While the Mets may not have grabbed the World Series title, New York City came out a winner as the team's post-season performance helped generate an additional $81.2 million for the Big Apple's economy, according to a new report.
An analysis by the New York City Economic Development Corp. estimated that $11.6 million in economic activity was generated for each game held in Queens.
This figure includes ticket sales, as well as spending from the nearly 30,000 visitors who came in from outside the city for each game, and the additional earnings for seasonal employees at Citi Field. That activity stimulates both the local economy and generates additional pay for workers who spend it in the city. The Mets lost the series 4-1 to the Kansas City Royals, with the final three games played in New York.
"The impact of the New York Mets postseason run transcends baseball," NYCEDC President Maria Torres-Springer said in a press release. "Besides uniting our city in blue and orange, Mets games are providing a huge economic benefit that stimulates the local economy and provides opportunities for New Yorkers."
In total, the Major League Baseball postseason games generated a total economic impact of at least $94.2 million for New York City, the analysis found. This includes the American League Wild Card game which took place at Yankee Stadium, which generated an economic impact of $13 million.
"Big events like the World Series attract visitors who may book rooms, eat out, explore neighborhoods and go shopping," Fred Dixon, President and CEO of NYC & Co., said in the release. "But the value of hosting big events goes far beyond immediate economic impact. It adds to the city's vibrancy and appeal, and with so many eyes on New York City during the World Series, people from out of town may be reminded that a visit is long overdue and be inspired to come here months after the World Series is over."
In 2014, the city saw a record 56.4 million visitors, which generated an estimated $61 billion in overall economic impact, according to officials, which supported 362,000 jobs and $21 billion in wages.
And according to a recent report from Moody's Investors Service, the Mets' 2015 World Series appearance will likely boost home attendance in 2016, positively impacting Citi Field operating revenues to the benefit of bonds issued by New York Industrial Development Agency on behalf of Queens Ballpark Co.
