SportsEvents Magazine

MAR 2018

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March 2018 40 outcomes and solutions will be locally driv- en, market by market." The SportsEvents Annual Survey Our extensive research on economic impact begins with comprehensive responses from sports event organizers as well as destination market- ing organizations from throughout the U.S. We've also conducted countless telephone interviews and researched dozens of individual sports throughout the year. In evaluating economic impact, we asked respon- dents to include only new cash that is injected into the host destination as a direct result of a sports competi- tion or event. No multiplier effect is included in the numbers. Our goal is to measure the economic impact of sports compe- titions on the host destination. Also, we exclude most all professional sports (except some non-traditional sports), as well as television revenues, NCAA basketball and football play- offs, and similar such sports event revenues. Total Economic Impact Our analysis indicates the economic impact of the sports events market grew by a healthy 8.1 percent during 2017. Average participation per event expanded ever so slightly, while the number of events increased at a faster pace than last year. The total economic impact of the sports events marketplace in the United States increased to roughly $11.4 billion for 2017. Based on these results, there was an addi- tional $854 million in revenue generated by the sports events market in the U.S. during 2017 over 2016. The growth was fueled by an ever-increasing number of competitions and the rising cost associated with partici- pating. Participation per event grew by less than 1 percent, adding credence to the specula- tion that the capacity for current athletes to compete more often is being highly tested. There was an estimated 2.1 percent increase in the net number of events held; a decrease below the growth rate of 2016's 2.8 percent. Spending Per Athlete Spending per athlete per event increased by 4.1 percent during 2017. This was impacted by the rising cost of hotel accommodations and travel-related expenses. In our study, athletes spent an average of $931.59 per event during 2017, an increase of $36.69 over 2016. Participation and Events The average economic impact per event was $277,145 in our study, a 5.9 per- cent increase over 2016. This growth was driven by the increase in spend- ing per athlete and also because there was a .9 percent growth in the overall average number of athletes per event. Obviously, some events generate millions in spending and others tens of thousands of dollars. Our calculation is the "average" and not ► t SPECIAL Feature

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