Tag Archive for: City of Austin

Marathon Grows to $48.5 Million in Economic Impact

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Austin Marathon’s contributions to Austin’s economy in 2019 experienced major jump 

Runners traveled from all 50 states ad 38 countries to participate in the 2019 Austin Marathon, which contributed $48.5 million to the Austin economy.

Runners traveled from all 50 states and 38 countries to participate in the 2019 Austin Marathon.

High Five Events proudly announces that the 2019 Ascension Seton Austin Marathon presented by Under Armour pumped $48.5 million into the Austin economy during race weekend. The Austin Marathon was able to better calculate its economic impact by providing more detailed data and continuing its partnership with Dr. Ali Dadpay, Associate Professor of Finance at the Gupta College of Business at the University of Dallas. This year’s economic impact on the City of Austin is an $11 million (23 percent) increase from the 2018 event. The growth of Austin’s flagship running event continues to benefit Austin and the Austin economy.

“The Austin Marathon’s economic impact is growing because of the increasing participation rate and more spectators supporting the event,” said Dr. Dadpay. “High Five Events collecting a wider array of quality data has improved the accuracy of our estimations.”

Analyzing the data

For the third year in a row, Dr. Ali Dadpay conducted the research for the Austin Marathon economic impact report. Dr. Dadpay reviewed participants’ survey data, tax revenue, High Five Events’ localized spending, and jobs created. Additional data points were reviewed, including money raised for Austin Gives Miles, participants’ spending, and hotel room nights. This data allowed him to measure direct, indirect and induced effects. Dr. Dadpay expects the Austin Marathon’s economic impact to continue to grow with the increase of out-of-state and overseas participants. 

“The 2019 economic impact report highlights the ever-increasing, annual financial impact the Austin Marathon has on the Austin economy,” said Stacy Keese, co-owner of High Five Events. “The continued growth of Austin’s flagship running event furthers the belief that Austin is a destination for runners from around the world.”

2020 will mark the Austin Marathon’s 29th year running in the capital of Texas. Austin’s flagship running event annually attracts runners from all 50 states and 30+ countries around the world. The start and finish locations are just a few blocks apart and within walking distance of many downtown hotels and restaurants. Participants finish in front of the picturesque Texas State Capitol, making the Austin Marathon the perfect running weekend destination. Registration is still open on the Austin Marathon website.

2018 Austin Marathon Contributes $37.5 Million to Austin Economy

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Race weekend once again proves financially beneficial for Austin economy

[bctt tweet=”The 2018 Austin Marathon® injected $37.5 million into the Austin economy during race weekend.” username=”austinmarathon”] The Austin Marathon was able to better calculate its economic impact by utilizing the faculty expertise at St. Edward’s University’s Bill Munday School of Business for the second year in a row. This year’s economic impact on the City of Austin is a $3.1 million (8 percent) increase from the 2017 event.

“The increase of this year’s economic impact report highlights the growth of Austin’s flagship running event, the ever-increasing financial impact it has on the city, and the belief that Austin is a destination for runners from around the world,” said Stacy Keese, co-owner of High Five Events.

An ever-growing partnership

Dr. Ali Dadpay conducted the research for the 2018 Austin Marathon economic impact report. He is a professor of Economics for The Bill Munday School of Business. This year, Dr. Dadpay also looked at High Five Events’ localized spending, volunteer contributions, and jobs created, to measure the direct, indirect and induced economic impact. Dr. Dadpay expects the Austin Marathon’s economic impact to continue growing with the increase of out-of-state and overseas participants and the addition of new routes and new airlines at Austin Bergstrom International Airport.

“The Austin Marathon is becoming a driver of sustainable development in Austin’s metropolitan area and we can see its continuity is paying dividends for our economy,” said Dr. Dadpay. “The Austin Marathon’s economic impact is widespread, benefiting the tourism and hospitality industries the most.”

In 2019, High Five Events and St. Edward’s will work to better understand spectator contributions, the value generated by social media, digital marketing, and digital brand recognition. This is an understudied aspect of such events. Other cities are looking into ways to measure the true impact of marathon events. The Austin Marathon is excited about the continued growth of their partnership with St. Edward’s University.