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

Abstract

This study contributes to the extant literature on the leveraging of event portfolios, by applying the Model of Event Portfolio Tourism Leverage (Ziakas, 2023) to a case study of the Volvo Ocean Race in Cardiff, United Kingdom. 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 analysed 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.