PwC forecasts Super Bowl XLVII will be latest event to bolster economic recovery in New Orleans

NEW YORK, Jan. 28, 2013 /PRNewswire/ -- According to PwC US, the greater New Orleans area could see an approximate 25 percent increase in direct spending over last year's game as the Super Bowl returns to one of its traditional host markets.  Super Bowl XLVII is expected to generate approximately $185 million in direct spending by the National Football League (NFL), businesses, visitors, and media on area lodging, transportation, food and beverage, entertainment, business services, and other hospitality and tourism activities.  This estimate is based on a proprietary analysis that considers characteristics unique to this year's event including the participating teams, attributes of the greater New Orleans market, national economic conditions, corporate and other ancillary activities, and other factors.

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Given the mild climate, culture, attractions such as the French Quarter, recent infrastructure projects, and scheduling of Mardi Gras to coincide with the game, this year's Super Bowl is anticipated to generate a level of spending in New Orleans similar to other destination markets prior to the recession, including South Florida in 2007 and Glendale in 2008.  The following chart illustrates the estimated direct spending associated with the event dating back to 2002, the last year the game was held in New Orleans.

"New Orleans has been a regular host of national sporting events, including nine prior NFL Super Bowls, five NCAA Men's Final Four Championships, and two of the seven BCS National Championships," said Adam Jones, director, sports and tourism sector, PwC US.  "As a destination, the New Orleans market offers a unique culture and attractions that are capable of drawing visitor levels similar to other 'destination' markets such as South Florida, Glendale, Tampa, and San Diego."

Super Bowl XLVII will be the latest sporting event to infuse spending into the New Orleans economy after Hurricane Katrina.  According to PwC US, next year's host market (New York/New Jersey) should be similarly positioned to use the game to bolster economic recovery following a natural disaster.  "Event organizers will likely have a keen focus, given the circumstances created by Superstorm Sandy, to ensure Super Bowl XLVIII has a positive impact on the affected region," noted Jones.

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SOURCE PwC