World Wrestling Entertainment’s WrestleMania XX Generated $13.5 Million In Local Economic Impact
STAMFORD, Conn.– Dec. 1, 2004–WrestleMania® XX, held at Madison Square Garden in New York City on March 14, 2004, resulted in an estimated $13.5 million of new economic activity for New York City and created the equivalent of 96 full-year jobs. More than 50 percent of those jobs were in the hospitality sector. Spending related to WrestleMania also generated $2 million in city, state and federal taxes.
In the study, conducted by Enigma Research Corporation, researchers categorized WrestleMania as a “destination” event. Eighty-six percent of the 18,000-plus attendees resided outside of New York’s five boroughs, with attendees coming from 16 countries and 48 states. Spending on goods and services by these non-local WWEá® fans translated into $7.9 million of impact, with each non-local WrestleMania fan spending an average of $555 on goods and services while visiting New York. “This level of spending per person is exceptional for any event,” according to Michael Harker, a senior partner with Enigma Research Corporation. The remaining $5.6 million of economic activity resulted from WWE’s operational spending on hotels, catering, security, and production for the event.
For a copy of the entire research report, including methodology and detailed results, please contact Bob Collins at 941-966-3611.
Enigma Research Corporation is an international consulting firm which specializes in measuring the economic impact of special events. Enigma’s economists developed a customized model which converted expenditures into economic impact, employment created, and taxes generated as a result of the event.
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