According to this article by the Las Vegas Review Journal, World Series cities spend just as much money accommodating the World Series as it makes. So, especially for losing cities, that's both a baseball loss and a financial loss.
The Giants emerge victorious in the 2014 World Series! To add an insight to the influence of this win, here is an article discussing the economic impact of this win. According to the article, "During two World Series games in October 2012, baseball fans added at least $17.3 million to the local economy," as estimates by the San Francisco Travel Association. Between merchandise, tickets, increases public transportation usage, and other heightened activity due to the world series, I can imagine the huge influx of money into the economy of teams' home cities. What I wonder is how much money do cities lose, especially losing cities?
In what other way do cities benefit or lose when sending a team to the World Series?
How do you think this win is going to affect SF's economy this year?
7 comments:
I feel like the damages caused by rioting and general unruliness will be more or less compensated for with the influx revenue caused by the business generated by the parade and celebration. The Giants will get to get to raise the prices of tickets more (gdi) as well as the new gear and memorabilia boosting their overall taxable revenue which will in turn benefit the cities economy in the long run. Since their now being recognized as a dynasty team, those effects will become more permanent and lasting, as better players will want to sign on for championship runs every other year, perpetuating the teams sucess.
The Giants winning the World Series is most definitely going to help the city of San Francisco. The cost of the parade along with all the security and clean up will be well compensated for by the influx of fans going to watch. The 2012 parade had a turn out of over one million people! Fans going to the 2014 Parade will be spending plenty of money towards the local economy. Winning the World Series also gives the City name recognition around the country and even world. This recognition will lead to more people traveling to the City. Overall San Francisco is better off with the Giants winning the World Series than not being in the World Series at all.
I know, I'm incredibly biased here...but despite the economic advantages, winning the world series is not an excuse to treat the city like crap. Riots in the streets? Setting trash on fire? C'mon. At least it's not as bad as 2012, when some "fans" decided to trash a Muni bus, but this is ridiculous. It's one thing to be excited about your team, but actions like these are ridiculous. I know that most Giants fans aren't like this, but nonetheless people need to realize that this happened, and it's a problem.
Here's the violence from last night: http://www.nbcbayarea.com/news/local/One-Person-Shot-As-World-Series-Celebrations-Take-Over-San-Francisco-280882882.html
And from 2012:
http://sports.yahoo.com/blogs/big-league-stew/san-francisco-police-seek-identify-man-triggered-burning-203448778--mlb.html
Matt, I think that the people creating chaos are just using the world series win as cover. Normal people don't think "OMG, I'm so excited we won! I'm going to go smash stuff now!" The people causing damage are only looking for an excuse to go wild, and the world series win gave them one.
I think the overall economic benefits for the winning home city are worth participating in the World Series. San Francisco receives millions of dollars toward the local economy while also gaining more recognition in the baseball world and even a national hotspot to visit (more so than before), being the home of the now dynasty Giants team. General baseball fans might even attend more Giants games in the future, especially in 2016, in hopes that the team will continue the trend of even year wins. There have been events of disorder and destruction towards city property, but those are more of the extremities and are unlikely to consume all the funds earned from the Giants' win. Although the overall SF economy might benefit from the World Series win, the distribution of the money seems pretty disproportionate. The baseball industry mainly gets the revenue, as fans buy their shirts and food and tickets, while local shops make little to no money if they aren't nearby the ballpark or don't show obvious support for the team.
I think that the winning of a World Series can be very beneficial for the victorious city. As Karen said, the cost of repairs due to unruly celebrations is insignificant compared to the revenue the city brings in. More buzz will be generated around the Giants organization as they begin their next season, resulting in man increased amount of people coming to the city to watch the game. Additionally, the World Series parade brings approximately 1 million people into the city. This influx results in increased activity at San Franciscan restaurants and shops, and is beneficial for the overall economy of the city.
The Giants playing in the World Series positively benefited San Francisco's economy. I mean look around, how much brand new Giant's gear do you see walking from class to class? A lot. The amount of profits made by merchandise alone is huge, in addition to ticket sales and an increase in public transit, all the money made by local bars and restaurants has had a greatly positive effect on Bay Area economies. As the Giants continue to win, their brand is getting more well known which will not only help the teams success and profits, but also the city itself as it will see a boost of money as San Francisco gets more popular and hip.
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