New York City Sports Commission and New York Road Runners Announce Economic Impact for ING New York City Marathon Grows to $220 Million
Oct 30, 2007
FOR IMMEDIATE RELEASE
New York City Sports Commission and New York Road Runners
Announce Economic Impact for ING New York City Marathon
Grows to $220 Million
The New York City Sports Commission and New York Road Runners yesterday
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.
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