Two Wanaka events generated nearly $23.5 million in economic benefits for the town in the past 12 months, according to two surveys released this week.
The Warbirds Over Wanaka Charitable Trust generated $20 million from its April 2010 airshow, while Challenge Wanaka generated $3.47 million from its triathlon festival in January.
The Warbirds trust commissioned market research company SIT Workforce to survey 443 airshow attendees, while the Challenge Wanaka Sports Trust surveyed athletes online, about 650 (more than 50%) responding.
Challenge Wanaka also surveyed spectators face-to-face on race day.
Warbirds Over Wanaka chief executive Roger Clark released the airshow accounts at its annual meeting on Wednesday, revealing income of $2.5 million, expenditure of $2.5 million and a $143,000 deficit, despite a $140,000 operating surplus from the 2008 airshow.
Mr Clark said revenue had increased but the deficit occurred because the trust had made one-off, unbudgeted investments considered vital to the airshow's future.
They included securing the ownership of the former New Zealand Fighter Pilots Museum, buying the former Alpine Fighter Collection hangar, developing a new multimillion-dollar visitor attraction to open in July, and securing attractions for the 2012 airshow.
The trust was committed to regional tourism and growth, Mr Clark said.
"The most important thing for me is though we've made a small loss on this show, we have invested in the future ... so we can have a sustainable visitor attraction that will give us 12 months' visibility in the market," Mr Clark said.
Another important aspect of the survey was that for the first time, the trust felt the crowd number had been assessed as accurately as possible.
There were 65,000 at last year's airshow.
That was fewer than numbers quoted in the past, but previous estimates had included an element of guesswork.
Airshow visitors spent $10.6 million through local businesses and another $5 million outside the region.
The airshow trust indirectly spent about $2.5 million in the region, including contributions to local clubs and organisations that helped put the show together, Mr Clark said.
Challenge Wanaka should break even and its audited accounts would be released at its annual meeting later this year, event director Victoria Murray-Orr said yesterday.
Visitors directly contributed about $2.97 million to the local economy, while the event spent an additional $500,000 on local services and infrastructure.
Economic benefits continued throughout the year.
This was because 33% of the surveyed athletes visited Wanaka to train, staying 5.5 days on average, Mrs Murray-Orr said.
"The survey results reiterate the important role major events play within a region.
"It's not just the financial benefits they bring but also the social benefits, and a huge thank-you must go to the Wanaka community for its ongoing support.
"With the growth year-on-year the event has firmly established itself on the New Zealand events calendar, as well as becoming a must-do event for athletes across the globe," she said.
"International media coverage also increased significantly this year, which will work to attract further athletes and tourists to the region from overseas," she said.
Challenge Wanaka was supported by 650 volunteers, local sponsors and patrons.
It donated a total of $9000 to the Upper Clutha Children's Medical Trust, Rotary and the Upper Clutha Rugby Club.
