thrive and give us even more reason to feel proud to call Canterbury, Waitaha home."

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