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Fans are excited over the Toronto Raptors’ NBA Finals run.

Raptors run a golden opportunity for long-term economic boost

Assistant Professor Hannah Holmes weighs in on how the Raptors' NBA Finals run could contribute to local economies.

Jun 07, 2019

From the article:

The boost around game spending will be felt more broadly, said Hannah Holmes, assistant professor of economics at McMaster University in Hamilton, Ont.

“You’re going to see sales at bars go up, you’re going to see hotel room bookings increase, people coming in from out of town. You’re going to see increased revenue for transportation.”

However, the increased spending isn’t necessarily boosting the overall economy, since the money is often being diverted from other local spending.

“Money that may have been spent elsewhere like going to the movies or something like that, now’s being redirected. So it’s not new spending,” said Holmes.

“Where you make money is when you have new money coming in, when you get tourists coming in and spending money, that’s an injection into local economies.”

 

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