The Toronto Star reports on the financial success of UFC 129 in April. The UFC is finalizing an economic impact report on UFC 129 but the UFC believes its estimated $40 million impact is a conservative estimate.
The article points to the fact that the UFC attracted a much needed demographic to the city.
Via The Toronto Sun:
So far Toronto has been good at drawing in families but not so when it comes to younger tourists, says (Alan) Middleton (a local marketing professor), adding that this event was important in that it brought in mostly an under-30 audience.
The under 30 demographic is a valued as “the future of tourism.”
According to a credit agency, the numbers show an increase in spending in Toronto on the night of UFC 129. These numbers do not include consumers using cash.
Restaurants enjoyed a 19.2 per cent jump in dollars spent compared week-over-week. Similarly, bars and pubs experienced a 15.7 per cent increase — confirming that in addition to the 55,724 fans at the Rogers Centre, many more watched the popular event outside their home. (Toronto Sun)
Additionally, hotel occupancy rates were in the high 90s and showed a 20.3 percent increase in spending at hotels.
(H/t: robnashville)
Payout Perspective:
Its unfortunate UFC 129 did not occur last year. That way, New York could use this example as the type of economic impact the UFC has on a city. Based on this information, the event was a success for the UFC and the tourist industry in Toronto. The article does a good job in outlining the “ripple” effect a big event has for the city.
But wait, Bob Reilly said that all that money would end up going back to Vegas… SO HE LIED TO HIS FELLOW NEW YORKERS??!!! For shame, Bob, for shame…
The most hilarious part of the above article was Silvio D’Addario saying that the Rogers Centre could’ve sold 100,000 tickets if they had the capacity.
Haha! Wasn’t Dana White standing on some street corner the day before(of) the event giving away hundreds of tickets? Yeah, sure you could Silvio.