Numbers were up for this year’s Festival of Motoring.
The Steam Packet has already reported an 11 per cent increase in motorcycles travelling on the ferry for this year’s festival compared with the corresponding fortnight last year.
Passenger numbers were also up on 2013, by 1,100 to 29,460 – the highest number for this fortnight in more than a decade.
The total of 3,697 motorcycles by the Steam Packet carried represents the highest figure since 1993, when the Steam Packet began recording comparable data.
The Isle of Man Airport Authority has reported an increase of almost 12 per cent this year in the number of inbound and outbound passengers through Ronaldsway Airport during the festival fortnight, following on from a similar increase of over 11 per cent for the inaugural event in 2013.
The Festival of Motorcycling event consists of the Classic TT, the Manx Grand Prix Races, the Classic and Two Day Trials and the Vintage Motorcycle Club Rally including their Festival of Jurby.
The government has calculated that the event contributes more than £6million to the local economy and £1million to the taxman.
The Isle of Man Treasury is scheduled to carry out a further economic study during the 2015 Festival.
The extra money has come from visitor numbers and revenue from sponsorship, event and Grandstand ticket sales, corporate hospitality, trade sites and other commercial revenue generating activity have all shown significant year-on-year increases.
David Cretney MHK the politician with responsibility for motorsport and tourism, said: ‘Commercial income and visitors numbers, with their contribution to the local economy, are the only way that we can justify investing public funds on an event.
‘These encouraging figures are an effective benchmark of the success of the rebranded event and, combined with increased media interest, give us a platform to build on to secure the event’s long term future and deliver a tangible return on the investment.’
The Classic TT commercial programme run by the Department of Economic Development’s motorsport team has seen new sponsors Dunlop, Vauxhall, and VP Fuels join the commercial partners while the Manx Motor Cycle Club secured a title sponsor, IMGold, for the first time in the event’s 93-year history as well as further sponsorship for the Senior Manx Grand Prix from local company Full Factory Winners Wear.
The Grandstand sold out all tickets on both Classic TT Race days while the department’s hospitality programme, which also ran on both race days, entertained more than 600 guests, generated additional income streams.
The official event programme and retail trade site inventory posted record sales while special events including the Classic TT Party, Classic TT Legends Dinner, the Classic Racer Magazine Lap of Honour and the MGP Reunion Lap all provided additional income to offset the costs of staging the Festival and reduce the public funds required to stage the event.
Meanwhile, the government is bragging that the Classic TT format has proved to be a major hit with the media with many UK and international titles visiting the island for the 2014 meeting.
Mr Cretney said: ‘Media buy-in for the Classic TT concept is really important to deliver the long-term objectives that we have for the Isle of Man Festival of Motorcycling. The positive coverage and level of media interest from this year’s event will help us to achieve our objectives of attracting more visitors to the island and generating additional commercial income from the event.’
The quarterly magazine MCN Sport has produced a ‘retro’ special profiling this year’s festival.
The 28-page feature includes Valvolene Racing by Padgett’s Motorcycles boss Clive Padgett’s Classic TT diary, a look at the ‘unsung heroes’ and ‘Classic TT nobility’ as well as profiling the stories of many of this year’s leading figures. The MCN Sport coverage alone has an advertising rate card equivalent value of £42,000.
MCN Sport’s editor Rupert Paul describes the meeting in his editorial column as ‘a phenomenon’ and goes on to state that the meeting ‘already feels like the best classic race in the world’.
Motorcycle correspondent Mike Nicks, who now works as a freelancer for titles such as MCN, BSN, Classic Bike and UK national newspapers as well as international titles in France, the USA and Australia believes that the event has become ‘one of the biggest events - if not the biggest event - in the classic diary’.
Other titles to visit the island during this year’s festival include Classic Bike, Practical Sportsbike, BSN, Bike and event media partner Mortons Media, which publishes genre titles including Classic Racer.
Motorrad from Germany, MCN Australia, New Zealand’s Motorcycle Trader, Moto Magazine in France and a number of Irish newspapers and magazines were also represented.
The Classic TT also featured in a dedicated ITV4 show, which aired on August 29. The show, which was produced by North One TV, was repeated twice, and generated a total cumulative audience of more than 500,000.