REPOST: Sport tourism: $5.47M economic impact

Apparently, sports is no longer just a cultural or recreational aspect of life. It is a booming industry that has helped stimulate local economies and put several athletes into lists of the world’s richest people. And for tourism, it is an important revenue earner. Take a look at this report from Times Daily:

The Ole Miss team of John Thigpen, left, and Parker Davidson, right, display the fish they caught Friday. The team finished in ninth place. [ALLISON CARTER/TIMESDAILY]
FLORENCE — Sporting events are a vital aspect of the area’s tourism economy, and the impact just keeps growing each year.

If there was any doubt of the role sports tourism plays, consider this: The National Association of Sports Commission reports visitor spending associated with sports events in North America was $10.47 billion in 2016.

The local numbers are impressive as well with a $5.47 million economic impact to the Shoals via sport tourism in 2017.

That figure represents a $400,000 increase over 2016, according to Suzie Shoemaker, manager of sport/event sales for Florence Tourism.

“The bulk of this impact is from fishing with longer tournaments meaning longer stays in the area,” Shoemaker said. “We had some back-to-back tournaments which helped as well.”

She said the goal for next year is a 20 percent increase. Plans are in place to see that come to fruition.

The addition of another college bass tournament in April, the Bass Master College Series Southern Tour Event, should help. It’s a three-day tournament.

Florence Tourism Board Chairman David Muhlendorf said there’s no question fishing is a major component to the success of sport tourism locally. Holding tournaments in the cooler months is the goal.

“Our focus is to try to create events that will allow our hoteliers to fill rooms at times when travel is down,” he said, adding that next weekend’s Winter Blues catfishing tournament on Wheeler Lake is one such event.

Shoemaker said the challenge to bring in a wider variety of sporting venues is a priority.

Currently, the area predominantly relies on fishing, baseball, basketball, softball and disc golf. In recent years the Renaissance Man Triathlon has been a growing attraction as well. It brings people to the area for at least two days.

“We’re working on getting other sporting events for the future,” Shoemaker said, adding there’s special emphasis on girls’ sports.

As for how the economic impact is determined, Shoemaker said surveying participants reveals a true picture of time and money spent in Lauderdale County.

“We ask very particular questions of tournament participants, detailing how much money they spend in the various areas of tourism while they’re here,” she said.

Muhlendorf said widening the diversity of activities in the area will be key to making northwest Alabama attractive to visitors.

World’s most profitable sports events in history

Image source: mirror.co.uk

 

Not all sports are created equal and some of the most popular tournaments in the world offer more than just entertainment and cultural pride, but also massive economic benefits to both their participants and organizers. This is true especially when it comes to the biggest and highly phenomenal sporting events today.

Here are some of the most expensive and extremely profitable sporting events in history and what made them stand out from the rest.

  1. World Series

The World Series is Major League Baseball’s (MLB) 100-year old showpiece series, featuring the biggest baseball teams across the United States. It was in 2016 when they recorded their most memorable, and not to mention profitable game yet: Chicago Cubs defeated Cleveland Indians and won the series championship – an epic comeback after their century-long drought without a World Series title.

  1. UEFA European Championships

The event was founded in the 1960s with just four teams and it has expanded in terms of scale and profit in the last 50 years. The Euro 2016 was held in France and it was the biggest tournament to date, with 24 nations participating. Portugal holds the current championship title.

  1. FIFA World Cup

The international football (soccer) scene is one of the most globally renowned, with the last tournament boasting 700 million in audience population. FIFA’s highly commercial operations make it one of the most expensive sports events in the world both in terms of rewards and revenues.

  1. UEFA Champions League

Most sports analysts and investors know that UEFA Champions League—another major football event—is where the money is made, boasting millions to billions worth of prizes. Many superstars are present in every UEFA Champions League tournament and we’re talking about the most expensive players in the world of football: Manuel Neuer, Daniel Carvajal, Diego Godín, Lionel Messi, Cristiano Ronaldo, and a lot more.

REPOST: Eight Decks, a Helipad and an Underwater Observatory: World’s Largest Sailing Yacht Docks in Israel

Yachts have long been a symbol of luxury and opulence, with many tycoons and the biggest celebrities seeing them as staple asset. But where exactly on the planet is the biggest and most expensive one sailing? HAARETZ has the answer:

Russian oligarch’s 144-meter mega-yacht, designed by Phillippe Starck, cost 360 million pounds

Residents of the Haifa Bay area thought they were used to luxury cruise ships and yachts docking in their city’s port. But last weekend such sightings reached a new level with the arrival of the world’s largest and most expensive sailing yacht on Friday. On Monday the ship made its way to Tel Aviv.

The exterior of the stunning ship was designed by the world-famous designer Phillippe Starck. The yacht has eight decks, a helicopter pad and its own underwater observatory in the keel.

The world’s largest sailing yacht in the Mediterranean Sea off Tel Aviv’s coast on Nov. 28, 2017. | Credit: Tomer Appelbaum
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The world’s largest sailing yacht in the Mediterranean Sea off Tel Aviv’s coast on Nov. 28, 2017. | Credit: Tomer Appelbaum
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The world’s largest sailing yacht in the Mediterranean Sea off Tel Aviv’s coast on Nov. 28, 2017. | Credit: Tomer Appelbaum
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“Sailing Yacht A,” as the yacht is known – is owned by billionaire Russian oligarch Andrey Igorevich Melnichenko, who Forbes called the 89th wealthiest person in the world in 2017 with a personal fortune of $13.2 billion. He also owns another of the world’s largest and most expensive yachts: “Motor Yacht A.” The name “A” for both the ships is reportedly for the purpose of having them appear first on the shipping register lists.

The sailing yacht is 144 meters long (35 meters longer than the second largest). It was built in the Kiel, Germany at an estimated price of 360 million pounds sterling. It was reportedly delivered to Melnichenko in May this year, after being launched two years earlier.