Houston scores in a big way
Assessing the impact of the Super Bowl on the host city’s economyis always difficult, but I’m keeping a close eye onthe retail sector as potentially one of the biggest beneficiaries.
Hotels, restaurants and bars will be at capacity as fans and corporate sponsors flock to the best that the city has to offer in the days leading up to Super Bowl LI at NRGS ta di um. People who visit a city for a major event also tend to shop, which should provide a boost to retailers during the traditionally slower period that follows the holiday shopping season.
The city hosting themost recent Super Bowl, San Francisco (actually Santa Clara), calculated that the big game pumped $240 million into the region’s economy.
Think about that for a minute: a single gameand a week’s worth of Super Bowl events, parties and activities generated nine figures for the San Francisco Bay Area economy. That figure or anything remotely close to it will be good news for a Houston economy that has taken a few hits over the past few years.
What’ s more, hosting the nation’s single biggest annual sporting event will position Houston to attract other significant events and major conventions in the future.
But the retail sector in particular, thanks to an array of public works and other projects designed to ensure our community puts its best face forward, could also benefit for years to come.
Another interesting dynamic to add to the equation is the growing residential population flowing into downtown. Long after the gameis over, the retail segment can count on an emerging residential population to keep the momentum going in a positive direction.
So no matter how you calculate the economic impact of the Super Bowl, it’s important to recognize that the city has made significant investments in development and infrastructure, and we’ll see the dividends from those investments for many months and years to come.
The bigga me could well be Houston’s golden ticket for everyone — especially the retail sector. Now, who’ s ready for some football?