PHOENIX — The 2024 Men’s Basketball Final Four created an economic boom for the Arizona economy. According to a study from Arizona State University’s Seidman Research Institute, the Final Four generated $429 million in economic impact and created $256.9 million towards Arizona’s Gross Domestic Product (GDP).
Thank you for reading this post, don't forget to subscribe!The 2024 Men’s Basketball Final Four drew a combined 40.3 million viewers on television and 149,143 fans to Arizona the weekend of April 6-8, 2024, including 74,423 for the championship game. That number ranked as the third-highest attendance in the championship game’s existence. Not only did the event bring people into the stadium, but also ancillary events throughout Phoenix.
The four teams that participated in the Final Four, which took place at State Farm Stadium in Glendale, included the NCAA Champion Connecticut, runner-up Purdue, NC State, and Alabama, meaning many out-of-state visitors were attending the event. Seidman Research Institute surveyed 1,140 such visitors and came up to these conclusions.
- 114,894 out-of-state visitors came to Arizona solely for the Final Four
- 68,742 had tickets to the two semifinal games (Connecticut vs. Alabama and Purdue vs. NC State), spent an average of 3.9 nights, and spent $482.39 per person per day
- 37,211 came for exclusively the National Championship Game, in which Connecticut defeated Purdue 75-60, spent an average of two nights, and spent $566.69 per person per day
- 3,369 out-of-state delegates attended the National Association of Basketball Coaches Convention, held at the Final Four site each year.
“I commend the Phoenix Local Organizing Committee and its stakeholders for delivering this windfall to Arizona,” Arizona Governor Katie Hobbs said. “Mega sporting events are crucial for driving our state’s tourism sector. Basketball is the world’s game, and during the 2024 Men’s Final Four, the world’s eyes were proudly on Arizona. It not only generated revenue, it also served as a powerful advertisement for our great state.”
“This was truly a community effort, and we are grateful to the NCAA and every stakeholder who supported an incredibly successful 2024 Men’s Final Four,” said Jay Parry, CEO of the Phoenix Local Organizing Committee (PLOC), which collaborated with the NCAA to host the Final Four. “We are proud to burnish Arizona’s reputation as the nation’s No. 1 destination for mega sporting events.”
The study also found that the spending of those visitors created 3,374 job years worth of employment and contributed $153.2 million to labor income in Arizona. The study estimated that the Final Four also generated a total of $21.2 million in taxes, with the State of Arizona getting $12 million, Maricopa County $2.2 million, and the cities $7 million.
“These robust numbers are the dividends of strong community investment in major sporting events such as the Men’s Final Four,” said Tom Sadler, PLOC co-chair and President & CEO of the Arizona Sports and Tourism Authority. “State Farm Stadium once again provided a world-class stage for an event that boosted Arizona tourism, delivering on the promise made to Maricopa County voters when they approved Prop. 302.”
The Arizona Sports and Tourism Authority was established when voters approved of Prop. 302 back in November 2000. Since its passing, the state of Arizona has not only kept the Cardinals in town, but their stadium has hosted major sporting events. In addition to the 2024 Men’s Final Four, they hosted Super Bowl XLII, Super Bowl XLIX, and Super Bowl LVII.
The money generated from those tourism dollars from the Final Four will be reinvested in the Arizona community. Some of the projects include refurbishing indoor and outdoor basketball courts at historic Eastlake Park and Community Center, a longtime gathering place for Phoenix’s African-American community.
“The economic impact of the Men’s Final Four is massive, but the lasting legacy of our many community projects is just as significant,” Parry said.
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Michael McDermott covers the Arizona Diamondbacks and more for Burn City Sports. You can follow him on X via @MichaelMcDMLB
