WCCO 4: What is the economic impact of the Final Four?
By Heather Brown
MINNEAPOLIS (WCCO) – Now that the games are over, it’ll take a little time to calculate all the money visitors spent, but the host committee has an idea of what to expect.
They commissioned a report that said the Final Four will bring in $142 million.
So let’s break that down. What is the economic impact of the Final Four? Good question.
There are few things meet Minneapolis likes to hear more.
“Anecdotally, a lot of them want to come back at a later time, we did find that out at the Super Bowl,” said Melvin Tennant, president and CEO of Meet Minneapolis.
Eighty-three percent said they’d make a return trip, according to Tennant.
“We think that those statistics will bear out for the Final Four as well,” Tennant said.
Those numbers aren’t even included in the $142 million estimate. That adds up how much the 94,000 out-of-towners are expected to spend on hotels, shopping, food, rental cars and rideshares.
“So that’s great in itself, but what we’re really excited about is that it opens the door for us to go after even more events,” Tennant said.
Tennant says 70 big potentials are in town right now to see how Minneapolis handles big events.
“It’s a prime sales opportunity for us, and that’s the real value,” Tennant said.