The Economic Effect of an Event That Happens once a Year
The Economic Effect of An Event That Happens Once a Year.
The Super Bowl is a season-ending championship game that is hosted by the National Football League (NFL). On measures, the Super Bowl is the most popular sporting event in the United States. The average price of the 2011 Super Bowl was $900. Many people can spend thousands of dollars just on tickets. It is the most watch program in the United States every year. Some might not even enjoy football, but they still watch this event. The last ten Super Bowls before the 2011 Super Bowl was the most watched program in the last decade. On an average there were 90 million viewers, by comparison, the NBA final drew 14.3 million viewers per game and the MLB World Series attracted just under 19 million viewers per game.
Having an incredible audience watching the game creates high advertising revenue. A 30-second commercial spot is the single most valuable piece of real estate in television broadcasting. In 2011 a 30-second commercial sold for 3.1 million dollars that were a 13 % increase from the year before. Even though the last couple year during a rough economic time in the United States, the Super Bowl has seen a rapid increase in sales over the past couple decades.
One of the main economic impacts during the Super Bowl is in the cities that host the Super Bowl. Unlike many other championship events, the game is played at a neutral site. Unlike many bowl games played in college football every year, there is a new site every year. The cities that are lucky enough host the Super Bowl see and a significant boost in their economy. Last year’s Super Bowl at Cowboys Stadium, Legends Hospitality said it achieved record per capita game-day spending on food and drink of $89. The stadium's concessionaire didn't put a figure on the game-day total. But with game attendance of 103,219, the spending of $89 per person would work out to more than $9 million in sales. Legends officials had expected sales of about $5 million (Halkias).
The 2012 Super Bowl will help in Indianapolis at Luca Oil Stadium. This is the first Super Bowl to be hosted by Indianapolis. They know how to put on a great sporting event, with the Indy 500, the Brickyard 400, Big Ten Championship game in football and the NCAA Final Four in men's and women's basketball. The Super Bowl is expected to help not only Indianapolis's economy but also surrounding areas, including Muncie. With all of the activity surrounding the metropolitan area, Indianapolis is anticipating around 150,000 visitors. Hotels