Faced with increasing costs due to the decline of the rand and the substantial growth of the event, the Absa Cape Epic will introduce a US dollar-based entry fee for foreign entrants from 2017. South African riders will continue to pay their entry fee in the local currency. The respective entry fees for 2017 will be R67 900 and 5 490 US dollars. The ZAR / USD exchange rate has declined by over 140% since 2011. Due to this decline in the value of the ZAR, the USD equivalent of the 2012 entry fee (in ZAR) was in fact more than the USD equivalent of the entry fee for this year’s race.
The only change to the 2017 entry process is the introduction of the international lottery.
The cost of staging the Absa Cape Epic and maintaining the standards that have been set, have grown considerably in recent years. This is due in part to the poor performance of the rand against foreign currencies and the race having to cover certain costs including race timing, satellite broadcasts, elements of the TV production, international distribution of television packages and international marketing in foreign currency. At the same time the scale of the event has grown exponentially in recent years and in several areas costs have outstripped inflation.
Some areas where this applies include the following:
The Absa Cape Epic has worked hard and invested considerably in developing its reputation as the world’s foremost mountain bike stage race. It has become an international event with the largest television coverage globally and attracts professional riders and amateurs from around the world.
The race continually strives to offer an unparalleled rider experience both on the bike and off it and it has full-time staff which service the needs of riders and stakeholders around the year. Rider feedback from professionals and amateurs has continually been overwhelmingly positive about the event organisation and the race is proud of its overall event delivery and experience. The business has to continue to adapt to ensure it meets the expectations of its stakeholders.