24 Mar 2016 Austin Marathon and Half Marathon Economic Impact
2016 Austin Marathon and Half Marathon Contributes $25.7 Million to Austin Economy
The 2016 Austin Marathon and Half Marathon presented by NXP contributed $25.3 million to the Austin economy. The formula used to calculate the total was created by The Bill Munday School of Business at St. Edward’s University. Couple the $25.3 million contribution with the $446,000 raised by local nonprofits through the Austin Gives Miles program, which was not included in the formula, and the total economic impact on the City of Austin comes to $25,790,769.
“In 2004 I ran the Austin Marathon; now it has a nearly $26 million impact on our local economy,” said Austin Mayor Steve Adler. “I don’t think that’s a coincidence. You’re welcome, Austin.”
The formula quantified the economic benefits generated by participants of the 2016 Austin Marathon and Half Marathon, including how much money was spent on hotels, race-related souvenirs, non-race-related souvenirs and apparel, travel, entertainment, and meals. The calculations used data obtained through a post-race survey, then applied the North American Industry Classification System (NAICS) multipliers. The findings conclude that the event contributed $6.9 million in direct economic impact and another $18.4 million in indirect and induced spending to the Austin economy.
“With approximately 60 percent of the runners coming from outside the local area, the impact on the local tourism and hospitality industry is especially pronounced,” said Lance Aldridge, the Executive Director of the Austin Sports Commission. “Austin is accustomed to hosting major sporting events like University of Texas at Austin football games, Formula-1 MotoGP, and most recently, the World Golf Championships Dell Match Play. The Austin Marathon and Half Marathon consistently ranks among the best events for generating tourism dollars for the Austin economy.”
Austin Gives Miles serves nonprofit organizations in the Central Texas area through its philanthropic efforts. During the 2016 Austin Marathon and Half Marathon, more than 750 runners dedicated their training miles to one of the 25 official nonprofit organizations and raised more than $260,000. Couple that with The Moody Foundation’s generous offer to match the funds raised for each charity, up to $10,000, and the total came to $446,000.
Austin-based High Five Events recently acquired Conley Sports, including the Austin Marathon and Half Marathon, from long-time owners John and Stacey Conley. The event will remain one of the largest participatory sporting events for the City of Austin, attracting runners from all 50 states and 25 countries around the world. Showcasing Austin’s best, bettering the local community, and creating the best runner experience are High Five Events’ top priorities.
About High Five Events: Beginning with the launch of a single triathlon in 2003, High Five Events has grown to become one of the largest privately owned event production companies in the United States. In addition to the events it owns and produces, the Austin, Texas-based company offers consulting and event production services to dozens of additional events each year. High Five Events is community-centric and has more than 83 years’ experience organizing large events across different venue types in a variety of locations. Visit www.highfiveevents.com. Follow H5E on Twitter (@highfiveevents), Instagram (@highfiveevents), and Facebook (facebook.com/HighFiveEventsWorldWide/) for news and updates. Media can contact William Dyson, Communication Manager, email@example.com.