DETROIT — The 2024 NFL Draft is just a few weeks away and it is expected to infuse big money into the Detroit economy.
A new study estimates that the net economic impact of the event is expected to exceed $160 million for the city.
Anderson Economic Group, LLC (AEG) estimates a direct economic impact of over $97.5 million along with an estimated $35.1 million in total expenditures of attendees after accounting for substitution.
AEG said the substitution effects would be situations like: "potential lost spending from individuals who would normally spend time downtown but might avoid the events."
The total net economic benefit is calculated with expenditures both inside and outside of the event in Detroit, including hotel stays, merchandise purchases and spending at bars and restaurants.
“Hosting the NFL draft is another exciting win for Detroit and presents invaluable opportunities for the city to showcase its culture on a national stage, once again potentially fostering long-term tourism and investment prospects,” said Tyler Theile, vice president and director of economic analysis and public policy at AEG.
The NFL draft is a free three-day event that runs from Thursday, April 25 through Saturday, April 27 in Detroit.
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