Bank of America’s annual Chicago marathon generates $171.5 million in economic activity for the city, according to a new study by the University of Illinois at Urbana-Champaign.
The university’s Regional Economics Applications Laboratory conducted the study, which found that the 2010 marathon directly generated $70.6 million for the local tourism industry and another $100.9 million of indirect economic activity. The study calculated that each dollar spent by a marathon runner generated an additional $1.29 for the local economy.
This year’s marathon, which will be held on Oct. 9, hit its capacity of 45,000 runners in a record 31 days, the bank said. The company also said that 10,000 of the participants indicated the race will mark their first visit to Chicago, making the marathon an important tourist draw during what is traditionally a slower period for the city.
