With the National Retail Federation [NRF] estimating that $10.1 billion would be spent on Super Bowl XLVI (up from $8.87 billion in 2010) and companies saving a significant percentage of their yearly advertising budgets to allot for the $3.5 million they will spend on their 30-second commercial spots, to hotels in host cities increasing bringing in major profits from increased room rates, the financial impact of the Big Game is “super†indeed. Since the merger of the National Football League [NFL] and the American Football League in 1967, the Super Bowl (officially called such beginning in 1961) has emerged as not only the most watched broadcast in America each year, but also arguably the most highly anticipated sporting event in the country.
Though Indianapolis, Indiana is not new to hosting large events–being that it is the home of the largest single-day sporting event in the world, the Indianapolis 500–the city has been preparing for Super Bowl Sunday extensively and are ready to give their “Hoosier hospitality†to the influx of visitors. Reports show that since 2008, Indianapolis spent $3 billion on hospitality.
In addition to the fans with tickets to the game, on average another 50,000 people flock into host cities where the championship is being played, just to take part in the array of festivities sponsored by the NFL, the town, and other brands. Generally, the League hires 6,000 volunteers to help out with all of the local festivities associated with the event.
With the New York Giants set to face the New England Patriots this Sunday, February 5 at Lucas Oil Stadium, Super Bowl XLVI is estimated to draw in more viewers than the record-breaking average audience of 111 million viewers last year. With all the money pouring in and out of Indianapolis this weekend, BlackEnterprise.com Decodes the financial impact of the Super Bowl and what impact this yearly sporting event can have on the economy of a city.
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