Kansas City Tax Fighter Contradicts Bank Of America World Cup 'Boost' Claims

From local policy expert Patrick Tuohey . . . 

The headline says “economic boost” but the evidence is mostly that some bars were packed, hotels charged more and visitors spent money. 

And there's the national media hype with a local mention for those who haven't seen it already . . .   

BofA CEO Brian Moynihan said half of the tournament’s $40 billion in fresh economic activity has been funneled to the US, and that the footprint extends far beyond the turnstiles. The bank’s 70 million consumer customers, who spend more than $400 billion a month, are shelling out 5% to 6% more than a year ago.

“Even when we look into host cities like a Kansas City, we can see the growth rate in spending faster than other cities,” Moynihan said. “So it’s having this on-the-ground economic impact, and that spending is going into what we call bricks-and-mortar — going to bars and restaurants and things like that — not necessarily only the people in the stadium.”

Read more via www.TonysKansasCity.com link . . .

World Cup hands US economy $20B boost - with host cities like Kansas City, Philly cashing in big, BofA says

According to the New York/New Jersey Host Committee, fans spent $1.2 billion in June in alone, generating a total economic impact of $2.1 billion.