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After 1992: Economic Impact Of Sporting Events

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Danielle Dalpiaz Mrs. Karavas English 12 March 20, 2024 Economic Impact of Sporting Events For the first time since 1992, an underdog team made their appearance in a semi-final game. The Detroit Lions shocked the whole city and attracted fans from all over the country. Fans were spending paychecks on tickets to get into the games to support their cities. The support from all over the state of Michigan has made an impact. The Lions have boosted the economy by having numerous fans in the city of Detroit for the games. These fans all needed a place to sleep, food to eat, jerseys to wear, and tickets to get in. The economy booms from major events that take place in cities. They also help these cities grow into bigger areas with the money they earn. …show more content…

Marketing jobs have opened for athletes more recently but have generated many prophecies for the economy and sporting teams. The economy is extremely impacted by the consumer spending that takes place during their visits. Tourists who come to games have to make themselves a livable space and live a memorable moment. Sports tourism increases local businesses' income, transportation, hotels, and restaurants (Tap). When a city hosts an event, fans need a place to stay, eat, and activities to do. Hotels and houses will increase prices for a night stay. This is because the need for a night stay is high, causing the economy to rise. Taxis, Uber, and rental cars are used daily to transport tourists from place to place. Restaurants and fast food places produce greater prophetic food as well. With the extra fans in their town, they gain more customers. “Major sporting events generate substantial revenue through ticket sales, broadcasting rights, sponsorships, merchandise sales, and tourism” (Yellowbrick). When large events come to a town, or the demand for tickets is high, prices will increase. Broadcasting services have to be purchased, as well as the equipment the streamers …show more content…

“The Economic Impact of the Sports Industry: Driving Growth, Job Creation, and Revenue Generation.” LA Progressive, 17 May 2023, www.laprogressive.com/sponsored/economic-impact-of-the-sports-industry. Accessed 12 March 2024 “How does sport contribute to tourism?” SportandDev.org, 26 September 2022, https://www.sportanddev.org/latest/news/how-does-sport-contribute-tourism. Accessed 12 March 2024 “Tap into the Economic Growth Fueled by Sports Events.” www.linkedin.com, www.linkedin.com/pulse/tap-economic-growth-fueled-sports-events-predicthq-6spcf/. Accessed 12 March 2024 ‘’Taylor Swift’s Impact on Chiefs, NFL Brand Value - Blog.” www.ngpf.org, www.ngpf.org/blog/question-of-the-day/question-of-the-day-what-was-the-estimated-dollar-amount-of-the-economic-impact-generated-by-taylor-swifts-concert-in-santa-clara-ca/#::text=%22 According%20 Accessed 12 March 2024 Yellowbrick. “The Economic Impact of Sports: Exploring the Financial Benefits.” Yellowbrick, 9 Nov. 2023, www.yellowbrick.co/blog/sports/the-economic-impact-of-sports-exploring-the-financial-benefits#::text=Major%20 sporting%20 events%20 generate%20

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