College sports generated millions for Charlotte in 2023
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15,196 people attended the inaugural Ally Tipoff last fall. Photo: Ashley Mahoney/Axios
Sports continue to pump millions into Charlotte's economy, with the Charlotte Sports Foundation's five 2023 events providing $79.7 million in economic impact, per data from CSF and Charlotte Regional Visitors Authority.
Why it matters: These events draw people to Uptown where they stay in Charlotte hotels and eat at the city's restaurants. These games also put a national spotlight on Charlotte.
Context: The five events organized by CSF are the Duke's Mayo Classic, the ACC football championship and the Duke's Mayo Bowl at Bank of America Stadium, as well as the Ally Tipoff and Jumpman Invitational at Spectrum Center.
By the numbers: The events drew 216,509 fans who booked 70,500 hotel rooms, per CSF. The events produced $42.9 million in direct spending.
- The biggest difference for 2023 events was charitable giving more than doubling from $850,000 to $2.7 million.
The big picture: Leisure spending — driven by entertainment and sporting events — has helped buoy Charlotte's hospitality economy at a time when business travel is still playing catch-up after the pandemic, industry leaders have said.
What they're saying: "Sporting events are a significant contributor to the region's $7.3 billion visitor economy, with a large portion of the annual hotel room nights booked by the CRVA attributable to that market segment," CRVA CEO Steve Bagwell said in a statement.
- The events aren't just great for visitors, they're perks for people who live in the area, Danny Morrison, executive director of CSF, said in a statement.
The bottom line: "The results speak for themselves," Bagwell said.
What's next: CSF is adding new events in 2024, like the Meck Mile presented by Albemarle over Memorial Day weekend, and expanding on existing ones, like the Ally Tipoff.
- This year's Ally Tipoff will be a doubleheader instead of one game. It will include national champions South Carolina, runner-up Iowa, N.C. State (another Final Four team) and Virginia Tech.
- The Duke's Mayo Classic features Tennessee and N.C. State.
- The teams heading to Charlotte are subject to the results of the upcoming season for the ACC football championship and the Duke's Mayo Bowl.