Phoenix Open brings in nearly $400M to Arizona’s economy, study finds
PHOENIX — Talk about a hole-in-one: This year’s Waste Management Phoenix Open brought nearly $400 million into Arizona’s economy, according to a recent Arizona State University study.
The multi-day golf tournament brought in $389 million to Arizona’s economy, the W.P. Carey School of Business study found. The study also found that the event’s economic impact increased 65.4 percent — or $222 million — compared to 2012.
According to a press release, the study tracked “economic impact as the increase in spending” and “economic vitality in a community as a result of the existence of an event.”
Nearly 100,000 non-Arizona residents — 99,887 in total — attended the tournament this year, accounting for more than 15 percent of the total attendees. Those non-Arizona residents spent an average of $393 per day, totaling $140 million.
But the attendees were not the only ones raking in the dough: Organizations associated with the tournament, like the PGA Tour, brought in $63 million in staging and attending the tournament, the press release said.
The rest of the money back from visitors and organizations’ expenditures, which spent $325 million in the state, out-of-town media expenditure, which brought in $1.2 million to the state’s economy and local tax revenues, which brought in $13 million.
Dr. Michael Mokwa, the associate director of the Sports Law and Business Program at ASU’s W.P. Carey School of Business, said in a press release that the Waste Management is an event that is known for “blending a fun atmosphere and intense competition. Plus, it is a model for creating a sustainable environment given the partnership with Waste Management.”
In a statement, Andy Markham, the chairman for the 2017 Waste Management Phoenix Open, said officials would continue to “take great pride in the positive experience we provide our patrons, and together with our corporate partners, we will continue to our best to draw people and businesses to the Valley.”
This year’s Waste Management Phoenix Open tournament did not just boost the local economy, but it raised money for charity, too. The event raised more than $10 million for charity in 2017, the organization announced earlier this month.
The 2018 Waste Management Phoenix Open will be held at TPC Scottsdale from Jan. 29 to Feb. 4, 2018, marking nine years that the event has been held.