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The 2012 PGA Championship at Kiawah Island Golf Resort will generate a total
economic impact of $193 million for Charleston and the state, according to
the PGA and the College of Charleston.
Still more than a year away from the August 2012 event, the golf tournament
already has exceeded previous economic predictions by $8 million due to
sales to date.
Forecast as the largest sporting and social event ever to descend on South
Carolina, with 210,000 spectators, the 2012 PGA Championship is developing
into the most-demanded ticket in PGA history.
"Only 6 percent of tickets and 23 percent of corporate hospitality options
remain," said Brett Sterba, tournament director.
"Excitement for the tournament is evident as the championship has set and
broken five single-day ticket records, with the largest-grossing day nearly
tripling the sales record on file," he said.
The tournament is expected to attract an estimated 50,278 out-of-town
visitors with their total spending impact projected to reach more than $92
million.
The economic impact from the influx of visitors on local businesses will
produce $26 million in labor income and support 832 jobs, according to an
analysis by the College of Charleston.
In addition to the impact of direct spending, the 2012 PGA Championship will
generate more than $75 million in media exposure, according to PGA
estimates. The 154 hours of television coverage is expected to be viewed in
580 million households in more than 200 countries.
More info
For more information on the 2012 PGA Championship, call 768-6003, email
2012pga@pgahq.com, visit www.pga2012.com, Facebook (2012 PGA Championship –
The Ocean Course) or Twitter (@2012PGA).
Where the money will come from
A breakdown of the $193 million:
•$92 million will come from direct spending impact from visitors.
•$26 million impact in labor income, which supports 832 jobs.
•$75 million in estimated media exposure is expected to come from more than
154 hours of television coverage, including media outlets such as CBS, TNT
and Golf Channel.
•Additional facts:
•$4.1 million in estimated local accommodations, restaurant, sales and
admissions tax.
•210,000 spectators expected to attend, which is larger than the population
of any city in South Carolina.
•60 percent of ticket sales have come from attendees 50-plus miles outside
of Charleston.
The tournament will become the highest-profile sporting event held in South
Carolina since the 1991 Ryder Cup, also at Kiawah.
"The 2012 PGA Championship at Kiawah Island offers us a tremendous
opportunity to showcase the Charleston region not only as a great place to
visit, but as an international destination for business and talent," said
David Ginn, president and CEO of the Charleston Regional Development
Alliance.
"With viewers and visitors from around the globe experiencing our dynamic
community, the tournament will have lasting impacts beyond the immediate
dollars and cents," Ginn added. "We can't even begin to measure the value of
the positive impressions it will create."
The unprecedented coverage the state will receive makes the 2012 PGA
Championship the marquee tourism event of the year, according to PGA
officials.
"In addition to general spectators, the championship will bring top-level
corporate sponsors to the state, which enhances the economic development
climate," said Roger Warren, 2012 PGA Championship chairman and president of
Kiawah Island Golf Resort.
In order to estimate the economic impact of the tournament on Kiawah Island,
the College of Charleston's Office of Tourism Analysis used equivalent data
for similar events in combination with current sales information from the
PGA office.
Bing Pan and Frank Hefner from the college subtotaled the direct and
indirect effect of the tournament on Charleston and the state. They also
looked at how the impact will change employment rates and labor income.
"An average Charleston guest spends roughly $183 per day in Charleston. In
comparison, a PGA Championship visitor is expected to spend an average of
$345 a day," said Alan Shao, dean of the College of Charleston Business
School.
"But this money won't just stay in Charleston; there will be a ripple
effect. South Carolina will be a huge beneficiary of the 2012 PGA
Championship's economic impact."
For more information on the 2012 PGA Championship, call 843-768-6003, email
2012pga@pgahq.com, visit www.pga2012.com, Facebook (2012 PGA Championship -
The Ocean Course) or Twitter (@2012PGA).
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