Press Release

NCAA Basketball Tournament Generates
$2.3 Million in Visitor Spending


Contact: Martin Armes, 645-2654, marmes@visitraleigh.com

Raleigh, N.C. -- While area teams Duke and Wake Forest benefited from fellow ACC school N.C. State hosting NCAA Men's Basketball first- and second-round games at the RBC Center on March 18 and 20, the area economy benefited as the Greater Raleigh Convention and Visitors Bureau (GRCVB) calculated the economic impact of "March Madness" as more than $2.3 million.

This economic impact information uses an economic impact model developed by the National Association of Sports Commissions and used nationwide; however, it has been adjusted to reflect the NCAA average daily room rate figures. The event generated approximately 4,844 total room nights and the $2.3 million figure is a conservative number that does not use a multiplier, but instead reflects direct visitor spending only.

N.C. State served as the official host as eight teams competed at the Raleigh site, including Duke, Alabama State, Seton Hall, Arizona, Wake Forest, Virginia Commonwealth, Florida and Manhattan. Six games with more than 12 hours of national television exposure on CBS highlighted Raleigh and the RBC Center for millions more in potential future business. Plus, writers and broadcasters from across the country were in Raleigh to cover the six games.

N.C. State, with support from its partners GRCVB and the RBC Center, has submitted a bid to host the NCAA tournament again in 2007 or 2008. A decision is expected this summer.