PHOENIX – In a big win for Arizona’s economy, the 2024 NCAA Men’s Final Four generated $429 million in economic impact, according to a study by Arizona State University’s Seidman Research Institute.
The event also created $256.9 million for Arizona’s Gross Domestic Product (GDP), the study found.
“I commend the Phoenix Local Organizing Committee and its stakeholders for delivering this windfall to Arizona,” Arizona Governor Katie Hobbs said. “Mega sporting events are crucial for driving our state’s tourism sector. Basketball is the world’s game, and during the 2024 Men’s Final Four, the world’s eyes were proudly on Arizona. It not only generated revenue, it also served as a powerful advertisement for our great state.”
To measure the impact of Valley’s second Men’s Final Four, researchers conducted face-to-face surveys with 1,140 out-of-state visitors who came to Arizona for Men’s Final Four games on April 6 and April 8, 2024 at State Farm Stadium in Glendale. The UConn Huskies claimed their second consecutive national championship, prevailing over a field that included Purdue, Alabama and North Carolina State.
The survey measured only new dollars that flowed into the state due to the Men’s Final Four. The study estimated that 114,984 out-of-state visitors came to Arizona primarily for the Men’s Final Four.
- 68,742 of these visitors had tickets to at least the semifinal games on April 6; they stayed 3.9 nights on average and spent an average of $482.39 per person per day.
- 37,211 visitors came to the Valley exclusively for the national championship game on April 8; these visitors stayed in the Phoenix area for 2 nights and spent an average of $566.69 per person per day.
- Ticketholders were accompanied by 5,662 friends and family without game tickets who spent an average of $441.37 per person per day – evidence of the Valley’s strength as a springtime tourism destination.
- 3,369 out-of-state delegates attended the National Association of Basketball Coaches Convention, which is held at the Men’s Final Four site each year.
“This was truly a community effort, and we are grateful to the NCAA and every stakeholder who supported an incredibly successful 2024 Men’s Final Four,” said Jay Parry, CEO of the Phoenix Local Organizing Committee (PLOC), which collaborated with the NCAA to host the Men’s Final Four and its myriad ancillary events. “We are proud to burnish Arizona’s reputation as the nation’s No. 1 destination for mega sporting events.”
The study found that spending by Men’s Final Four visitors created 3,374 job years employment and contributed $153.2 million to labor income in Arizona. The study conservatively estimated that Men’s Final Four also directly generated a total of $21.2 million in taxes for the State of Arizona ($12 million), Maricopa County ($2.2 million) and cities ($7 million).
“These robust numbers are the dividends of strong community investment in major sporting events such as the Men’s Final Four,” said Tom Sadler, PLOC co-chair and President & CEO of the Arizona Sports and Tourism Authority. “State Farm Stadium once again provided a world-class stage for an event that boosted Arizona tourism, delivering on the promise made to Maricopa County voters when they approved Prop. 302.”
The Men’s Final Four games were televised worldwide, attracting a combined total of 40.3 million viewers. And the 2,100 credentialed media created millions of impressions of Arizona and transmitted them around the world. The three games drew a combined 149,143 fans to State Farm Stadium. The championship game between UConn and Purdue drew 74,423, the third-highest attendance in the game’s history.
Ancillary events in downtown Phoenix and at State Farm Stadium also drew big crowds:
- 67,451 music lovers attended the free three-day NCAA March Madness Music Festival at Hance Park
- 52,283 fans experienced the NCAA Men’s Final Four Fan Fest presented by Capital One at Phoenix Convention Center
- 10,983 fans attended the free Reese’s Final Four Friday at State Farm Stadium
- 3,000 youth dribbled basketballs through the streets of downtown Phoenix in the free Men’s Final Four Dribble presented by Buick
Along with generating massive tourism dollars, the PLOC undertook projects that would impact the state long after the national champion Huskies cut down the nets.
“The economic impact of the Men’s Final Four is massive, but the lasting legacy of our many community projects is just as significant,” Parry said.
The PLOC partnered with the NCAA, the City of Phoenix and Degree Deodorant to refurbish indoor and outdoor basketball courts at historic Eastlake Park and Community Center, a longtime gathering place for Phoenix’s African-American Community.
“Hosting the Men’s Final Four was a tremendous slam dunk for Phoenix, as we proudly welcomed the third highest attended event in its history,” Phoenix Mayor Kate Gallego said. “The influx of visitors significantly boosted our local economy, benefiting businesses, cultural institutions, and hotels across the city. I am extremely grateful to our dedicated Local Organizing Committee and the City of Phoenix staff for their outstanding efforts in showcasing our growing, glowing city and ensuring the event’s success from start to finish.”
Another initiative was the free Read to the Final Four contest, supported by the NCAA, PLOC and Helios Education Foundation. Over 16,000 Arizona third graders read for a combined 20,154,704 minutes – and organizers hope the contest instilled a lifelong love of reading.
Mary C. O’Brien Elementary School in Casa Grande repeated as statewide reading champion after winning in 2017. CTA Freedom Campus in Gilbert was runner-up, Amberlea Elementary School in Phoenix finished third and Paseo Pointe Dual Language Academy in Laveen finished fourth. Third graders from the Final Four schools in the competition were celebrated in a rally on Friday at Men’s Final Four Fan Fest presented by Capital One. The Read to the Final Four contest awarded $10,000 to the winning school and $5,000 to each of the three runner-up schools for reading, literacy, or library programs.