We Discuss The Future of Miami Tourism & the Economic Impact of 2020 Super Bowl with Bill Talbert from GMCVB

The Greater Miami Convention & Visitors Bureau recently released a report on the economic impact of the 2020 Super Bowl here in Miami. We got all the details from GMCVB President, Bill Talbert, on the significance and what the GMCVB has planned for the rest of 2020.

Miami Super Bowl LIV Economic Stimulus to South Florida

Super Bowl LIV Generates $572 Million

The Miami Super Bowl Host Committee released the results of a report documenting the economic impacts of visitors and events leading up to Super Bowl LIV- a historic game which marked the crossroads between the city hosting their record-breaking 11th Super Bowl and the culmination of the NFL’s 100th season celebration. The championship game was played on February 2, 2020 at Hard Rock Stadium.

According to the report, Super Bowl LIV generated $572 million in new spending in the Miami, South Florida Tri-county area. Visiting spectators, NFL teams, media, as well as the NFL and Miami Dolphins spent $275 million to produce the event, adding 4,600 annual equivalent jobs, and $34 million in state and local tax revenues.
Miami Dolphins owner Stephen Ross invested $579 million for renovations and major capital improvements to Hard Rock Stadium during 2015-2019, which enabled the city to attract and host one of the world’s premier sporting events.

Key findings from Sport Management Research Institute economic study:

The economic activity generated by Super Bowl LIV was among the largest of all major sporting events that evaluated over the past 25 years
The level of spending by visitors and the degree of visitor satisfaction with the venue was higher than previous Super Bowls.
Average daily spending by visitors was more than twice the average in other weeks of the year in Miami
The economic study was based on a survey of 1,432 persons during January 30 through February 3 at various locations in the Miami area.
Surveyed respondents reported spending an average of $1,781 per travel party per day in the local area.
An overwhelming share of survey respondents attending the game were visitors from outside the South Florida area, whose total spending of $133 million represents new money in the regional economy.

Super Bowl LIV by the numbers…

65,326 capacity of Hard Rock Stadium on game day
372,000 fan interactions using NFL OnePass app at related events
160,000 attendance at Super Bowl LIVE presented by Verizon and Super Bowl Experience presented by Lowe’s
148.5 million viewers watched all or part of Super Bowl LIV
88% of attendees at the game and 73% attending SB Experience @ Miami Beach Convention Center were out-of-town visitors
35.1% of visitors were from the Kansas City area and 11.9% were from the San Francisco area, representing the fanbases of the two competing teams
3.32 average number of nights stayed by spectators and accompanying party
3.03 average party size
368,011 visitor-days (nights) in South Florida
$1,781 average spending per party-day by spectators
$2,154 average spending per party-day by media
74% traveled to South Florida by commercial airline, and 41% of those arrived at Miami International Airport
35% of visitors used ride sharing to travel to Hard Rock Stadium
25% of overnight visitors used Airbnb or VRBO accommodations
85% of survey respondents rated Miami as an excellent or very good location for the Super Bowl
61% reported having a “more favorable” impression of South Florida and 41% planned to return to the region next year
$242,674 average household income of survey respondents
48 corporate sponsors
$572 million total output impact on local business revenues, including regional economic multiplier effects
$347 million value added contribution to Gross Domestic Product
4,597 fulltime and part-time annual equivalent jobs created or sustained
$34 million in state and local tax revenues generated
400 million minutes of volunteer service contributed by fans during the past year as part of the NFL’s Huddle for 100 campaign
10,000 Teammate Volunteers serving as local ambassadors to enhance the fan experience at airports and event venues
$2.4 million invested to support five different community capital improvement projects in support of youth sports and outdoor activities
1 billion media impressions for Super Bowl LIVE at Bayfront Park on the Today Show and Despierta America