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Tournament Scores For Community
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Published: March 21, 2008
Eight men's college basketball teams have descended on Tampa for the NCAA regional basketball tournament. More important for local businesses, thousands of their fans are here for the regional games that begin today.
As Tribune reporter Jerome Stockfisch points out, however, some academics have their doubts about the economic impact of these games, or of any major sporting event. Philip Porter, an economics professor at the University of South Florida, has maintained for years that there is no measurable increase in sales tax revenue during these sports events - even though thousands of out-of-town visitors fill up hotel rooms and spend money in local restaurants and bars. He says visitors and locals would have spent as much money anyway.
Rob Higgins, executive director of the Tampa Bay Sports Commission, estimates about $40 million in economic impact for this weekend's regional and the NCAA women's Final Four next month, with both events being held at the St. Pete Times Forum.
Perhaps the figure is high, but having thousands of avid out-of-town fans in town will, you can bet, generate more commerce than a typical spring weekend. Sure, there might have been plenty of visitors anyway. But the sporting event virtually guarantees the trade and is not as vulnerable to weather, gas prices and other factors that affect travel plans.
Guy Revelle, who owns four clubs and restaurants in the Channel District near the forum, said there was no question that events like last year's Atlantic Coast Conference basketball tournament boosted sales well above normal weekend traffic.
Additionally, the economic impact of such events is not limited to the city of Tampa. Many of the visitors are likely to stay and shop in nearby cities. As was the case with the three Super Bowls and one men's Final Four Tampa has hosted, the benefit is spread over the bay area.
Numbers aside, hosting a NCAA regional provides valuable exposure for the host city. Every time an announcer says "Tampa," people across the nation will think of our area, and there is no economic figure that can measure the value of that.
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Reader Comments
Posted by ( Fred ) on March 21, 2008 at 9:44 a.m. ( Suggest removal )
Heaven forbid that our community might actually make money on sports! It's what your community leaders have been saying for years but you criticized them. Hey Tribune make up your mind!
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