PwC US Anticipates Super Bowl XLVIII to Generate Over $210 Million in Direct Spending for the New York/New Jersey Area - Hawaii News Now - KGMB and KHNL

PwC US Anticipates Super Bowl XLVIII to Generate Over $210 Million in Direct Spending for the New York/New Jersey Area

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE PwC US

Distinctive spending profile is likely to emerge from this year's Super Bowl destination

NEW YORK, Jan. 27, 2014 /PRNewswire/ -- According to PwC US, direct spending by the National Football League (NFL), businesses, visitors, and media on area lodging, transportation, food and beverage, entertainment, business services, and other hospitality and tourism activities related to Super Bowl XLVIII is expected to total more than $210 million. This estimate is based on a proprietary analysis that considers characteristics unique to this year's event such as the participating teams, attributes of the New York/New Jersey area, national economic conditions, and corporate and other ancillary activities.  Excluded from the analysis is the so-called "multiplier effect," which accounts for "indirect" impacts, such as a concession company's purchase of goods from local producers and manufacturers, and "induced" impacts which occur when the income levels of residents rise as a result of increased economic activity and a portion of the increased income is re-spent within the local economy.

(Photo: http://photos.prnewswire.com/prnh/20140127/NY52575-INFO)

(Logo: http://photos.prnewswire.com/prnh/20100917/NY66894LOGO)

A distinctive spending profile is likely to emerge from this year's Super Bowl destination given its cold weather and geographic size, resident population, corporate base, visitor attractions/infrastructure, and costs of the New York/New Jersey area compared to other host markets. The estimated direct spending associated with the event for the past 10 years is illustrated below in nominal dollars.

"While a world-class destination, Super Bowl-related visitor volume and length of stay in New York/New Jersey could be mitigated by factors such as cold weather, a compressed event and activity calendar, shorter hotel minimum night requirements, and a higher proportion of local attendees, compared to traditional host markets," said Adam Jones, director, sports and tourism sector, PwC US. "Yet – barring any major weather issues impacting travel – it's anticipated that New York/New Jersey should still yield one of the highest inflation-adjusted results for a Super Bowl, given the relative destination costs and the planned scale of Super Bowl-related events and activities."

Jones continued, "From an impact perspective, one of many unique considerations of having New York/New Jersey host this year's game is the opportunity for the market to locally capture the dollars spent by its deep corporate base on Super Bowl hospitality and sponsor activation – spending that has historically been exported to the other host markets."

About PwC US
PwC US helps organizations and individuals create the value they're looking for. We're a member of the PwC network of firms in 157 countries with more than 184,000 people. We're committed to delivering quality in assurance, tax and advisory services. Tell us what matters to you and find out more by visiting us at www.pwc.com/US. Gain customized access to our insights by downloading our thought leadership app: PwC's 365™ Advancing business thinking every day         

Learn more about PwC by following us online: @PwC_LLP, YouTube, LinkedIn, Facebook and Google +.

© 2014 PricewaterhouseCoopers LLP, a Delaware limited liability partnership. All rights reserved. PwC US refers to the US member firm, and PwC may refer to either the PwC network of firms or the US member firm. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.

©2012 PR Newswire. All Rights Reserved.