Sports today hold a crucial part in a nation’s development. It is a medium to earn income for most people both indirectly and directly. In Europe soccer is a crucial sport formed via various soccer leagues in Europe. Rugby is common even in Europe, the same as cricket in Asia. In the US basketball, American football and baseball form the top cream of sports entertainment to generate business. They are massive money minting machines highly responsible for yielding millions in form of taxes to authorities. Thus plays a massive role in economic development.
What is SuperBowl
Super Bowl perhaps is one of the biggest & most unique annual sporting occasions that take place in the US. It comfortably claims to become the most-watched TV broadcast in the US. It holds such a huge significance in American culture that few consider it to be an unofficial holiday. Superbowl Sunday, the day when the game gets staged, is 2nd biggest food consumption day in the US just next to Thanksgiving day. This translates to a big boost in food companies and others even. Apart from the game, which acts as the star attraction of the event. There is even co-option of numerous performances from the artists. Artists perform in the course of pre-game & half times. Their importance gets well demonstrated when the campaign of then-senator Obama bought airtime in numerous networks thirty minutes before the super bowl to advertise or promote his policies. TV channels use super bowl time for introducing various series of programs so as to attract large followings.
Importance of Superbowl hospitality
The Super Bowl, in general, is an important event with top-notch SuperBowl hospitality stretching beyond the field & beyond the mere fact that it is a famous game. For many, hosting brings forward a windfall length of opportunities. Impacts of the event span past sports to economy and culture. This has all the time been the debate’s subject from the game’s administrator to commentators & independent observers.
As per Wilson and Depken, viewership of SuperBowl is ascertained to be near to a hundred million individuals worldwide with a potential of 1 billion. This can simply rival the FIFA soccer World Cup & Olympic. Though it has not attained the status of above 2, economic impact indicates. That the event holds the probability to bless the host city with unprecedented benefits.
This is besides other benefits such as a chance to revamp their infrastructure & ameliorate their security. Economists have always dismissed the economic impact Superbowl gets on the host city. Over the years extensive research carries out to analyze the economic impact championship games are prone to bring upon the host city.
Importance of Superbowl
With the SuperBowl comes a great host of opportunities for brands that win time to promote and advertise & the ones that manufacture anything linked with the staging of events. Such are the benefits that host cities avail by staging events. Economic impact on the city can be great & careful planning might ensure netting of a high amount of revenue apart from the publicity that the city gets. Present NFL policy is to stage a Super Bowl in a city that has the NFL franchise.
There have also been various criticism that projections and figures. NFL to host cities is not on the basis of reality. The purpose of the paper is to shed some light on the entire issue of the economic impact of the host city of the Super Bowl. This specific research will seek to decide the economic impact that the host city gets.
Background of the Game
Football for a long time play in the United States similar to other sports such as baseball. Expertise in football in the US started in 1920. Superbowl premier event of the game – SuperBowl championship – however, is young, which play in 1967 for the first time. Since then this event has attained an elevation to one of the traditions of the valued sport in the history of sports.
The Super Bowl play annually to decide the champion of the National Football League. Winners from American Football conference games & National football conference face one another in the run-up to the National football playoffs.
A merger agreement between the National football league & the American football league saw the formation of the Super Bowl. The NFL has an extremely long history that dates back to the 1920s while AFL began gaining dominance in the 1960s. As an outcome, there was an intense rivalry between the 2 leagues in regard to players, fans & control of the game. To forgo financial damage, 2 rivals decided to communicate in 1966, which led to a subsequent merger. Since then the game has turned out to be a national pastime activity with popularity rivalled by some events in the US.
