If you like me are just now beginning to pay attention to college basketball, don’t feel alone. Many people are just now paying attention as they look at their office pool brackets and wonder if they will win that $50 in the pool. For others, this time of year means attendance and the folks at Philadelphia CVB are no different. March Madness hit Philadelphia this last week with a bang.
“We’re thrilled to have March Madness back in Philadelphia, and be in the national sports spotlight yet again,” said Larry Needle, executive director, Philadelphia Sports Congress. “Special thanks to the NCAA, St. Joe’s, and Comcast-Spectacor for their partnership in producing a first-class event.”
In addition to the numbers of people that will be attending the vent, the surrounding area will also benefit just by the fact that others are participating.
According to the Philadelphia Sports Congress, a division of the Philadelphia Convention & Visitors Bureau, more than 10,000 out-of-town visitors, using more than 5,000 hotel room nights are expected to generate more than $5 million in economic impact for the region. Direct tax revenues to the City of Philadelphia are anticipated to be approximately $300,000, based primarily on Amusement, parking, and hotel taxes.
March Madness means college basketball gets a boost of followers and lots of fans hopping on the bandwagon of their local team or the team with the coolest colors (ask my kids). For Philadelphia the economy gets a boost in the arm.