2024 NFL Draft Brings Detroit $213.6 Million in Estimated Economic Impact
More than $106 million is being retained long-term within the Detroit region
Posted On: July 11, 2024 By :The 2024 NFL Draft generated an estimated $213.6 million economic impact for the city of Detroit and region, including $161.3 million from visitors coming to Southeast Michigan, according to Visit Detroit and the Detroit Sports Commission.
The study of the 2024 NFL Draft was developed by Dr. Patrick Rishe, director of the Sports Business Program at Washington University in St. Louis. It analyzed spending levels by both visiting fans and locals, as well as the NFL. The reported numbers was a jump from the 2023 NFL Draft hosted in Kansas City, which created $130 million in estimated economic impact.
“That spending went into the pockets of Detroit businesses and will help strengthen our community for years to come,” said Claude Molinari, president and chief executive officer of Visit Detroit and co-chair of the Detroit Local Organizing Committee for the NFL Draft. “I am also proud that more than 50 million people watched Detroit shine on national television, which will be critical for Michigan’s long-term population and economic growth.”
Of the $161.3 million in gross economic impact, $106.4 million is retained long-term within the Detroit region as new income for households, business proprietors and tax revenues. Hotel occupancy rates in Detroit hit a high of 92% on Friday, April 25.
“Today’s report detailing the economic benefits of the 2024 NFL Draft to our local community reaffirms the decision by the Visit Detroit, Detroit Sports Commission, Detroit Lions and the city of Detroit to bid for and host this prestigious NFL event,” said Dave Beachnau, executive director of the Detroit Sports Commission. “This achievement represents the fulfillment of our mission to generate economic impact for the region and to promote the area as a premier destination for leisure travel and sporting events.”
The Detroit Sports Commission’s Living Legacy Initiative helped distribute $1.5 million in grants to local non-profit organizations. The report also showed that 30.2% of all attendees traveled more than 100 miles to attend the 2024 NFL Draft in Detroit.
In addition to the attendance and economic numbers, the 2024 NFL Draft highlighted Detroit’s community with activations and partnerships representative of the local cultures. The NFL spent $12.1 million on local minority-owned businesses, while Black-owned businesses secured 34 contracts to work directly with the NFL, totaling nearly 40% of local contracts.
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