Not A Game Changer

Dennis Coates and Michael T. Friedman
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Michael T. Friedman: University of Maryland, College Park

No 11-134, UMBC Economics Department Working Papers from UMBC Department of Economics

Abstract: Surveys of patrons of the 2011 Baltimore Grand Prix provide evidence of the economic impact of the event that is vastly smaller than the projections by the events promoter, Baltimore Racing Development. Our best estimate of the gross spending impact of the event is about $25 million, while the promoter projected impact of $70 million. About 76% of the patrons in our sample came from Maryland, and about 64% of them from the Baltimore metropolitan area. Consequently, about $10 million of the spending we found would likely have occurred in Baltimore or Maryland even without the event. Based on our survey information, the Baltimore Grand Prix was certainly not a game changer.

Pages: 22 pages
Date: 2011-10
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Working Paper: Not A Game Changer (2011)
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