2017 BNP Paribas Open economic impact on Coachella Valley tops $406 million
The 2017 BNP Paribas Open generated an estimated total gross economic impact on the Coachella Valley regional economy of $406,602,107, according to a study conducted by George Washington University.
This represents an increase of more than $32 million since 2014 when the last BNP Paribas Open economic impact study was conducted and the estimated total gross economic impact was $373 million. Since the 2006 study, there has been an increase of more than $187 million in economic impact.
Total gross economic impact is derived by calculating the direct ($262,323,940) and indirect and induced ($144,278,167) economic impacts and then adding them together to show the incremental spending above and beyond what would have been expected had the BNP Paribas Open not been held in the area. Direct spending includes money spent by out-of-town visitors, vendors, sponsors, and the tournament organization to a business in the region. Indirect and induced impact is the re-spending of this money by the regional businesses in the regional economy.
Tickets on sale for 2018 BNP Paribas Open
The tournament also studied the impact that the renovations to the Indian Wells Tennis Garden had on the 2017 tournament, and when this is factored into the equation, the gross economic impact rose to $466,943,364. Based on the total direct economic impact, the full-time equivalents of those employed by the event is estimated at 5,015 and 5,759 when considering the facility construction as well.
A total of 439,261 fans attended the tournament over the two-week period earlier this year. On average each person attended the tournament 3.09 days.
With 87 percent of spectators traveling from outside the region equating to 123,675 out-of-town visitors from which the economic impact is calculated.
The total fiscal impact of the BNP Paribas Open on the Coachella Valley was estimated at just over $19,000,000, generated through tax revenues for city and county governments in the form of sales tax, TOT (Transient Occupancy Tax) and property tax.
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