Written By: Alex B.
The Milwaukee Bucks have been on a tear this year in the NBA, this has been a great thing for sports fans and for Milwaukee's economy. The Bucks have been on a historic run this year making it the furthest they have sense the 2000-2001 season. This has caused a economic rise for the city of milwaukee, restaurants, hotels, shops, and ride sharing services have all been benefiting from the Bucks historic run. It has been estimated that each game is bringing in $3 million in economic impact.
The further the bucks go into their playoff run more and more money will be heading towards Milwaukee's economy. It has been estimated that if the Bucks make it to the NBA finals the city of Milwaukee could make a average of $12 million per-game. All in all Bucks basketball isn't just great for the fans right now but for Milwaukee's economy too and i'm sure both Bucks fans and the people of Milwaukee can appreciate the positive externalities created by the Bucks.
Boeder , Alex. “10 Numbers From The Series-Clinching Win.” NBA.com , 2019, www.nba.com/bucks/features/boeder-10-numbers-from-series-clinching-win.
Miston , Bill. 9 May 2019.
Yes, I agree that this NBA season the Bucks are making big bucks. Which will help Milwaukee's economy. With all of the merchandise being sold, all the tickets for home games, the concessions at games, pay for parking, etc. Also counting all of the people coming to Milwaukee maybe not to watch the bucks but the team's they play against help us too. Knowing that they aren't rooting for Milwaukee but we are still getting their money. Now let's hope that the Bucks can keep it going.
ReplyDeleteThis is truly an historic time for milwaukee and the buck. With any playoffs run there is going to be an increase in the economy but especially with the bucks having been out of the playoffs for so long there is a ton more hype surrounding the bucks and their run. It doesn’t surprise me that it’s having this kind of effect on the economy.
ReplyDeleteI agree with your statements about how the Bucks are boosting the economy. While other businesses around the Fiserv forum will see a definite increase in revenue, the money made from the stadium alone will be enough to show a beneficial change toward the economy. Whether it be merchandise stands or concessions, money can be made in a variety of areas around the arena. The Bucks will see a general increase along with Milwaukee as a whole.
ReplyDeleteThe Bucks help make money and is another outlet for income. Not only is having a sports team entertaining, but is overall beneficial for our economy. Having a sports team not only helps the sports enthusiasts, but also the factors around us that help add to the society. For example, restaurants, hotels, etc. With having a successful team leads to having a stronger and more efficient economy.
ReplyDeleteWith the integration of the bucks into the economy of Milwaukee. It truly does boost the economy of the milwaukee. Not only does it help produce provide income for hotels buses and good for nearby restaurants. It helps to fund the overall local economy. This is similar to miller park where the whole purpose of the establishment. Is to provide entertainment for sport enthusiasts. Like you have stated, if the Buck’s go into the playoffs the overall local economy will benefit from the event. The Buck’s and other major league sports teams, always bring in people who aren't local to the region and, allows them to spend money on the local businesses. These external factors are variables that help to fuel the economy in the process. So as a result of these positive externalities, the Bucks are a beneficial asset of the local economy of Milwaukee.
ReplyDeleteI agree that this NBA season the Bucks are making big bucks, too, but it would have been interesting to learn a bit about the nation's impact and even the global impact on Milwaukee's economy. The team's success has brought the attention of fans from across the world and even from other fans in the nation who's NBA team isn't having the same success. It would have been important to include that there is much more to the big boost in Milwaukee's economy than what's just going on in the state of Wisconsin.
ReplyDeleteFrom the first pick in the draft to an NBA Finals contender alone is crazy for the city of Milwaukee and overall the representation of Wisconsin. But the economic benefits have only been going up especially with all the new additions to the downtown area of Milwaukee and developing it for a more modern look. Obviously a new stadium only seems like a lot of money being spent, especially disturbing traffic but with one of the top teams in the NBA it only increases fan interest and the broadcast of games across the country. The jobs being created with the new stadium, outside operations around the stadium and overall business for Milwaukee has definitely seen an increase because of the Bucks. Especially with a player like Giannis who is internationally known and already being talked to be one of the greatest of all time at only 24 brings even more attraction and money to the area of Milwaukee.
ReplyDeleteThe Bucks are attracting wild attention right now due to their massive popularity, and this popularity has resulted in a massive surge in demand for everything Bucks related. Several years ago, before acquiring Giannis as a player, the Bucks seemed to be in a massive slump. Compared to its high admiration right now, as the #1 team in the NBA and Giannis as an MVP candidate, the prices of tickets have increased a massive amount due to a right-ward shift of their demand curve. The supply, however, is still rather limited due to the capacity limits of the stadium, though the supply was increased earlier in the season with the completion of the Fiserv Forum.
ReplyDeleteI agree that as the Bucks make it farther and farther that this will increase our economy. With the Bucks making it so far in the playoffs this gets fans really excited and makes fans want to go to games. I remember watching the game the other night and the Fiserv Forum was packed with fans. This means that most of these fans are purchasing food and merchandise, also all of these people had to by a ticket for the game, so they are all purchasing goods which is helping our economy. The tickets for the playoff games are more expensive too so this increases the revenue. Also with the big outside screen to watch the game this is bringing in even more fans and revenue. There are lots of restaurants near the stadium so these people are probably eating at these restaurants which helps these restaurants make more money. People are going to have to pay for parking and hotels if they are coming from different cities so this would also increase consumer spending. All of these reasons are helping increase our economy.
ReplyDeleteThe NBA finals in Milwaukee would be comparable to hosting the Olympics or World Cup, in terms of economic gains for a city/region/nation. There is a reason why bids for these events become so large, the lasting impacts on the economy are worth it. However, the NBA finals theoretically could be in a different city every year (besides Oakland because the Warriors), which means that if the bucks don't make it to the finals again for a few years, there will not be a lasting economic benefit in the city of Milwaukee. You will see a rise in the economy during the finals and maybe a little bit after, but if the finals are hosted in a different city the next year, the economy will shift towards that city.
ReplyDeleteI would agree that the Bucks are earning more and more economic profit due to merchandise sales, ticket sales, and sponsorships from big name brands. What I would like to know is how the playoff games are affecting the economy in both helpful and adverse ways. Sure, more and more consumers are spending on food, merchandise, and ticket sales, but I would also like to know the adverse effects of the playoffs. Maybe less money is generated by other industries other than the basketball industry as an effect of more and more people watching the playoffs after the team from their city has advanced to the next stage.
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