World Series Games Worth $15.5 Million Each to New York City Businesses 28/10/2009 |
|
| |
| |
Each World Series game played at Yankee Stadium is worth $15.5 million to the New York City economy, according to an estimate by the city’s Economic Development Corp.
The New York Yankees could play as many as four games against the Philadelphia Phillies in the new, $1.5 billion Bronx stadium, each valued about 30 percent more to city businesses than an ordinary Major League Baseball playoff game, according to David Lombino, a spokesman for the corporation.
More fans visit overnight during the title round than during the earlier playoffs, more press attend and fans spend more, Lombino said in an e-mail.
The EDC is a city-owned corporation that owns and leases property and finances private projects intended to create jobs and stimulate the city economy.
It estimated this month that each playoff game already played in earlier rounds was worth $6.7 million in direct spending and $11.9 million in total economic impact to the city.
That includes money spent by visitors, players and media on hotels, retail, transportation and dining, assuming that about 34,000 people attend the game who don’t live in the city, the analysis said. It also estimated the indirect economic impact, such as workers spending money earned at the stadium, at $5.2 million.
Victor Matheson, who teaches sports economics at the College of Holy Cross in Worcester, Massachusetts, said the World Series may just bring in money originally destined for elsewhere in the city’s economy.
“When New Yorkers spend their money on World Series games, they’re not spending as much on Broadway shows,” Matheson said in an interview.
(Source: Bloomberg)
|
| Back |
| |
| |
|
|
 |
Advertisement
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
