St. Petersburg Sees Significant Economic Growth from Athletic Events in 2024

St. Petersburg Reports Strong Economic Impact from Athletic Events

St. Petersburg, FL – The Visit St. Pete-Clearwater (VSPC) organization announced a remarkable economic boost from athletic events during fiscal year 2024. A total of 132 events generated a direct economic impact of $111.35 million, significantly benefiting local businesses and tourism.

Major Contributors to Economic Growth

Among the highlighted events, the WWE Royal Rumble stood out, attracting over 48,000 attendees from across the United States and 40 countries, contributing an impressive $47 million to the local economy. This event took place on January 27 at Tropicana Field, which was operational at the time.

Other significant events included the 100th anniversary of the St. Petersburg Shuffleboard Club, a unique cycling race in downtown St. Pete, yacht races at the St. Petersburg Yacht Club, a volleyball tournament at Sand Key Resort, and various college softball tournaments. The overall influx of sporting visitors reached 181,680, leading to the purchase of 177,098 hotel rooms and short-term rentals.

Tourism Sector Performance

The tourism sector has also seen a boost, generating $11.2 billion in Pinellas County during fiscal year 2024, an all-time high. Over 15.4 million visitors helped drive $6.4 billion in direct spending. Additionally, Pinellas County collected $96 million in bed taxes, exceeding a target of $95 million for the third consecutive year.

Looking Ahead

For fiscal year 2025, VSPC anticipates hosting between 125 and 130 events. However, concerns loom regarding a potential decline because of damage sustained at Tropicana Field from storms. In light of this situation, Clearwater Mayor Bruce Rector suggested that introducing beach volleyball tournaments could help fill the tourism gap left by the absence of large-scale events.

Future Developments and Economic Concerns

In April 2022, the Florida Legislature allocated $15 million to transform the former landfill site known as Toytown into a youth sports center. However, progress has stalled due to environmental issues surrounding the site.

While the economic contributions from events appear promising, some critics question the accuracy of VSPC’s claims. Concerns have been raised about possible financial conflicts of interest and the lack of independent verification for the reported data. Detractors suggest that the city’s reliance on a few large events may expose a vulnerability within the local economy.

Conclusion

The economic impact of sports in St. Petersburg underscores the importance of events in driving tourism and local revenue. As the city looks towards the next fiscal year, strategies will be essential to maintain momentum and address the challenges posed by the recent damage at Tropicana Field.