Blue Jays’ playoff run unlikely to be home run for Toronto economy: experts
Blue Jays’ playoff run unlikely to be home run for Toronto economy: experts
The Toronto Blue Jays are hoping to get a home run in the American League Champion Series as they step up to the plate, but economists and business leaders say the series’ boost for the city may be more akin to a walk.
“The thing about large scale sporting events, large scale music events, large scale events in general is that the economic impact is generally massively overstated,” said Moshe Lander, a sports economist at Concordia University.
The Jays are facing off against the Seattle Mariners in a best-of-seven series that began Sunday night in Toronto.
Lander said the Blue Jays’ run is much like the playoff runs of the Maple Leafs in that it will be short and highly concentrated, with people buying tickets and stopping at a local bar near the stadium, giving the appearance that it’s busier and better for the economy.
But what the games are actually doing, he said, is taking business from one part of the city and temporarily putting it in another.
While people might be working concession stands or handling parking for that night, they may actually be having to bail on a shift at their normal job to do so.
“The net impact is much closer to zero because you’re also having to factor in the cost,” he said. “When you look at the fans and say, ‘Well, they’re spending a huge amount on tickets,’ their overall income hasn’t changed, they haven’t gotten a promotion at work, they’re not working more productively. They don’t get a raise because the Jays have gone further, so their disposable income hasn’t changed and they’re choosing to buy tickets, then that has to mean they’re making cuts elsewhere.”
Even if temporary, there could still be some benefits for different industries.
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