Wrestlemania Had a Record Setting $100 Million Impact on Miami's Economy
Categories: Business
If only we could find a way to host Wrestlemania not just every few years, but all year long. Then maybe we'd get our economy heading back in the right direction.
According to a study commissioned by World Wrestling Entertainment, this past year's Wrestlemania, held at Sun Life Stadium, had a $102.7 million impact on the economy of Miami-Dade. They claim that's the equivalent of creating 1,020 full-time jobs.
From the press release: A capacity crowd of 78,363 fans from all 50 states and 36 countries attended WWE's pop-culture extravaganza this past April. Key highlights from the study include:Wrestlemania's economic impact was pretty impressive, but it wasn't a total economic body slam. The last Super Bowl held in Miami, in 2010, was said to have had a $333 million impact on South Florida.
- $102.7 million of direct, indirect and induced impact derived from spending by non-locals visiting specifically for WrestleMania XXVIII.
- 71% of fans that attended WrestleMania were from outside the Miami area and stayed an average of four nights.
- The economic impact derived from WrestleMania Week was equal to the creation of 1,020 full-time jobs for the area.
- $6.9 million was spent by non-locals at Miami and Miami-Dade County restaurants.
Art Basel Miami Beach alone has been estimated to have a $500 million impact on Miami since its inception, and that's not counting satellite fairs. Ultra Music Festival is said to have a $79 million economic impact on Miami each year.
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