Report: Sports is very important to Arizona's economy - Phoenix Business Journal

It is common to hear the owners and executives of Arizona professional sports teams refer to themselves as “economic engines” but a new study backs what they have been preaching.

The report found that sports and sports-related tourism accounted for 11% of Arizona’s workforce and 6.4% of its total economic activity in 2022. What's more, the study by the Phoenix-based Common Sense Institute expects the industry to grow over the next several years. “Arizona’s moderate climate, excellent hospitality industry and major event spaces have made it a magnate tourism destination,” Katie Ratlief, executive director of the Common Sense Institute, said in a statement. “This growing sector is a massive contributor to our economy, and big events like this weekend’s Super Bowl will only continue the momentum.”was $719 million, with early estimates saying that the 2023 Super Bowl will have an economic impact of at least $600 million.In 2022, $13.

“Thanks to our operators and our dedicated employees, we’ve come out the other side stronger,” Kim Sabow, vice chair of the Arizona Sports and Tourism Authority Board, said in a statement. “This weekend is an opportunity to highlight the value and contributions of our industry to an international audience, and CSI’s report shows that this is an industry that has a massive ripple effect across all of Arizona.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Funko (FNKO) holding Arizona sale for consumers at new Phoenix metro facility - Phoenix Business JournalFunko moved its operations to the desert last year after consolidating five warehouses in Washington, and it is planning to open its doors to the public for a big sale.
Source: phxbizjournal - 🏆 254. / 63 Read more »

Bed Bath & Beyond adds Phoenix-area stores to closure list - Phoenix Business JournalThe struggling Bed Bath & Beyond Inc. retail chain has released a new list of 150 more location closures, including two in the Phoenix area, adding to previously announced store shutdowns. See the full list.
Source: phxbizjournal - 🏆 254. / 63 Read more »

Phoenix one of only two cities to host Super Bowl four tiimes - Phoenix Business JournalThe Phoenix region is one of only two US metros to host the Super Bowl four times, with the fourth to be played Feb. 12 in Glendale. Here's how the three previous Valley Super Bowls compare in terms of how much money was wagered and total advertising revenue generated.
Source: phxbizjournal - 🏆 254. / 63 Read more »

Super Bowl lures bigger celebrities to WM Phoenix Open Pro-Am - Phoenix Business JournalWM Phoenix Open officials said the Pro-Am field on Feb. 8 this year was as strong has it has ever been. Click through to see what celebrities and athletes hit the links.
Source: phxbizjournal - 🏆 254. / 63 Read more »