ING New York City Marathon Creates $220 Million in Economic Impact
Posted October 30th, 2007 at 10:42 AM by Allyson Rosen
Section: News & Results, Marathons
The New York City Sports Commission and New York Road Runners today announced that the ING New York City Marathon brings an estimated $220 million in economic impact to the city. Already the highest-grossing single-day sporting event in New York, the marathon’s estimated impact this year is up from $205 million in 2006. These figures are the results of an independent study conducted by Economics Research Associates.
The annual event, now in its 38th year, has more than 37,000 runners, 2.5 million spectators lining the streets of New York, and a worldwide television audience of more than 300 million. Eighty percent of the runners are from outside New York City and nearly 50 percent come from outside the U.S.
“The ING New York City Marathon is as diverse as the city itself,” said New York Road Runners president and CEO Mary Wittenberg. “With more than 100,000 applicants this year, the event continues to attract runners from around the world while bringing together the city of New York.”
“New York City continues to flourish economically thanks in large part to signature sporting events such as the ING New York City Marathon,” said New York City Sports Commissioner Kenneth Podziba. “While the numbers speak for themselves, the positive impact that the event has had on our city cannot be measured in dollar figures alone. The ING New York City Marathon creates a unique energy and excitement that fills the city each year, and I look forward to watching this event continue to grow bigger and better.”
Marathon participants and spectators spend $71 million on hotels, $45 million on food and beverages, $42 million on retail merchandise, over $16 million on entertainment, $14 million on transportation, and $11 million on running and fitness gear at the ING New York City Marathon Health and Fitness Expo.
The study revealed that 15 percent of the runners had an income of more than $250,000 with an overall average household income of $130,000. The study also suggests that runners are likely to spend more money than an average tourist because they view the race as a celebratory event. Half of those runners come from abroad and stay in the city for an average of six days.
The difference of $15 million from 2006 to 2007 is accounted for in part by the $4 million growth of New York Road Runners and its budget, and from $1.6 million from more than 40 vendors and sponsors participating at the ING New York City Marathon Health and Fitness Expo.
***Note: We encourage EVERYONE to see a doctor before altering their diet, taking a supplement and/or performing athletic, fitness or other strenuous physical activity. It is your responsibility to evaluate the accuracy, completeness and usefulness of any information, instruction, opinion or advice contained in the content. Please also see our complete disclaimer.***
Tags: abroad, America, economic impact, economics, economics research associates, Health and Fitness Expo, household income, ING New York City Marathon, ING New York City Marathon Health and Fitness Expo, international runners, marathon, marathon expo, Marathon participants, Mary Wittenberg, merchandise, New York City, New York City Sports Commission, new york road runners, newyork2007, NYC Marathon, nyrr, research, runners, spectators, sporting event, study, United States
Like what you see? Subscribe to our feed!
The Final Sprint