BOSTON (FOX 25 / MyFoxBoston.com) – New data from a local organization suggests 116 years after its creation, Marathon Monday remains a cash cow for the Greater Boston economy.
The Greater Boston Convention and Visitor Bureau claims marathon weekend will help the local economy rake in an estimated $137.5 million. That massive sum can be attributed to the spending done by the 26,700 official runners and an estimated 500,000 spectators attending the 116th annual Boston Marathon.
The President and CEO of the GBCVB says the 26.2-mile competition is Boston’s equivalent to hosting a high-stakes collegiate basketball game.
“The spending impact of the 116th Boston Marathon is the equivalent to our region hosting the NCAA Final Four. It is a huge economic benefit for our visitor industry and it kick starts our spring tourism season,” said Patrick Moscaritolo in a press release on Wednesday.
The GBCVB released some interesting statistics about where the money is expected to come from:
- Total spending by 26,700 runners and their guests, including spending at John Hancock Sports Fitness Expo – $92.4 million
- Total spending by spectators – $12 million
- Total spending by the Boston Athletic Association – $7 million
- Charity Fundraising events by marathon runners – $16 million
- Total sponsors media Marathon-related spending – $10.1 million
TOTAL $137.5 million
The organization adds that Monday’s marathon is second only to the 1996 marathon in terms of economic impact. During that marathon, there were 38,708 runners and spending impact reached $172 million.