Borders events yield two-year £27m economic benefit – report

The figure was revealed in a new report presented to the Executive Committee on Tuesday (September 10).

In 2022 the tourism and event industry supported 6,848 in employment and contributed £378m – directly and indirectly – to the local economy, according to data.

Events cited in the report for 2022/23 include the Melrose Sevens, with the sporting event going on to benefit the local economy to the tune of around £1.89m.

Similarly, in the same year, the Jim Clark Rally boosted the economy by almost £3m.

A report to the committee, approved by Jenni Craig, the council’s director of resilient communities, states: “This report reflects the impact of events in the Scottish Borders since the refreshed strategic events plan was created in 2022.

“There is also consideration to be given to this being a period of recovery for the event sector following the Covid-19 pandemic. It has taken time for the event sector to fully recover and for event organisers to regain confidence in delivering their events.

“Scottish Borders Council economic development officers have worked with an independent organisation, James Law Associates, to evaluate the impact of events and carry out a review of the strategy and benefits to date.

“The region already hosts significant events, a key example being in the Tweed Valley which was one of the venues for the cross-country cycling and marathon events delivered as part of the UCI Cycling World Championships in 2023.

“It is estimated that this single event delivered approximately £6m to the Scottish Borders. Another key event has been the Tour of Britain which has taken place in a number of locations throughout the Scottish Borders on numerous occasions.

“In 2022 the estimated economic impact of the Tour of Britain was in excess of £3m and these examples help confirm that events are a significant contributor to the local economy.”