The Government is investing up to $250,000 through the Major Events Development Fund in the annual Lake Taupo Cycle Challenge, with the 2015 event taking place this Saturday.
The Lake Taupo Cycle Challenge is New Zealand's largest cycling event and attracts around 7,000 international and domestic riders to the central North Island every year.
"The Government's investment is for the 2015, 2016 and 2017 events and is targeted at growing the international reputation of the Challenge, with a view to attracting even more competitors and spectators," said Devorah Blumberg, Manager of New Zealand Major Events.
"The event organisers will develop and implement international marketing initiatives that will raise the profile and scale of the event on the international stage."
The Cycle Challenge is best known for its 160km Bike Barn Solo, a one-lap circumnavigation of Lake Taupo.
There are 17 other categories available as part of the event, including road cycling and mountain biking for individuals and groups.
"We know that international participants and spectators of major events typically extend their length of stay to enjoy the best of what New Zealand has to offer, providing a valuable injection to the local economy," said Ms Blumberg.
"The Government invests in events that provide a platform to showcase New Zealand internationally as a desirable visitor and major events destination, which the Lake Taupo Cycle Challenge achieves."
More information on the Major Events Development Fund can be found on the MBIE website
