Economic Impact of a 2012 Yankees Playoff Game
The impact analysis of a 2012 Yankees Playoff game is based on estimates provided by theNew York Yankees and NYC and Company to New York City Economic DevelopmentCorporation.
Total Economic Impact of a 2012 Yankees Playoff game on NYC is estimated to be $10.9million (in 2012 dollars).
Total Economic Impact includes both direct and indirect impacts.
A. Direct Spending in the City is $6.3 million.
Direct impact includes:
1. Impacts from 2012 Yankees Playoff game-related visitor spending ($6.1 million)
Direct tourism spending from the 35,158 Yankees Playoff game-related visitors(includes hotel, retail, transportation, entertainment, and food and drinkexpenditures).
Visitor spending derived from:
6,279 out-of-tri-state-area spectators (avg. spending of $229/day for 1 day andnight)
50 out-of-tri-state-area participants/performers (avg. spending of $330/day for 1day and night)
25 out-of-tri-state-area media personnel (avg. spending of $330/day for 1 dayand night)
28,779 spectators from within the tri-state area (avg. spending of $159/day for1 day)
25 media personnel from within the tri-state area (avg. spending of $242/dayfor 1 day)
17,367 spectators, performers, and media personnel were assumed to be NYCresidents, and were not included in the analysis.
2. Impacts from payroll expenditures for an additional game at the YankeesStadium in 2012 ($0.2 million)
$0.23 million to be spent on payroll for seasonal and contract employees at theStadium for an additional day, including security and promoters of Sports.
B. Indirect Benefits to City are $4.6 million
The direct spending estimates were used in a standard economic model, the RIMS IImodeling system, an input-output model developed by the U.S. Bureau of EconomicAnalysis to determine indirect benefits.
Indirect impact, or “the multiplier effect,” is the business that the first-level spendinggenerates for other local establishments. Further, a portion of these expenditures inturn go into the pockets of workers within both the direct and indirect industries, whouse these earnings to purchase goods and services for themselves, generating a third-level of economic impacts. All of these layers of purchasing activity are included in thetotal estimate of economic activity.
Multipliers were industry-specific according to type of direct expenditure.