Day one of the NFL draft saw record attendance of more than 275,000 fans in downtown Detroit
EAST LANSING, Mich. – The net economic impact of the 2024 NFL draft in downtown Detroit is expected to exceed $165 million, according to updated analysis from economic consulting firm Anderson Economic Group, LLC following record attendance of more than 275,000 unique visitors in downtown Detroit over three days.
AEG found that the draft will have a direct economic impact of $100,146,418 on Detroit, with an estimated $37,746,418 in total expenditures of attendees, after accounting for substitution.
To complete this analysis, AEG followed a methodology that considers both direct investment and spending that will generate economic impact, and indirect economic activity. They also consider the substitution effects that occur, such as spending that leaves the area, and potential lost spending from individuals who would normally spend time downtown but might avoid the events. The total includes both expenditures inside and outside of the event in Detroit, including hotel stays, spending at restaurants and bars, and merchandise purchases. The NFL draft was a three-day, free event in downtown Detroit, making it more accessible to fans, however the free nature of the even removes the impact of ticket revenue.
“When we approach economic impact analysis, we carefully consider each dollar that is going to be invested or spent due to the event. We also carefully consider the power of that dollar in the region and industry of study as it is re-spent,” said Tyler Theile, chief operating officer and director of economic analysis at AEG.
“The record number of attendees at the NFL draft in Detroit creates additional economic impact, and our original attendance estimate was within 10 percent of actual turnout,” said Theile. “Hosting the NFL draft was an exciting win for Detroit and presented invaluable opportunities for the city to showcase its culture on a national stage, fostering long-term tourism and investment prospects.”
Additional commentary and data from AEG is available upon request.
MBN caught up with Tyler in weeks leading up to the draft with a pair of interviews. Check them out below:
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About Anderson Economic Group
Founded in 1996, Anderson Economic Group works with public, private, and non-profit organizations, specializing in economic impact, business valuation, expert testimony, and public policy. Anderson Economic Group has assisted governments, universities, corporations, and businesses across the U.S. and abroad. All of the firm’s work is grounded in the core values of professionalism, integrity, and expertise. Anderson Economic Group has offices in East Lansing, Michigan and Chicago, Illinois. For more information or to speak with one of our experts, visit andersoneconomicgroup.com.
