Return of BNP Paribas Open brings economic impact to entire Coachella Valley region
As tennis enthusiasts from around the world converge in Indian Wells, the entire Coachella Valley could benefit from their visits.
News Channel 3 obtained the 2022 BNP Paribas Open Economic Impact Report. The figures calculated report that the "2022 BNP Paribas Open generated an estimated total gross economic impact on the Coachella Valley regional economy of $565,084,932."
Visitors come from all over the world to watch the matches but plan to venture out to the some local attractions. "I think it's always fun to shop locally," says Cheryl Chenoweth. Chenoweth and her family flew out from Canada to enjoy the weather, and the games and to hit some of their favorite spots. "I think that's one of the things that came out of covid regardless of what communities you were in, big communities, small communities; it's your way to support the local business person, whether it's at the you know, kind of the craft function as in College of the Desert or the Street Fairs in Palm Springs."
BNP officials say since a 2014 study, "there has been an increase of more than $191 million in economic impact."
How is it calculated? The study is conducted by The George Washington University. "Total gross economic impact is derived by calculating the direct ($395,164,288) and indirect and induced ($169,920,644) 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."
Not only pop up shops at the BNP are reaping the benefits of the tournament but the entire valley is getting a piece of the Pie. " I have to say we love to stay at The Renaissance in Indian Wells," says Yvonne Kan, a visitor from Westchester, California. "Hotel cava is our place! We love that hotel. We love that restaurant." Cities in the valley are benefitting.
Special section: Check out the BNP Paribas Open coverage
In 2022, 330,794 fans were drawn to the Indian Wells event. More than nine out of ten were from outside the region.
"The total fiscal impact of the BNP Paribas Open on the Coachella Valley was estimated at just over $31,000,000, generated through tax revenues for city and county governments in the form of sales tax, TOT (Transient Occupancy Tax) or bed tax, and property tax," BNP organizers shared with News Channel 3.
You can watch our reporting from the completion of the 2022 tournament below:
In 2022, officials with the Hyatt Regency in Indians Wells told News Channel 3 that their revenue was up by 75 percent compared to the previous tournament in Oct. 2021.
The Hyatt’s director of revenue, Sean Kim, also shared at that time, “Compared to a non-pandemic 2019 tournament, we were down about 5% in revenue. This decline is mainly due to the lower occupancy, and we project the 2023 March tournament will be back to normal if not more demand than previous years.”
This month, hoteliers and business owners across the valley will find out if these predictions ring true.
MORE: BNP Paribas Open returns in full swing to Indian Wells
This year's player field is star studded and also brings in a fresh new wave of young, up and coming talent.
"You have some that have been around longer like Tsitsipas, Zverev, Medvedev. Obviously, it's sad that Rafa won't be able to be here this year due to injury. We wish him a speedy recovery. But there is so many other great names and amazing matchups going to be here." said Tournament Director Tommy Haas.
Be sure to stay with News Channel 3 for complete tournament coverage of the BNP Paribas Open.
