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Applying the Model of Event Portfolio Tourism Leverage: A Study of the Volvo Ocean Race in Cardiff, UK

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This study contributes to the extant literature on the leveraging of event portfolios, by applying the Model of Event Portfolio Tourism Leverage to a case study of the Volvo Ocean Race in Cardiff, UK. Through an examination of the various components of the model, the research demonstrates the value of the strategies and tactics it proposes, including the amplification of visitor numbers, diversification of tourism offerings, extension of the tourism season, fostering of event tourism networks, consolidation of destination assets, and bolstering of destination authenticity. Empirical data collected from three separate surveys, strategy documents, and feedback from stakeholders are analyzed to support this argument. The study also acknowledges some challenges to strategic portfolio management, particularly due to the fragmented nature of events suppliers in destinations and the difficulty in assessing the impact of leveraging actions, in the absence of benchmark data related to event visitors.

Keywords: DESTINATION ASSETS; DESTINATION AUTHENTICITY; EVENT IMPACTS; EVENT LEVERAGING; EVENT PORTFOLIOS; EVENT TOURISM; SAILING

Document Type: Research Article

Affiliations: Welsh Centre for Tourism Research, Cardiff Metropolitan University, Cardiff, Wales

Publication date: October 27, 2023

This article was made available online on July 20, 2023 as a Fast Track article with title: "Applying The Model of Event Portfolio Tourism Leverage: A Study of The Volvo Ocean Race in Cardiff, UK ".

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  • Event Management, an International Journal, intends to meet the research and analytic needs of a rapidly growing profession focused on events. This field has developed in size and impact globally to become a major business with numerous dedicated facilities, and a large-scale generator of tourism. The field encompasses meetings, conventions, festivals, expositions, sport and other special events. Event management is also of considerable importance to government agencies and not-for-profit organizations in a pursuit of a variety of goals, including fund-raising, the fostering of causes, and community development.
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