NCAA tournament games expected to have $15 million impact on Louisville
This weekend's NCAA men's basketball tournament games at the KFC Yum! Center are expected to have a $15 million impact on Louisville's economy, according to Louisville Tourism. At least 20,000 people are expected to attend the three games, supporting local bars, restaurants, shops, attractions and hotels while they're there. An economic boost that is much needed for an area that doesn’t get a lot of it. “The ripple effect is tremendous," Davis said. "That 15 million dollars is only the direct economic impact. There's a whole indirect impact that we at Louisville tourism don't typically report on. It's just profound what it does, especially right now for downtown, it's an amazing boost for downtown."
The tournament ranks in the top 15 events this year for the city, according to a list from Louisville Tourism. As well as bringing a plethora of people in the area, the event also gives Louisville national media exposure. "When it's being aired on the Turner networks and them seeing Louisville in the background, it's huge," Davis said. "It's a signature event, much like the PGA Championship, much like, of course, the Kentucky Derby."
This is really cool! What are some other ways you can think of that could lead to sustained business in the Louisville area apart from the short-term NCAA tournament?
ReplyDeleteIt's crazy to see how the NCAA tournament can positively affect not only colleges but entire towns. Has Louisville talked about how they'll use this money to help themselves as a state? It'll be interesting to see if that money ever gets tracked in real time.
ReplyDeleteThe tournament will bring a lot of money into the Louisville economy during the event, but how does this impact them in the long-run? Is there expected to be an increase in tourism after the event, or is it more of a one-time economic boost?
ReplyDeleteI think it's great how an event can help boost a cities economy significantly. Wonder if the tournament will help the city in the long-run not just the short.
ReplyDeleteI wonder how it is decided what cities get to hold events like this? I feel it would be helpful to put these events in cities that are struggling to help give them a boost.
ReplyDeleteThis reminds me of when the Cleveland Cavs won the championship. There were millions of people in downtown Cleveland coming from all across the state as well as out of state, spending money and celebrating. I think it's a good thing that the NCAA tournaments can generate so much money for a city and give it a boost.
ReplyDeleteI wonder what the numbers would look like if a tournament game and the Derby were being held on the same weekend/day. Or how much one would decrease over the other--
ReplyDeletethe fact that the event also gives Louisville national media exposure is an added bonus, as it can help to boost tourism in the long run. Ultimately, it's obvious that occasions like this may provide regional businesses a much-needed lift, and it's wonderful to see Louisville reap the rewards.
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