An economic impact report by the University of Tennessee estimates that Knoxville reaped more than $400,000 from its first marathon in 30 years.
The study, prepared by the university’s Retail, Hospitality and Tourism Management Department, estimates marathon participants living outside the area spent more than $255,000 in hotel stays, restaurants and transportation.
The math:
Total direct spending for the participants living outside a 50-mile radius of Knoxville was estimated at $255,483. The report used a 1.57 multiplier – provided by the Knoxville Tourism and Sports Corp. – to determine “the ripple effect” for every dollar spent, which resulted in the $401,108 total, Costello said.
For my part, I didn’t spend on anything, other than the registration fee and the gas to get to the event. Guess I’m a “bad” half marathoner.
According to a survey, 78% indicate they will “absolutely” participate in a second marathon. There’s a pretty good chance I will do so.