Detroit reports $213.6 million economic impact from NFL Draft
(CBS DETROIT) — Visit Detroit and the Detroit Sports Commission on Thursday released the 2024 NFL Draft's economic impact on the city.
According to a study by Patrick Rishe, director of the Sports Business Program at Washington University in St. Louis, the city reported $213.6 million during the three-day event in April. The study analyzed spending by visiting fans and local residents and defined the local regional economy as Wayne, Oakland, and Macomb counties.
Officials said $161.3 million of the revenue came from visitors traveling to Southeast Michigan. More than 60% of the $161.3 million remained in the Detroit region as household incomes, business owners and tax revenues.
Officials also said more than $12 million was spent on minority-owned businesses.
"Visit Detroit and the Detroit Sports Commission are thrilled to announce that the record-setting 775,000 people who attended the 2024 NFL Draft generated more than $213 million in total spending for Detroit and Southeast Michigan," said Claude Molinari, president and CEO of Visit Detroit and co-chair of the Detroit Local Organizing Committee (DLOC) for the NFL Draft. "That spending went into the pockets of Detroit businesses and will help strengthen our community for years to come. I am also proud that more than 50 million people watched Detroit shine on national television, which will be critical for Michigan's long-term population and economic growth."
Officials said that 84% of Detroit hotels were occupied the day before the draft, 92% on the first day, 85% on the second day, and 74% on the last day of the draft.
More than 30% of attendees traveled more than 100 miles to Detroit. Visitors also came from all 50 states and 20 countries, some as far as Australia.
"Today's report detailing the economic benefits of the 2024 NFL Draft to our local community reaffirms the decision by the Visit Detroit, Detroit Sports Commission, Detroit Lions and the City of Detroit to bid for and host this prestigious NFL event," said Dave Beachnau, executive director of the Detroit Sports Commission. "This achievement represents the fulfillment of our mission to generate economic impact for the region and to promote the area as a premier destination for leisure travel and sporting events."