Confirmation that the North West 200 will return this year has been hailed as "fantastic news" by local traders expecting a "full uplift" from the thousands of visitors expected.
All motorcycle events had been cancelled back in February due to rising insurance costs, but it was announced on Wednesday that a new insurance deal has been agreed to allow the international road race and other meetings, short circuits and trials to take place in 2023.
A revised quote was received by the Motor Cycle Union of Ireland (Ulster Centre) last week, while over £90,000 has been raised through a crowdfunding campaign.
READ MORE: North West 200 and other Northern Ireland motorcycle events to go ahead in 2023
Causeway Chamber of Commerce president Anne Marie McGoldrick, speaking to Belfast Live, welcomed the turnaround.
"It’s fantastic news," she said. "Common sense has prevailed for once thanks to a wee bit of compromise, which is not a word we use very often in this part of the world.
"A wee bit of compromise is great. I think there should have always been that bit of compromise with the insurance company, and they have come down substantially. It’s good to see the backing they got from their funding page, and it’s good to see the backing of local businesses supporting them. I did go to their ‘meet the stars’ event to say how important it is to the Chamber, to the economy and to the local area."
She continued: "There is an assumption that when the North West comes there is a boost to the local economy - for small businesses particularly. We see a lot of booking in advance, lots of accommodation, we see local restaurants and cafes taking on more staff. The whole area gets a full uplift from the amount of tourists. And lots of people will come back again. For many people it’s their first time visiting the area and they will come back to enjoy the North Coast. It is a really good backdrop for people to see this area at its best.
"The amount of extra business that we get is enormous, and it’s not all measured in that week."
Looking ahead to the wider future of the event, she said: "The last minute nature of this was really bad. We’ve been planning for this since September. As small businesses we put that into our business plan for the year, so not to have it would have been disastrous.
"I think we would be foolish to make assumptions again. What we’re going to do from now is plan this in advance. I think, as an overall event, we should be highlighting the importance of this to the powers that be to ensure it gets the level of support it deserves. We aren’t going to take it for granted and say ‘this is fixed now, there’s never going to be a problem’."
The news has also been welcomed by politicians.
SDLP MLA Cara Hunter, in a statement, said: "The cancellation of the road racing programme for 2023 devastated people right across the North Coast and further afield."
She added: "I’m delighted that a solution has been found that will allow the North West 200 and other events to go ahead this year. This is good news not just for road racing fans, but for the local economy which stands to benefit from millions being spent in our hotels, bars, restaurants and other local businesses who love to see these events taking place and the buzz that they bring with them."
DUP MLA Stephen Dunne said: "This is great news for Northern Ireland, and our local economy. Events like the North West 200 are the jewel in our crown and are enjoyed by people from across the World every year, and we simply could not afford to lose iconic events like the North West 200."
He added: "We have such a rich sporting heritage in motorcycling racing in Northern Ireland, both on our roads, and tracks with stars including former World Champions such as Jonathan Rea and the iconic, Joey Dunlop, all local riders who have reached the top in their sport."
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