Independent Study Proves Event is Economically Crucial for Tourism Industry, Local Businesses, and Job Growth
CHICAGO, IL – The Bank of America Chicago Marathon continues to generate significant impact for the Chicagoland region, with the 2023 race contributing a record-breaking $547 million (PDF) to the city’s economy, a 42% increase from the $386 million impact in 2022, according to an independent economic impact study conducted by Jones & Associates Economics.
Since 2017, the Bank of America Chicago Marathon has had a cumulative economic impact of over $2.3 billion. The tourism industry, which includes businesses in the hospitality, food service, accommodations, retail, and transportation sectors across all 50 Chicago wards, saw the most significant impact with $177 million in economic activity tied directly to the 2023 race.
The Bank of America Chicago Marathon is widely considered one of the most important events in Chicago every year, attracting visitors from all over the world and showcasing the city as a premier travel destination. Last year, the marathon welcomed 48,472 participants, an increase of nearly 13% over 2022, of which 35% participants were international visitors.
“At over half a billion dollars of impact, the Bank of America Chicago Marathon proved to be one of the greatest drivers of economic activity in Chicagoland in 2023,” Rich Gamble, Interim president and CEO of Choose Chicago. “Marathon weekend is one of the most important dates on the calendar in Chicago, and no event better exemplifies our city’s hosting abilities than the Bank of America Chicago Marathon.”
In 2023, the marathon directly contributed to 3,694 full-time jobs, as well as $182.98 million in wages and salary income, further illustrating the significance of the race on the Chicago economy.
“Every year, the Bank of America Chicago Marathon’s impact and visibility grows,” said Carey Pinkowski, Bank of America Chicago Marathon executive race director. “Whether it’s economic or charitable impact, or the prestige of the event itself, we continue to be humbled by the marathon’s growth. We’ve come a long way and we owe so much to the 10,000+ passionate volunteers and countless community members who make race weekend possible.”
“The Bank of America Chicago Marathon places Chicago on the world stage, spotlighting our city as a premier destination for world-class athletes and the global running community,” said Rita Cook, president, Bank of America Chicago. “Beyond the enormous economic lift it provides small businesses and individuals across the city, the marathon – and race weekend in particular – fosters a sense of camaraderie, competition, and community among Chicagoans and visitors alike. We are immensely grateful to the organizers, volunteers, spectators, small businesses, and everyone whose commitment helped make the 2023 marathon such a resounding success.”
The 46th Bank of America Chicago Marathon kicks off Sunday, October 13 at Grant Park. For more information, please visit www.chicagomarathon.com.
