Saturday, April 13, 2024

How 2024 NBA All-Star is a triple-double for Indianapolis’ economy

NBA All-Star Weekend is not just a celebration of basketball prowess; it is a necessary economic powerhouse for the hosting city. This year the NBA All-Star events are set to take place in Indianapolis. The international spectacle, happening Feb. 16-18, is expected to create a significant uptick in revenue and activity that local businesses will feel for quite some time.

Indianapolis, renowned for its basketball culture and thriving downtown, eagerly awaits the benefits of hosting this prestigious event. The last time the Circle City hosted All-Star Weekend was in 1985. Since then, the city has undergone significant development, making it an even more attractive destination for sports fans and tourists.

“It is projected that the economic impact for the NBA All-Star Game alone for our city will be $320 million,” Mayor of Indianapolis Joe Hogsett said. “We will have over 125,000 fans streaming into downtown, at least 50,000 [are] coming to us from somewhere else, representing 40 states and 29 nations.”

The projected economic impact of NBA All-Star Weekend in Indianapolis topples the revenue generated for Super Bowl XLVI, held in Indianapolis in 2012.

The offical logo for NBA All-Star 2024 in Indianapolis, February 16-18. (Photo/NBA)
The offical logo for NBA All-Star 2024 in Indianapolis, February 16-18. (Photo/NBA)

Rockport Analytics, a firm hired by the Indianapolis Super Bowl Committee, found that Super Bowl XLVI added $278 million to Indianapolis’ economy, including $176 million in payroll and $76 million in tax revenue.

All-Star Weekend is expected to bring a significant increase in foot traffic, at levels similar to Super Bowl XLVI, benefiting restaurants, bars, local businesses and retailers. Sports bars are screening many events while restaurants anticipate enjoying new clientele.

Additionally, retailers and souvenir shops are stocking up on NBA merchandise to meet the demand of fans eager to commemorate the event with memorabilia.

Beyond the immediate economic impact, hosting the NBA All-Star Weekend presents the Circle City with a unique opportunity to showcase itself on a global stage.

William Castetter, a Pacers fan who attended NBA Commissioner Adam Silver’s All-Star updates last fall, said, “people everywhere will get to see what Indianapolis is about” during All-Star Weekend.

With millions of viewers tuning in to watch the 73rd NBA All-Star Game and the dozens of events happening around the city that weekend, Indianapolis will enjoy unprecedented exposure, potentially attracting future visitors, investors and businesses.

The event has supercharged infrastructure improvements and urban revitalization projects. In anticipation of the uptick in visitors, the city has invested in upgrading transportation networks, enhancing public spaces, beautifying key areas, such as Monument Circle, and installing the Bicentennial Unity Plaza.

Recently, Indianapolis began playing full-court press defense on the overwhelming number of potholes in the city ahead of the big weekend in Indy.

“Our crews with Indy DPW are on the frontline of repairing these potholes, which is an extremely labor-intensive and tiring process,” American Federation of State, County and Municipal Employees (AFSCME) Local 725 President Steve Quick said Feb. 8.

NBA All-Star Weekend extends beyond just monetary returns. The event fosters community pride and civic engagement while promoting a sense of unity among residents. All-Star Weekend highlights Indianapolis as a deluxe terminus for major sporting events and fortifies its prestige as a dynamic and welcoming city.

The 2024 NBA All-Star Weekend in Indianapolis represents a significant economic opportunity for the city and its residents. With millions of dollars expected to flow into the local economy and a host of intangible benefits, the event promises to be a win-win for all involved.

Indianapolis is ready to shine on basketball’s biggest stage once again and Circle City could not be more excited to bestow Hoosier Hospitality upon those attending NBA All-Star Weekend.


Contact senior sports writer Noral Parham III at 317-762-7846 or via email at noralp@indyrecorder.com. Follow him on Twitter @3Noral. For more news courtesy of the Indiana Minority Business Magazine, click here.

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