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NCAA News Release
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Men’s Final Four® Generates an Estimated $71.9 Million for St. Louis
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For Immediate Release
Wednesday, September 14, 2005
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Contact(s)
Bill Hancock
Consultant to the Division I Men’s Basketball Championship
317/917-6499
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INDIANAPOLIS---According to a survey commissioned by the NCAA and the St. Louis Organizing Committee, the 2005 NCAA Men’s Final Four generated an economic income of $71.9 million for the St. Louis metropolitan area.
The study was conducted by Dr. Patrick Rishe, associate professor of economics at Webster University in St. Louis.
Rishe’s research estimates that the Final Four brought more than 54,000 visitors to the region. According to survey results, those visitors were responsible for:
• $6.4 million in direct spending on local hotels and lodging;
• $6.3 million in direct spending at food and beverage establishments;
• $5.0 million in direct spending at retail and other shopping outlets;
• $1.0 million in parking expenditures;
• $1.3 million in rental car expenditures;
• $3.5 million in tax revenue for the 12-county St. Louis metro area.
Excluding hotel and rental car expenditures, Final Four visitors spent an average of $181 per day during their stay, survey results indicated.
The study revealed that 30.7 percent of visiting fans used the MetroLink light rail system. Of the $71.9 million in economic impact, the Final Four created $47 million in direct spending; $9.8 million in indirect spending (which measures how supplier-chain firms are impacted by the increased business realized by the directly impacted firms); and $15.1 million in induced spending (which measures how employees of all impacted firms spend their additional income gained from the initial rounds of impact).
“This information confirms what we have learned in the past,” said Gregory A. Shaheen, NCAA vice-president for Division I Men’s Basketball and Championship Strategies. “The Final Four is a wonderful event for the host city.”
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