10/18/2011 04:02 pm ET Updated Dec 18, 2011

Economic Impacts Of USA Pro Cycling Challenge Detailed In IFM Report: $83.5 Million Tourist Dollars, 1 Million Spectators

The inaugural USA Pro Cycling Challenge may have rolled out of Colorado in late August, but the race's economic impacts have stuck around.

According to a study released Tuesday by IFM, the race drew over 1 million spectators to Colorado resulting in $83.5 million of economic impact. National television coverage--25 hours worth--will also increase tourism (and tourist dollars) in the state.

"The crowds were big, they were enthusiastic, they spent money in every host city, and just as importantly, they traveled to Colorado especially to see this race,” said Shawn Hunter, CEO and Co-Chairman of the USA Pro Cycling Challenge in a press release. “More than 22% of the 1,000,000+ spectators at our race visited us from outside Colorado. And with 94% reporting they will return next year, that’s a tremendous benefit for the State of Colorado in 2011 and in the future."

Other interesting facts from the report:
  • 94% of spectators are 'likely or very likely' to return to watch the Pro Cycling Challenge next year
  • 71.6% of out-of-state visitors said watching the race was the reason for their trip to Colorado
  • Nearly 85% of out-of-state visitors said they are more likely or much more likely to visit Colorado again based on their experience
  • The average household income of attendees was113,918
  • More than 94% of spectators answered good or very good when asked their satisfaction with the race
  • Spectators made this event a family affair. Party sizes for traveling spectators were large, averaging five+ people per party