the national basketball association is not only a sport league but also an important source of income in the US economy. In this post we will know how the NBA contributes to the American economy.? Let’s look into the economic impact of Basketball in US Economy.
The NBA and job Creation
The NBA is not only a league of players, coaches and support staff, but it also creates thousands of jobs. Like stadium supervisors, broadcasting, merchandise sellers etc.
Economic impact on cities
Any city that hosts the NBA boosts its local economy. And this too especially in the regular and playoffs season of basketball.
The NBA generates revenue by hosting special events. A special event like All Star attracts viewers from all over the country. From which the local economy gets a boost such as increase in hotel bookings, restaurant income and general expenditure.
sponsorship and advertising
The National Basketball Association gets sponsorship in a very large amount. Big companies sponsor new games and players also advertise their campaigns.
Merchandising
Merchandising is an important part of economy contribution. Millions of rupees are spent on new branded products like jerseys, caps, spectators.
Broadcast Rights
Broadcast rights are also an important source of income. Channels pay huge amount for live telecast of NBA games.
International outreach and growth
Since the NBA area is a very important location, the real estate value of the surrounding areas increases and this benefits the property owner which helps the US economy.
Since the popularity of NBA is very high, broadcast rights from other countries also earn Money.
NBA generated about $8.76 billion in revenue for US economy.
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If you want to know about Evolution of Basketball click the link below.