In terms of single-day events, Southern California's economy benefits more from the Rose Bowl football game than it does from major award shows like the Oscars and Grammys.
According to the San Gabriel Valley Tribune, a new study from Micronomics, a research and consulting firm in Los Angeles, found that the Rose Bowl Game and Parade generates more money in the local economy than any other event.
In their study, Roy Weinstein, the firm's managing director, and his team determined the 2013 Rose Bowl Game and Parade generated about $306 million in L.A. County. The local economy also benefitted from seeing the creation of more than 3,000 full-time jobs in L.A. County.
"There's no reason to believe the numbers will be any smaller this year," Weinstein told the Tribune. "Of all the events I've studied that take place in Southern California the Rose Bowl Game and Rose Parade have the greatest impact on the economy - more so than the Grammys or Oscars. Not that those aren't important events, but this has a greater national appeal."
The Grammys and Oscars paled in comparison to their economic benefit, despite the most successful and famous movie and music stars all gathering in one place for an evening. It appears as though college football fans spend more money around town than the attendees at the awards shows.
Matt Rogers, front office manager at the Courtyard by Marriott Pasadena, told the Tribune his rooms sell out on an annual basis for New Year's Eve, the traditional date for the Rose Bowl Game. But fans also come to see the parade and they spend money going out to eat, shopping, on their hotel rooms and sight seeing.
"That means that people had more disposable income," Weinstein said. "That's very significant because it motivates more people to come to L.A."
