OREANDA-NEWS. May 31, 2013. Hosting SportAccord Convention 2013 will give a significant boost to the economy of host city Saint Petersburg, according to research revealed today at the Convention by PwC, the global network of professional services firms.

PwC announced that holding SportAccord Convention, from May 26-31, 2013 at Lenexpo Exhibition Complex, will boost Saint Petersburg’s economy by an estimated USD 6.83 million and contribute to helping the city achieve its long-term development goals. The 11th annual edition of the Convention will attract 2,000 delegates from all around the world, most of whom will stay in the city for the entire week.

PwC estimates the direct economic impacts of SportAccord Convention 2013 at USD 3.77 million in spending of non-resident participants in the event. Local companies benefit from this spending, which would not exist without the Convention. Indirect economic impacts, as the initial spending triggers a ripple effect through the value chain of the local economy, are estimated at USD3.06 million.

In addition, SportAccord Convention is expected to have several intangible impacts, such as:

Encouraging business activity in areas related to the event by supporting development of social networks and intercultural contacts.

Attracting major events to Saint Petersburg by demonstrating the city’s ability to host such events.

Promoting Saint Petersburg as an important global destination by hosting a significant number of delegates from all over the world, and publicizing the event through global media.

Inspiring healthy lifestyles by promoting sports, and the hosting of sports events.

Bob Gruman of PwC’s Global Sports Mega-Events Centre of Excellence, stated:

“One of the aims of this event is to develop new business opportunities through networking and exchange among sports industry leaders. We can assume that this will benefit Saint Petersburg, as well as well as its businesses and institutions.”

Nis Hatt, SportAccord Convention Managing Director, said:

“It is extremely gratifying to know that Saint Petersburg will reap real benefit from hosting our event, and to see the value of the Convention confirmed by PwC, which is the voice of authority in research of this nature.”

For full details on the PwC study on SportAccord Convention 2013, visit http://www.pwc.ru/en/globalisation/sportaccord.jhtml.