How much NBA, college basketball events boosted Charlotte's economy

CHARLOTTE, N.C. — Charlotte’s month-long run of NBA and college basketball events added $93.5 million in direct spending to the economy, according to figures released Tuesday by the city’s tourism agency. Including spinoff effects, the events contributed $167 million.

[WSOC-TV Photos: NBA All-Star Game at Spectrum Center]

Between mid-February and mid-March, Charlotte hosted the NBA All-Star Game and related weekend events, the Central Intercollegiate Athletic Association men’s and women’s tournaments, and the Atlantic Coast Conference men’s tournament. All were played at Spectrum Center in uptown except the CIAA, which was split between Spectrum and Bojangles’ Coliseum.

The NBA All-Star Game had been in Charlotte once before, in 1991 at the 24,000-seat arena on Tyvola Road. That building was demolished in 2007. The ACC men’s tournament was last here in 2008. And the CIAA has been in Charlotte since 2006 but will move to Baltimore in 2021.

Economists consistently find most convention and sporting events impact studies to be inflated. Tom Murray, CEO of the Charlotte Regional Visitors Authority, has said his tourism organization is conservative with its estimates. Murray was unavailable Tuesday afternoon for an interview, but, in a prepared statement, said, “The hospitality and tourism industry is one of the major drivers of economic benefits to the region and these figures underscore the value of the visitor economy.”

Check out a breakdown of more key figures in the CRVA's report here.

Cox Media Group