NCAA March Madness expected to have $6.5 million economic impact on Milwaukee

 In the upcoming month of march madness, Milwaukee is supposed to hold about 18,000 college fans from all over the world. The event is expected to have a $6.5 million economic impact on the area, according to VISIT MilWhen the NCAA Men’s Basketball Tournament rolls into central Indiana in a few weeks, venues will be allowed to have up to 25% capacity, including a limited number of fans. It will be a huge economic boost to central Indiana hotels and restaurants. The high inflow of non-residents to the city will likely increase spending on area hotels, resturants, retail vendors, and rental car companies, in addition to public transportation and parking services. Higher inflow spending in the city means higher tac revenues for the local government, which is a positive for service boosting for local residents. Higher spending will also increase demand for labor, boosting employment opportunities and wages in the labor force. Higher employment and wages are expected as well because the workers spending their income on goods and services.