Thursday, May 24, 2007
Super bowl impact figures
The local organizers have released a study of spending on Super Bowl 41 in Miami. Their bottom line, as reported by the Miami Herald: 112,000 visitors, spending $688 per day, for a direct spending infusion of $298 million. (The typical visitor spends about $200 per day - these are high rollers.)
Phil Porter has skeptical take on this:
Pat Rishe is also quoted: '"No question the Super Bowl attracted more [economic] activity than otherwise would have been the case in Miami that weekend," Rishe wrote in an e-mail. "But at the same time, Miami would not have been a ghost town either."'
The study was done by the Sport Management Research Institute, whose website has list of news references to their work, but no link to the study itself. A rather detailed executive summary is available via the Herald.
Phil Porter has skeptical take on this:
Philip Porter, a University of South Florida economics professor, said $280 million in Super Bowl spending is too much for South Florida -- equaling 72 hours of total economic output throughout all of Miami-Dade County.Porter's comparison is a useful reality check. It does miss the fact that hotel rooms and the like are fully priced during Super Bowl week. A decent chunk of the additional spending is a price effect rather than quantity.
''In order to accomplish this, every sales line would have to double,'' Porter wrote in an e-mail. ``This is impossible. You'd have to sell twice as many cars, televisions, washers and dryers, etc., to accomplish this.''
Still, there's no doubt the game brought a major boost to the hospitality sector. Hotel taxes in Miami-Dade surged 15 percent in February and room revenues surged between 11 and 21 percent from Fort Lauderdale to Key West, according to state and industry data.
Pat Rishe is also quoted: '"No question the Super Bowl attracted more [economic] activity than otherwise would have been the case in Miami that weekend," Rishe wrote in an e-mail. "But at the same time, Miami would not have been a ghost town either."'
The study was done by the Sport Management Research Institute, whose website has list of news references to their work, but no link to the study itself. A rather detailed executive summary is available via the Herald.
Labels: economic impact, mega-events, NFL
