Tag Archive for: Dr. Ali Dadpay

Austin Marathon Named Champion of Economic Impact for Second Year

in

Champion of Economic Impact designation stems from 2019 Austin Marathon’s $48.5 million economic impact

The Ascension Seton Austin Marathon presented by Under Armour is proud to be named a 2019 Champion of Economic Impact in Sports Tourism by Sports Destination Management. This is the second year in a row the Austin Marathon has received this designation. The Austin Marathon injected $48.5 million into the Austin economy during race weekend. That’s an $11 million (23 percent) increase from 2018. The Austin Marathon partnered with Dr. Ali Dadpay, Associate Professor of Finance at the Gupta College of Business at the University of Dallas. The 29th annual Austin Marathon, owned and produced by High Five Events, will take place on February 16, 2020.

“Austin is known as a great place to live, to visit, and now — to run a marathon,” said Austin Mayor Steve Adler. “The recognition highlights the impact the race on the economic health of the city as more runners are realizing there’s no better city in which to recover!”

The 2019 impact was an $11 million increase from 2018

Other large-market champions include 2019 NCAA Final Four, BMW Championship, and TCS New York City Marathon. Sports Destination Management is the leading publication with the largest circulation of sports event planners and tournament directors in the sports tourism market. They announced the 2019 Champions of Economic Impact in Sports Tourism in a special feature in their November/December issue. This year’s winners are responsible for contributing more than $1.2 billion to the national economy over the past year. The issue’s cover photo, taken by renowned photographer Patrick Wong, features the legendary Austin Marathon start line with the iconic Texas State Capitol in the background. 

“The Ascension Seton Austin Marathon presented by Under Armour is exactly what we have in mind when we use the term, Champion of Economic Impact,” said Mary Helen Sprecher, Managing Editor, Sports Destination Management. “The Austin Marathon generates a sizeable benefit to the City of Austin and showcases partnerships between multiple agencies, all working together to create a world-class event.”

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

Marathon Grows to $48.5 Million in Economic Impact

in

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

in

Race weekend once again proves financially beneficial for Austin economy

The 2018 Austin Marathon® injected $37.5 million into the Austin economy during race weekend. Share on X 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.