“In terms of the magnitude of All-Star, this is our largest in our history,” Silver said. “They’re estimating the economic impact here in Salt Lake City will be roughly $280 million. That’s an all-time record.” Last season Cleveland reportedly saw an economic impact of $250 million last year, including direct net economic benefit to the city of $141 million.
The average revenue of an NBA franchise was $213.5 million in the 2020/21 season. This is a 19% drop from the season before ($264 million). This alone is exceeding what a franchise makes in a season alone.
“We have an all-time record in terms of hotel nights,” Silver said as part of his praise for the state. “We’re occupying 33,000 hotel nights in the community here, and we have more fan events than any time in history.” The real question is, what does this do for a city? The short term process of growth leads to a city that in the long term will be much larger in scale. With a larger place, that will lead to having more people, businesses are able to grow, more businesses are able to come in, and there's greater infrastructure/
“We have an all-time record in terms of hotel nights,” Silver said as part of his praise for the state. “We’re occupying 33,000 hotel nights in the community here, and we have more fan events than any time in history.” The real question is, what does this do for a city? The short term process of growth leads to a city that in the long term will be much larger in scale. With a larger place, that will lead to having more people, businesses are able to grow, more businesses are able to come in, and there's greater infrastructure/
https://kslsports.com/498827/adam-silver-praises-all-star-weekend-in-utah/
It is crazy how a sporting event can have such a massive boost on a cities economy and lead to so much growth. I wonder how they choose what city will get to be the host each year? Maybe they could choose a city thats economy is struggling to help give them a boost.
ReplyDeleteI feel like the NBA always does a very good job at not only making it a sporting event but making it more of an event. They have all these awesome things to get fans involved and to see their favorite NBA stars, so it's no surprise that it boosts the economy so much. Even when it is only 1 weekend.
ReplyDeleteThe NBA and other leagues always have a positive impact on the cities and the areas around them, it is cool to see the impact it has up front through hotels.
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