A recent analysis by the Legislature's Office of Economic and Demographic Research revealed that fewer fans resulted in decreased economic returns, primarily due to the absence of fans in stadiums and arenas. Pandemic restrictions led to the cancellation or limited attendance of numerous sports events, resulting in adverse financial outcomes for publicly funded sports venues.
The analysis examined fiscal years 2019-2020, 2020-2021, and 2021-2022, during which the pandemic triggered temporary declines in state tourism starting in early 2020. The Florida Sports Foundation was tasked with examining the performance of various sports-related grants and incentives. Although the grant program played a less financially significant role than stadium incentives, it nonetheless supported 361 sporting events over three years, averaging $21,527 per event.
The analysis estimated that these grants resulted in 502,263 out-of-state visitors, contributing to 2.495 million hotel nights. ← →
The analysis examined fiscal years 2019-2020, 2020-2021, and 2021-2022, during which the pandemic triggered temporary declines in state tourism starting in early 2020. The Florida Sports Foundation was tasked with examining the performance of various sports-related grants and incentives. Although the grant program played a less financially significant role than stadium incentives, it nonetheless supported 361 sporting events over three years, averaging $21,527 per event.
The analysis estimated that these grants resulted in 502,263 out-of-state visitors, contributing to 2.495 million hotel nights. ← →
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Reference: Found here Remarks:
The Florida Sports Foundation is a non-profit organization dedicated to promoting and supporting sports events in the state of Florida. The foundation was established in 1986 and has since been instrumental in attracting and hosting numerous sports events, including the NFL Super Bowl, the NBA All-Star Game, and the NCAA Men's Final Four.Recent achievements of the Florida Sports Foundation include:
* Hosting the 2019 NFL Super Bowl LIII in Miami, which attracted over 100,000 visitors and generated an estimated $300 million in economic impact for the state.
* Securing the 2020 NCAA Men's Final Four basketball tournament, which will be held in Tampa and is expected to bring in over $100 million in economic impact.
* Supporting the growth of esports in Florida through partnerships with universities and industry organizations, and helping to establish the state as a hub for the sport.
Overall, the Florida Sports Foundation has a proven track record of success in promoting and supporting sports events in the state, and continues to work towards making Florida a premier destination for sports tourism.
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A recent analysis by the Legislature's Office of Economic ⁘ Demographic Research revealed a stark reality: fewer fans meant decreased economic returns, attributed largely to the absence of fans in stadiums and arenas.□□□ □□□
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