Charlotte businesses anticipating economic boom from the Presidents Cup
The economic impact is expected far beyond the golf course.
CHARLOTTE, N.C. (WBTV) - Players got their first practice in at Quail Hollow Club on Tuesday ahead of the Presidents Cup.
It’s a massive event with the city of Charlotte preparing to welcome players and fans from around the world.
City leaders are anticipating a major economic boost as a result.
Harry’s Grille and Tavern opened about six months ago in the Quail Corners shopping center, which is a five-minute drive from the action of the Presidents Cup.
“We’re still trying to build business throughout the neighborhood,” COO Tyler Steele said. “We’re really excited about having some new people that haven’t tried our restaurant come over.”
They’re offering specials geared toward golf fans.
People like David Davenport were already taking advantage of the close proximity on Monday, driving over after a few hours of walking the course.
“This is a win-win,” Davenport said. “It’s all about location, location, location.”
Previous events paint a picture of what this could mean for Charlotte as a whole. In a statement, a spokesperson for the Charlotte Regional Visitors Authority said:
The CRVA anticipates partnering with Presidents Cup to conduct an economic impact study post-event to capture the benefit of such a prestigious and strategic event in our community. As such, we don’t have the data to provide an estimate in advance.
The spokesperson did point to data from recent events, saying that the 2019 NBA All-Star Weekend had an estimated impact of $87.7 million, including $48.7 million in direct visitor spending.
In 2012, the Democratic National Convention had an estimated impact of $163.6 million, with $91 million of it in direct visitor spending.
“From the local businesses that are featured along the course to the companies that may have their logo or branding visible, it gives great visibility to companies in Charlotte and those thinking about making an investment decision or expansion or relocation,” Janet LaBar, president and CEO of the Charlotte Regional Business Alliance, said.
LaBar says it’s too soon to say what kind of revenue the Presidents Cup will generate, but she has an idea.
“I expect it’s going to blow the socks off of most people,” she said.
LaBar also says this tournament is a massive recruitment tool for companies and an opportunity to show off the Queen City.
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