PHOENIX — Talk about a hole-in-one: This year’s Waste Management Phoenix Open brought nearly $400 million into Arizona’s economy, according to a recent Arizona State University study.
The multi-day golf tournament brought in $389 million to Arizona’s economy, the W.P. Carey School of Business study found. The study also found that the event’s economic impact increased 65.4 percent — or $222 million — compared to 2012.
According to a press release, the study tracked “economic impact as the increase in spending” and “economic vitality in a community as a result of the existence of an event.”