Businesses prepare for 'major economic boost' as Isle of Man TT approaches

Video report by ITV Granada Reports' Isle of Man reporter Joshua Stokes
Businesses on the Isle of Man 'reliant on the TT' are preparing for the return of the world-famous races.
Several entrepreneurs across the island have spoken about how valuable the racing is to their businesses.
More than 50,000 tourists from across the world are expected to travel to the island to witness the action.
CEO of Duke Events, Peter Duke, believes the racing brings in 'well over £50 million' to the Manx economy.
He said: "We're fairly dependent on it, we certainly suffered during the Covid lost years, that was really really difficult - but we survived, we're still here and we just want to make the TT experience better for everybody."
Duke Events has a number of pop-up accommodation sites across the Isle of Man, housing hundreds of TT fans travelling across the world to witness the races.
Mr Duke said there has been a steady increase in visitors from North America, particularly since the launch of the TT+ service, live streaming the racing across the globe.
"40% of our guests are from North America now - they see it on TV and they love it!". A number of pop-up camping sites are built all around the Isle of Man to accommodate the tens of thousands of visitors. Credit: ITV Granada Reports
Chris Kelly has a number of businesses on the island, but it is in catering where he makes his money during the TT period.
"The TT is this business", he said.
"Other smaller events in the year, the money just isn't in them. I mean there's a lot of businesses that just rely solely on the TT".
Mr Kelly is preparing for his second year stationed in the fan park at the TT Grandstand, after a successful first outing in 2024.
"Myself and my wife Tash ran it single-handedly, we did get a bit of help from family and friends, but it was an exhilarating experience". Red Arrows set to return to Isle of Man TT 2025 Chris Kelly prepares his churros truck, ahead of two weeks of racing. Credit: ITV Granada Reports
Work is underway to build the TT fan park and paddock surrounding the Grandstand.
The site is the largest so far, covering 120,000 square metres of space around Nobles Park - including race control, accommodation and car parking.
Paul Phillips, Head of Motorsport at the Isle of Man Government, said: "It's a huge undertaking. It's in effect building a village or a town from scratch in a greenfield site."
When asked how much the TT benefits the economy, Mr Phillips said: "The tentacles of TT economically go far wider than just visitors or visitor spend.
"There's all of the jobs that it sustains all year round, whether that's in media, in infrastructure and logistics.
"Most of the sports clubs turns into campsites generating lots of revenue effectively keeping them afloat.
"Other organisations are able to create pop-up business that gives them a level of income that allows them to operate all year round."
The Isle of Man TT starts on Monday 26 May and ends with the Senior TT race on Saturday 7 June.
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