Oakland Raiders owner Mark Davis’ decision to relocate the team from Oakland to Vegas recently got approval from the National Football League. The announcement was met by skepticism and excitement in equal measure. Jonas Peterson, President and CEO of the Las Vegas Global Alliance, says that the city is already benefiting from the impending move. Here’s how the move will impact the city.
Tourism Boost
The primary benefit of the Raiders’ relocation to Las Vegas is a boost in tourism numbers. Having a professional sports franchise in a city can lead to an increase in the number of visitors, especially on match days. Las Vegas is known for its vibrant tourism center. Things will get even better when the Raiders make their much-awaited move to the city. Expect to see an impressive inflow of tourists and football fanatics during the football season. Ultimately, this would mean more support for local businesses as well as an improved Vegas economy.
Creation of Employment Opportunities
Once the relocation is complete, the Raiders will play their home matches at the Allegiant Stadium, which is under construction. Already, the construction project has created hundreds of job opportunities, especially for those who live around the upcoming stadium. There will also be an influx in economic investment in the area for businesses such as restaurant and merchandise sellers, to cater to the needs of football fans. Already, Wynn Resorts are constructing a 20-acre lagoon to tap into opportunities that will arise from the relocation. This will create even more employment opportunities for Vegas residents.
The Fun Factor
Let’s face it, a trip to watch the NFL in Las Vegas is more enjoyable than a trip to the Oakland-Alameda County Coliseum. Vegas has a feel-good factor because it has long established itself as America’s party capital. A weekend in Vegas watching the Vegas play will undoubtedly be remarkable. Besides watching the Raiders play, there will be so much to do. The presence of the franchise will fortify Vegas’ reputation as one of the best cities to visit in America and the entertainment capital of the country.
Growth of Business
Once the relocation is finalized, Las Vegas will be home to a football franchise and a hockey franchise. One sector that will benefit directly gain ground is business services and real estate. Advertising agencies, insurance companies, and management consultancies will benefit directly from the relocation. The expansion of the business services industry will go a long way in solving most issues that relocation critics have raised. For instance, taxes levied on the team, and resultant businesses will be used to fund social amenities such as schools and roads.
Beyond the complicated economic questions relating to whether an NFL team can succeed in Vegas, the Raiders move to the city certainly makes sense. The city will experience an economic boom, and the NFL will also gain new fans in Vegas. The ripple effects of the move will also have a positive impact on neighboring cities such as Henderson, where the Raiders plan to establish a training facility.
