As Kansas City Chief and San Francisco 49ers fans descend upon Miami, Florida this week for the Super Bowl, what they won’t see is the amount of money taxpayers spent just to host them in there city.
Miami is spending up to $20 Million of taxpayers money just to host the Super Bowl. Most economists say cities do not reap the supposed “economic benefits” that is touted in hosting the Super Bowl.
Politicians and tourism boosters tout Super Bowls as major moneymakers for South Florida’s economy. Plus, they point out, the NFL has committed to building playing fields and improving other public spaces in Miami-Dade County in connection with the 2020 event.
In the economics of hosting a Super Bowl, though, the thinking goes that you spend taxpayer money to realize an even bigger economic payoff: the dollars that visitors spend in hotels, restaurants, airports, and other local businesses.
Winning a bid to host a Super Bowl means communities are asked to subsidize expenses to the tune of millions — in the case of three of Miami-Dade’s largest municipal governments, Super Bowl 54 will cost nearly $20 million over time.
Source: Miami Herald