PwC US Anticipates Super Bowl XLVIII to Generate Over $210M for NY/NJ Area
Monday January 27th, 2014 - 10:38AM W
| | | | | | | | | | |
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
NEW YORK—According to PwC US, direct spending by the National Football League (NFL), businesses, visitors and media on area lodging, transportation, food and beverage, entertainment, business services, and other hospitality and tourism activities related to Super Bowl XLVIII is expected to total more than $210 million.
This estimate is based on a proprietary analysis that considers characteristics unique to this year's event such as the participating teams, attributes of the New York/New Jersey area, national economic conditions and corporate and other ancillary activities.
A distinctive spending profile is likely to emerge from this year's Super Bowl destination given its cold weather and geographic size, resident population, corporate base, visitor attractions/infrastructure and costs of the New York/New Jersey area compared to other host markets. The estimated direct spending associated with the event for the past 10 years is illustrated below in nominal dollars.
"While a world-class destination, Super Bowl-related visitor volume and length of stay in New York/New Jersey could be mitigated by factors such as cold weather, a compressed event and activity calendar, shorter hotel minimum night requirements, and a higher proportion of local attendees, compared to traditional host markets," stated Adam Jones, director, sports and tourism sector, PwC US. "Yet, barring any major weather issues impacting travel, it's anticipated that New York/New Jersey should still yield one of the highest inflation-adjusted results for a Super Bowl, given the relative destination costs and the planned scale of Super Bowl-related events and activities."
Jones continued, "From an impact perspective, one of many unique considerations of having New York/New Jersey host this year's game is the opportunity for the market to locally capture the dollars spent by its deep corporate base on Super Bowl hospitality and sponsor activation—spending that has historically been exported to the other host markets."
Tags: PwC • Super Bowl XLVIII • Hospitality •
I recently returned from ALIS and, on the trip home, Dennis Nessler and I shared stories about who we met and what we heard—not only the news of the industry, but the temperature of it. And, we concluded what many of you I’m sure have, too: It’s pretty hot right now.