Chicago Marathon Boosts Local Economy with $683 Million Impact
The Significant Economic Impact of the Chicago Marathon
The Bank of America Chicago Marathon has become an essential event for the local economy, contributing an impressive $683 million in economic impact, as revealed by an independent study by Jones & Associates Economics. The popularity of this marathon has surged, marking a 22% growth in economic contributions compared to the previous year.
Thriving Participation and Increased Tourism
In 2024, nearly 53,000 runners participated in this iconic race, showcasing not only local talent but attracting a significant out-of-state crowd. The out-of-state participation saw astonishing growth—a 130% increase, drawing supporters from across the United States. This influx of visitors positively impacted local businesses as spending rose dramatically across accommodations, dining, retail, and transportation sectors, contributing over $177 million in tourism-related economic activity.
Job Creation and Community Involvement
The marathon played a vital role in supporting employment in the region, providing 4,589 full-time jobs—representing a 24% increase from the previous year. This job creation equated to a remarkable $229 million in wages, illustrating how deeply intertwined the event is with the community's economic fabric.
Acknowledgements from Local Leaders
Key figures in the region expressed their gratitude towards the marathon's success. Kristen Reynolds, President and CEO of Choose Chicago, noted the marathon's unparalleled ability to unite the city and showcase its vibrancy. She emphasized the excitement and energy that reverberates through neighborhoods along the marathon route, creating a unique community spirit. Rita Cook, President of Bank of America Chicago, also highlighted the monumental efforts of the runners who raised $36 million for various global charities, along with the dedication of volunteers and spectators.
The Competitive Spirit of the Marathon
Carey Pinkowski, Executive Race Director for the marathon, pointed out that while the economic advantages are substantial, what truly matters is the sense of community fostered by this competitive event. He praised the commitment of all those involved in organizing the marathon and looked forward to witnessing athletes push their limits in future races.
The Broader Economic Landscape
When evaluating the national significance of marathons, the combined economic impact of prominent races such as the Chicago and Boston Marathons reached approximately $1.2 billion in 2024. These events create invaluable opportunities to connect with endurance athletes worldwide, while significantly contributing to local economies.
Looking Forward to Future Events
The 47th Bank of America Chicago Marathon is scheduled to occur in October. This popular event invites thousands of participants from over 100 countries and all 50 states. It features a diverse field that includes elite athletes, regional competitors, dedicated marathoners, and charity participants, ensuring the race remains inclusive and engaging. The race showcases a scenic route through 29 neighborhoods, captivating over a million spectators each year.
As the marathon brings in participants and fans alike, it continues to raise millions for charitable causes, reaffirming its critical role in driving economic impact for Chicago, reported at $683 million annually.
Bank of America: A Leading Financial Institution
Bank of America stands tall among the globe's prominent financial institutions, offering services to individual consumers, small businesses, and large corporations. With around 69 million clients in the U.S., they operate through numerous branches and ATMs, supplemented by award-winning digital banking solutions. They remain vital in wealth management and corporate investment banking worldwide.
Frequently Asked Questions
What economic impact did the 2024 Chicago Marathon have?
The 2024 Chicago Marathon generated a record $683 million, marking a significant increase in the local economy.
How many participants were in the 2024 race?
Approximately 53,000 runners participated in the 2024 Bank of America Chicago Marathon.
What role did out-of-state visitors play in the event?
Out-of-state participants and visitors more than doubled, contributing to local economic growth with a 130% increase since the prior year.
How many jobs were supported by the marathon?
The marathon supported 4,589 full-time jobs, reflecting a 24% increase from 2023.
When is the next Chicago Marathon scheduled?
The next Bank of America Chicago Marathon is set to take place in October 2025.
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