FOX5 EXPERTS: Business & economic researcher weighs in on impact of major sports events in Las Vegas
LAS VEGAS, Nev. (FOX5) - Professional sports have indeed provided a boost to the Las Vegas economy. But, as in the case of F1, is the economic benefit worth the price locals have to pay?
We turn to the director of UNLV’s Center for Business and Economic Research for answers, in this edition of FOX5 Experts.
”We estimated about $1.8 billion, and that was just last year, so we see it growing, but we also have questions, just like the public does, about, you know, how much of this can you quantify, what assumptions are being made about that impact,” said Andrew Woods, the director of the program.
“Certainly, we do think sports is helping reinforce our leisure and hospitality industry, which accounts for one-in-four jobs and one-in-three dollars generated in southern Nevada, we do believe that impact is real,” he added.
How long will it take for locals to reap the benefits of big-name sporting events, and pro teams? Watch John Huck’s full interview below.
FULL INTERVIEW
Coming soon.
Copyright 2023 KVVU. All rights reserved.
