AECOM study shows world’s largest marathon and New York Road Runners generated $415 Million in economic impact in 2014
October 26, 2015
New York—The TCS New York City Marathon and New York Road Runners generated an estimated $415 million in economic impact in 2014, it was announced today by Michael Capiraso, president and CEO of New York Road Runners. The figure was highlighted in a report produced for NYRR by the Economics practice at AECOM, a global leader in business planning, including economic impact analyses.
“The TCS New York City Marathon creates a significant economic impact throughout the five boroughs,” said Capiraso. “Together with the year-round operation of New York Road Runners, the marathon both draws the city together and generates activity for the business community. From local vendors to restaurants to hotels, tens of thousands of runners and their guests experience the best of New York each year.”
“The TCS New York City Marathon is more than just a race,” said New York City Mayor Bill de Blasio. “It’s a longstanding New York tradition, a jubilant occasion for families, friends and visitors to congregate in celebration and support – and it’s a huge economic driver for our local businesses, hotels, and restaurants. As the marathon approaches and we look forward to cheering on thousands of determined runners, we can also look forward to the hundreds of millions of dollars in economic impact generated by this exciting event.”
The TCS New York City Marathon drew 50,530 finishers from 130 countries in 2014. An estimated 258,100 guests visited the city during TCS New York City Marathon Week. On race day, over one million spectators lined streets of the five boroughs along with 10,000 volunteers while a world-wide television audience watched from home. Marathon Week in New York City features a multitude of events highlighted by the three-day TCS New York City Marathon Health and Fitness Expo held at the Jacob K. Javits Center.
The AECOM study was based on 2014 TCS New York City Marathon participant, sponsor and vendor surveys, a review of New York Road Runner expenditures in New York City and the overall impact of New York City-based charity fundraising. AECOM analyzed direct spending as well as the ripple effects of that spending on the local economy.
In addition to the $415 million in overall economic impact, the 2014 TCS New York City Marathon delivered an estimated $22.2 million in sales and occupancy taxes to New York City.
The 2015 TCS New York City Marathon will be held on Sunday, November 1 and will once again attract approximately 50,000 participants and their guests to the New York City. The TCS New York City Marathon Health and Fitness Expo will continue to be held at the Jacob K. Javits Center. Spending and the ripple-effects of that spending by participants, guests, New York Road Runners, sponsors and vendors as well as NYC-based charity fundraising are anticipated to continue bringing significant economic and fiscal impacts to the local economy of New York City.
Like LetsRun.com on Facebook!