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Events and Attractions

FIBA World Cup In Spain Generated $505M Economic Impact For Spain, Study Finds

Deloitte found that this year's FIBA World Cup in Spain generated a total economic impact of €408M ($505M) and set an attendance record, according to Javier Maestro of MUNDO DEPORTIVO. The tournament's 76 games filled the six venues to 80%, "a world record" for a FIBA World Cup." FIBA Secretary General Patrick Baumann called it the "best FIBA World Cup in history." The event's global TV audience was estimated at 300 million, as games were broadcast in 179 countries. Of the total economic impact, €75M went directly to Spain's tax authorities. This "takes into account" the €39M ($48M) spent hosting the event. The "gold for Spain in the economic department was unquestionable." On the court, "there was a bitter taste," as the host nation was eliminated in the quarterfinals when it lost to France. Despite "fiscal incentives that make such events fall under the general interest category, the direct profit for the State" was €33M ($41M). This led Spanish Superior Sports Council (CSD) President Miguel Cardenal to say that "the law that allows Spain to secure private sponsorships" for major int'l competitions "had to be viewed with satisfaction." Though the event was spread over six venues, a total of 491,000 tickets were sold. Deloitte's audit also revealed that 55,000 fans visited Spain during the tournament and spent a total of €82.7M ($102.3M) on "lodging, food, etc." Spanish Basketball Federation President José Luis Sáez said, "It has been the biggest sporting event of the decade in Spain. We have had an exemplary tournament leaving a unique legacy for Spanish basketball. We are not going to stop here, we want to remain leaders in the future." He added that Spain is hoping to host the FIBA Women's World Cup in '18 (MUNDO DEPORTIVO, 12/4).

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