The Charlotte Regional Visitors Authority (CRVA) has released the results of an economic impact study surrounding a "basketball trifecta" in the Queen City between February 15 and March 16 this year.
The NBA All-Star Weekend (Feb. 15 -17), Central Intercollegiate Athletic Assoiation (CIAA) Men’s and Women’s Tournament (Feb. 25 through March 2) and the 2019 New York Life Atlantic Coast Conference (ACC) Tournament (March 12-16) contributed a combined $167 million in economic impact to the region, including $93.5 million in direct visitor spending.
Of that total, the CIAA generated $43.7 million in economic impact outproducing the Division I ACC event two weeks later by $7.1 million.
“The hospitality and tourism industry is one of the major drivers of economic benefits to the region, and these figures underscore the value of the visitor economy” said Tom Murray, CEO of the CRVA.
From the survey:
- The (CIAA) tournament created $25.6 million in direct visitor spending in the region, with expenditures on lodging, food and beverages producing an estimated $2.96 million in state and local sales tax revenue.
- The tournament remained a consistent draw with close to 76,000 fans and visitors attending the games over a six-day period.
- Over 81 percent of surveyed attendees said they were likely to visit Charlotte for a future leisure trip and would recommend visiting Charlotte to friends and relatives.
- Of the ancillary official tournament events, the Toyota Fan Fest, Lowe’s Super Saturday and CIAA Career Expo at the Charlotte Convention Center, were among the top attended.
- The CIAA community-focused events engaged the local community, drawing 200 entrepreneurs and business leaders to the Minority Business Symposium and more than 6,000 area high school and middle school students to the STEM Day initiatives.
- In a post-event survey, nearly 4 in 5 visitors were satisfied with their 2019 tournament experience, citing “an overall positive experience,” “socializing with friends,” and “Charlotte is a great location” as the top three attributes.
“The numbers reinforce the impact of the CIAA Men’s and Women’s Basketball Tournament in the community,” said CIAA Commissioner Jacqie McWilliams. “Our tournament brings an amazing influx of fans to the city and our community-based activities create a memorable experience for all, with the game of basketball at the center."
The CIAA's Men's and Women's Basketball Tournament will again be held in Charlotte in February 2020 before moving to Baltimore in 2021.