On March 11th, the gravity of the burgeoning pandemic materialized for many as one of the pillars of modern American society – athletics – shattered in rapid succession. And now, after months of uncertainty and guarded planning, our largest sports leagues are strategizing their return in a post-COVID-19 world.
From collegiate to professional sports, the dramatic changes to the 2020 season have placed regional governments in unique positions and raised serious questions about stimulating local economic growth while projecting a return to normalcy to citizens and tourists. The economic benefits of hosting sporting events, as well as the dynamic forces in play during a pandemic, are important factors when determining the trajectory of a region’s economic recovery.
Please join REMI Managing Economic Associate Chris Judson, Economic Associate Katherine Clement, and Economic Analyst Brandon Stanaway on Wednesday, July 1st from 2:00 to 3:00 p.m. (ET) for our upcoming webinar, “Sports after COVID-19 and their Impact on State and Local Economies.”
This webinar will provide analysis and the regional outlook under different scenarios as sports return in major “hub cities” and NCAA organizations weigh spectator capacity recommendations.
Our presenters are prepared to describe the varying outcomes and strategies to implement when modeling the economic impact of sporting event venues in a COVID-19 recovery scenario and similar analysis in REMI.
For this discussion, Mr. Judson, Ms. Clement, and Mr. Stanaway will present highlights from our most current forecast and commentary on the differences in spectator capacities and their downstream economic effects. They will also discuss the regional implications and trends in industry sales and employment, labor force demands, potential government revenues and demands for services, personal income, and other economic and demographic factors associated with hosting these events.