Tepper School of Business Students Collaborate with Economist to Unveil Comprehensive Analysis of 2023 Pittsburgh Marathon's Economic Impact
As the countdown begins for the highly anticipated 2024 DICK'S Sporting Goods Pittsburgh Marathon scheduled for May 5, excitement not only surrounds the participating athletes but also the potential economic benefits for the city.
Carnegie Mellon University's Tepper School of Business Economist, John Gasper, together with his dedicated team of students, has unveiled groundbreaking research shedding light on the economic impact of the 2023 Pittsburgh Marathon. Using advanced economic modeling systems, Gasper and his students meticulously analyzed the financial ramifications of the weekend event, uncovering significant gains for the city.
The comprehensive study revealed that the 2023 Pittsburgh Marathon yielded a remarkable surge in revenues, exceeding $25-30 million during the event. Gasper's team employed sophisticated economic methodologies to assess the marathon's impact on various sectors, providing valuable insights into its contributions to the local economy.
“This undergraduate capstone experience highlights our students’ ability to conduct thoughtful, rigorous, and important analysis,” associate teaching professor of economics at the Tepper School John Gasper said. “It ties together much of what they’ve learned while at Carnegie Mellon and allows the students to shape their education in a very real and valuable way.”
Gasper's students engaged with event partners, charity allies, and local running clubs to capture the full spectrum of economic activity generated throughout the training season and the event itself.
The 2023 race attracted over 35,000 participants from 50 states and over 10 countries across six continents, supported by an enthusiastic crowd of more than 300,000 spectators.
Looking forward to the 2024 marathon, Gasper believes the economic forecast for Pittsburgh is promising.
“It will likely continue to be a big weekend with many out-of-town visitors, racers, and supporters continuing to generate lots of economic activity for the city.”
About Carnegie Mellon University Tepper School of Business
The Tepper School of Business, located in the heart of Carnegie Mellon University in Pittsburgh, PA, embodies a forward-thinking culture and the spirit of innovation. From artificial intelligence to intelligent systems, the Tepper School is the birthplace of the data-informed and human-driven approach to business. Designed to educate leaders for the Intelligent Future, the Tepper School is ranked among the world’s top business schools by leading business publications. The school offers a STEM-certified MBA program, MS degrees in Product Management, Business Analytics, Computational Finance, and Management; undergraduate degrees in business and economics; a Ph.D. program; and executive education for professionals and their organizations.
Learn more about Carnegie Mellon University’s Tepper School of Business.