2012 NBA All-Star Weekend Economic Impact More Than $95 Million
July 4, 2012
ORLANDO, FLA. - More than $95 million in economic impact in Orange County, Florida was generated from the NBA All-Star Weekend (Feb. 24-26), according to a study conducted by Strategic Marketing Services and SportsEconomics, LLC. The event also created 2,250 full-time equivalent jobs and $2.4 million in new tax revenues. In addition the All-Star Game at the Amway Center provided unprecedented exposure, as the contest was broadcast in 215 countries and territories in 47 languages.
The economic impact study included 800 usable surveys representing 2,916 people. The research was based on intercept surveys directly administered to respondents before, during and after the 2012 NBA All-Star Weekend, which was hosted at various locations around Orlando. Survey respondents included visitors and local residents in and around the NBA All-Star Jam Session, Rising Stars Challenge, NBA All-Star Saturday Night and the NBA All-Star Game. The study's margin of error is +/- 4.1 percent.
"Working with the City, County and the NBA, Orlando's All-Star Weekend was an unforgettable event which drove major economic impact, while providing worldwide exposure," said Orlando Magic Chief Executive Officer Alex Martins. "The event also served the community well, as a multitude of service projects were completed during the week."
For the purpose of the study, "economic impact" is generated only when "new" money is injected into the local economy. The study concluded that direct spending outside of events totaled approximately $56.3 million and indirect spending generated $38.8 million, giving a total economic impact of more than $95 million. Direct spending represents dollars spent within Orange County related to events that otherwise would be spent outside the county's economy. Indirect spending is the result from the re-spending of "direct" dollars as they circulate through the local economy and total economic impact is the sum of both direct and indirect spending.