Economic Impact of Adapted Sport Events Likely Exceeds $80 Million Annually
All in Sport Consulting, in partnership with Stitch Marketing Research and Huddle Up Group, recently announced the results of a first-of-its-kind economic impact study of the adapted sport industry in the United States. The organizations collected expenditure and budget data from a sampling of U.S.-based adapted sport entities as a first step to better understand and project economic trends for the overall market. Based on the data, the report estimates that the total economic impact of adapted and para sport-related tourism events nationwide likely ranges from approximately $80.5 to $134.2 million annually.
Shot with a NIKON D500, Aperture Priority, SUNNY white balance, ISO 250, 1/2000 at f/4.5 in multi-segment metering, 0.0 EV, Nikkor VR 300mm f/2.8G IF-ED lens at 300mm, focus mode of AF-C and Picture Control set to STANDARD. Photo copyright Reed Hoffmann.
“We know the growth of the adapted sport industry has been dramatic over the last decade or so, but there’s never been a formal study conducted to measure its true economic footprint,” said Dawna Callahan, founder and chief executive officer of All In Sport Consulting. “We wanted to change that and put a stake in the ground this year to help us move from anecdotal to concrete evidence about both the current economic picture and future outlook. We’re excited to release our initial findings and build on this knowledge in the years ahead.”
To conduct the study, the organizations emailed surveys to 262 organizations between July 28 and Sept. 22, 2020. Data from 55 organizations are included in the report.
“This research was the first national look at the impact of the adapted and para sport industry, specifically the value of travel sports in this space,” said Jon Schmieder, founder and chief executive officer of Huddle Up Group. “This baseline information will help shape future research in this arena. We were proud to be part of the team that set out to tackle this very important question – what is the value of para sports in our nation?”
Study Highlights:
· The economic impact of the 30 adapted sport organizations completing the sport events section of the survey can be extrapolated at approximately $26,850,862 annually. (Basis: 2019 economic impact data via the Sports & Events Tourism Association)
· The organizations represented in the survey account for one-fifth to one-third of the total number of adapted sport organizations in the U.S. market; therefore, the total economic impact of adapted sport events can be extrapolated to a range of $80,550,000 to $134,250,000 annually.
“We’ve seen benchmark studies like this one in para sports serve as a tremendous launching pad for a variety of sectors,” said Nate Heckman, president of Stitch Marketing Research. “Without these insights – which lead to tangible goal setting and validation for investment – all involved end up guessing. We’re hoping to see these insights serve to increase cooperation and real outcomes for adapted and para sports in the U.S.”
The full report is available for download at: http://adaptedsportlabs.com/labs-2020-session-recordings/ (see “EconomicImpact of the Adapted Sport Industry” presentation).
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