2016 Ryder Cup By the Numbers.

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Presentation transcript:

2016 Ryder Cup By the Numbers

Ryder Cup by the Numbers Economic Impact can be defined as the net change in an economy resulting from sport or entertainment event related activity

Ryder Cup by the Numbers This change is caused by either the activities involved in the development of new facilities and/or the revenue generated from visitor and public spending, employment opportunities and taxes

Ryder Cup by the Numbers 453 There are 453 golf courses in the state of Minnesota, employing an estimated 35,000 people. source: twincities.com

Ryder Cup by the Numbers One of those courses, the Hazeltine National Golf Club located in Chaska (a Minneapolis suburb), will host this year’s Ryder Cup 1 source: twincities.com

Ryder Cup by the Numbers According to the World Golf Foundation, the sport generates $1.2 billion in economic activity each year in Minnesota. $1.2 B source: twincities.com

Ryder Cup by the Numbers The event is expected to draw 250,000 attendees from 41 countries to the area which will generate a huge boost for the local economies 250k source: twincities.com

Ryder Cup by the Numbers According to Meet Minneapolis, the event, its attendees and locals are estimated to generate $9 million in revenue for the lodging industry by booking nearly 43,000 hotel room nights 43,000 source: twincities.com

Ryder Cup by the Numbers This year’s Ryder Cup will generate an estimated $4.7 million in revenue for Minneapolis restaurants and other food and beverage businesses $4.7 M source: twincities.com

Ryder Cup by the Numbers According to Meet Minneapolis, the event, the event will create $5 million in retail spending while generating another $5 million in recreation revenue $5 M source: twincities.com

Ryder Cup by the Numbers This year’s Ryder Cup will provide a big revenue boost through taxes, including an estimated $2.4 million in tax revenue for the city of Minneapolis $3.9 million for the state of Minnesota $3.9 M source: twincities.com

Ryder Cup by the Numbers The 2012 Ryder Cup, which was held outside of Chicago, had an estimated economic impact of $70 million to $80 million $70-80M source: twincities.com

Ryder Cup by the Numbers The Ryder Cup will also provide a boost to Minnesota from an exposure perspective. Televised coverage of the Ryder Cup is projected to reach more than 630 million homes in nearly 200 countries, according to the Professional Golfer’s Association of America. 630 M source: twincities.com

DISCUSSION Questions

DISCUSSION Questions What is economic impact? What factors influence economic impact? Do you think economic impact is an exact science? Why or why not? Why might the television broadcast (and the audience) benefit the state of Minnesota?