World Cup's economic boost varies among Miami businesses
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Nearly two weeks into the World Cup, some local business owners say they've yet to see sales skyrocket despite a massive influx of visiting fans.
Why it matters: South Florida governments shelled out about $53 million to land and organize Miami's World Cup matches, expecting the local economy would see a major return on that investment via tourism and job creation.
- Some economists argued economic projections were "wildly exaggerated" and that large companies — including FIFA — would be the chief recipients of increased spending, not local businesses.
Case in point: "We're about 10% higher than where we would've been with sales [this time of year]," Theo Castillo, owner of No Seasons Brewery in Little River, told Axios.
- "Most of our business is regulars and the people that live here," he said. The tournament "has maybe mobilized them to come out more often, but we're a little further away to see that big tourist push."
Similarly, The Brightside, a neighborhood bar on Coral Way, has seen "a normal" amount of patrons aside from the U.S. games, owner Michael Radigan told Axios.
- "We probably had more people for the Knicks series," he said, referring to the NBA Finals. "We're such a neighborhood space, so we have our locals who don't want to fight traffic or be in the heat."
Yes, but: Some larger, more central spots have reaped the economic benefits of out-of-towners.
- "We've also been absolutely crazy for the last week with Scottish people," Mickey Byrne's Irish Pub owner Mark Rowe told Axios. "All the locals want to come down and join in on the fun, so it's been spectacular for business."
- Remove the Scots from the equation, though, and business has been "about the same" as previous World Cup tournaments.
- The downtown Hollywood mainstay has become a go-to place for U.S. games over the years, he said.
Zoom out: The tournament comes at the onset of Miami's slow season, and even the slightest boost in guests is welcome for local business owners.
- "Summer is always terrible, so we're very, very happy and grateful to have that extra business," Rowe said.
The bottom line: There are still a few weeks left in the tournament, and business owners, including Radigan and Castillo, foresee larger crowds for the final games.
Axios' Naomi Feinstein contributed to this report.