How much money can March Madness make in Orlando?
ORLANDO, Florida. Basketball fans flock to cheer for their favorite teams at the Amway Center Downtown Orlando.
The city of Orlando predicts that the NCAA March Madness basketball games could generate a $14 million economic impact for the region.
Victor Matheson, professor of economics at the College of the Holy Cross, called the figure optimistic.
“If the Amway Center was full of out-of-town guests and fully booked for all games, you could get such a high number,” Matheson said. “The problem is, you’re unlikely to fill the entire arena with out-of-towners.”
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At last check, Ticketmaster had several top bowl tickets that could be purchased for as little as $6.
However, thousands of people should be at games like Danny Hawk. He drove seven hours to get here and plans to soak up everything Orlando has to offer.
“I mean, we spent about 1,000 today just today,” Hawke said.
Holly Léger is here to support her son, a freshman cheerleader for the Ragin Cajuns, a Louisiana college basketball team.
“We’re going to have dinner tonight and (we’re going to) celebrate being here with a drink,” Léger said.
On Wednesday, Orlando Mayor Buddy Dyer tweeted, “Here’s why we’ve invested in the Amway Center and our public spaces to host great events like March Madness so residents can have fun and help small businesses.”
Matheson agreed that the event is beneficial, but said the estimated numbers could be problematic for taxpayers.
“It’s OK to throw out inflated numbers, as long as you don’t turn around and use those inflated numbers to try and justify something like a big subsidy for, say, a new NBA arena.”
News 6 reporter Treasure Roberts contacted a Greater Orlando Athletic Commission official. The spokesperson said they would share the results once the event is complete and data is collected.
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