The Copa del Rey is the most important sports event staged in the Balearics.

22-02-2019T. Llabres

According to a study by the University of the Balearic Islands on behalf of the Real Club Náutico de Palma, the Copa del Rey regatta in 2018 had an economic impact of 17.5 million euros.

Over the eight days of the competition in August, there were 1,840 participants, one of whom was King Felipe. Twenty-nine countries were represented by 155 yachts. The participation was the highest ever.

The report's authors say that the Copa del Rey is the most important sports event staged in the Balearics. This is because of the economic impact and also because of its "sporting, social and tourism connotations".

The president of the yacht club, Javier Sanz, told a press conference that the event brings in 2.2 million euros per day. Maria Antonia García of the university's business economics department said that it is an international event which projects an image of a sporting destination to overseas tourism markets. This image, she added, is in line with new tourism demands.

Breaking the economic benefit down, there was spending of 6.42 million euros related to owners of the 155 boats and 4.38 million by the 1,840 participants. Other spending included 2.92 million by people who were invited or accompanied participants and 1.43 million euros of sponsorship. The sector which benefited the most, with 4.62 million euros, was hotels.

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