Impacts of Superbowl XLV to the Economy

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Table of Contents

Introduction
Economic Impacts
Conclusion
Reference list

Introduction

SuperBowl XLV was an American football match between two champion teams in the American football league. It was played between Pittsburgh Steelers and Green Bay Parkers both champions of the 2010 season of the American football conference and National football conference respectively. The match took place on February 6, 2011, at cowboys’ stadium in Arlington, Texas. It was an exceedingly intriguing match that brought to the table economic impacts in the city by the big crowd who were in attendance. In this essay, I highlight the importance of SuperBowl XLV to the economy of the City of Texas.

Economic Impacts

According to Polzer (2011), revenue collection increased by an estimated $17.2 million earned from direct expenses like admission charges during the matches. An additional $ 9.7 million was collected from hospitality services provided within the city. The total revenue collected summed up to $.31.2million. According to the Texas Controller of Public Accounts, the amount of money collected from the community was enough to support the event. Hotels got a fair share since they got an opportunity to maximize their profits. A total of twenty-four thousand rooms had to be blocked to keep reservations in twelve areas around Dallas Texas just for the event. Food and drinks were also in high demand, a factor that resulted in increased sales for hotels and caterers.

The corporate organizations did contribute to the business of the city. Information collected during that time reveals that close to twenty corporations were expected to make business meetings in the area prior to the game. The meetings were intended at sourcing for potential business opportunities in the city. The possibility of long-term ventures from such meetings is real, and it creates employment and business opportunities.

Promotion of tourism was evident through the gloaming numbers of visitors touring the city. Close to six hundred private jets landed in different airstrips in the city and its surroundings. This increased the landing and docking fees along with fuel sales. Moreover, in future an additional 147,000 people per year are projected to be coming to the area as a result of the tremendous exposure it received. These people will use the facilities and services available in Texas City and further boost revenues. The fact that both teams were not from Texas was an advantage because there were many number of fans from outside the region coming to cheer their teams.

Communication is a vital tool in any region (Rescininti, 2000). To host such a large number of people, telecommunication industries have to upgrade their services and infrastructure. When the games are over, the benefits remain in the region. During such events, locals also get jobs as translators. Language differences between locals and visitors encourage cultural exchanges, which have positive economic effects in the tourism industry.

Yum center of Louisville, Kentucky is a new arena opened in October 13 2010, purposely for an exhibition basketball game between University of Louisville and Northern Kentucky University. It offers sports, entertainment and is anticipated to facilitate different developments. According to Krueger (2011), it is estimated to be worth $238 million and situated in a strategic area down Louisville city where traffic is less experienced. Business is improving because of the presence of this center and the results are evident. For example, the Blueglass, a brewing company, will not source for business or relocate anymore as planned, but will instead open new restaurants within the area. More visitors will be visiting the cities which will boost revenues in the hospitality industry.

The center will also host celebrity shows from all over the world which will promote the entertainment industry. In support of this, Singers like lady Gaga, Eagles, Dan cook, the Juds are scheduled to perform in the arena for overnight concerts. Music and basketball fans are expected to attend the concerts thus promote different business ventures in the region such as hotels and entertainment joints. Tourism will definitively get a boost now that business executives will be visiting the town for possible business opportunities. Quality of life of the community of this region will improve, through employment and business opportunities that will be created.

Conclusion

In conclusion, SuperBowl XLV is a sport that has positive impact on the economy of any city. Investors are encouraged to invest in the sport due to the tremendous economic returns it offers. For any city hosting such an event, it is bound to benefit from the large number of participants and audience. Infrastructure is improved, businesses register higher sales, there are new job opportunities, as well as cultural diversification. The level of publicity enjoyed by the city in the process also allows it to market other products that may not be related to sports. As more corporate organizations show interest in sporting activities, it is evident that it is an opportunity that many cities and nations need to take advantage of.

Reference list

Krueger, T.M. (2011). An examination of SuperBowl stock market predictor. The Journal of Finance, 77, 50-97.

Polzer, J. (2011). The after math. London: McGraw Hill.

Rescininti, A. (2000). SuperBowl victories. Washington DC: Russel Publishers.

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Impacts of Superbowl XLV to the Economy

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