With thousands of spectators and runners crowding the streets from Hopkinton to Boston each Patriots Day, the Boston Marathon is clearly an economic boon for Massachusetts. But just how much? How about $137.5 million?
That’s the amount that the Greater Boston Convention Visitor Bureau estimates the annual event is worth to the Greater Boston area in 2012, when almost 27,000 runners will compete in Monday’s race, which will also draw a half-million visitors along the 27.5 mile course and beyond.
“The spending impact of the 116th Boston Marathon is the equivalent to our region hosting the NCAA Final Four, GBCVB president and CEO Patrick Moscaritolo said in a release. ” It is a huge economic benefit for our visitor industry and it kick starts our Spring tourism season.”
According to the CBCVB, the numbers break down like this:
Total spending by runners and their guests: $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 sponsorsand media marathon-related spending: $10.1 million
This year’s race is expected to be only second in economic impact and participants to the 1996, 100th anniversary running of the marathon.