2019 Final Four Expected to Draw in 94,000 Visitors, $142M Economic Impact
Super Bowl 52 is long over, but Minneapolis’ days of hosting a big sport event are far from done.
The next NCAA Final Four comes to U.S. Bank Stadium in April 2019, and the firm that produced a pre-event analysis of how football’s biggest night would financially benefit the Twin Cities recently released a report exploring how college basketball’s biggest premier event could impact the metro area.
When it comes to out-of-towner spending and the larger economic impact, Pennsylvania-based Rockport Analytics believes $142 million could funnel into the state over the course of the 2019 Final Four tournament.
That number is based on an assumption of $35 million in displaced tourism during the four-day event, subtracted from the $168 million expected in gross local spending, reported the Star Tribune.
Rockport estimated the Twin Cities will see 94,000 visitors – people who come from more than 50 miles away or who stay in a hotel – and that daily spending of each person will be about $386 over an average of 3.4 days. The expected tax windfall from the Final Four is $23 million.
The report notes figures don’t include additional benefits of the event, including media exposure and new consideration of the Twin Cities and Minnesota for future events. Additionally, pre-event economic impact studies aren’t always exact.
However, as Final Four CEO Kate Mortenson told the Star Tribune: “Whether it’s $100 million or $150 million, it’s that much more than zero.”
The Rockport Analytics report was commissioned by the 2019 Minneapolis Final Four Local Organizing Committee.
Next year will mark the city’s fourth time hosting the basketball tournament. The 2019 Final Four is scheduled to take place from April 6 to 8.