Because there are so many different aspects to the sport of swimming- hosting meets, practices, recreational facilities, competitive teams, different swimming sports, sponsors, etc, it is difficult to pinpoint exactly how it effects the economy. Overall, the money generated through recreational pools and swimming special events generates a lot of income, but the staffing of pools and upkeep is what costs the most for facilities and communities. Meets around the country cause increased spending in different cities, which leads to a better local economy in those cities. Lifeguards also lead to a stimulated economy by having disposable incomes that are able to be spent on material goods and services rather than fixed expenses, thus improving local businesses. All of these factors combine together to prove the beneficial nature of the sport of swimming for both local and national economies.
Sunday, May 15, 2011
While the majority of income is generated from practice time, special meets and events can generate large amounts of income for swimming. The following table details the number of athletes, length of stay, daily rate for competing, and the total amount earned for the categories of swimming, synchronized swimming, diving, and water polo. While no event comes close to the $720,000 raised at swimming junior nationals, it can be seen that these competitions make huge amounts of money for the sport. These events are usually held in cities across the country, therefore requiring the competitiors to travel. This makes them have to spend money on food, lodging, etc from local businesses in that city. This then brings in money from cities all ocross the country to the local businesses in order to stimulate the economy by bringing in outside money other than that already present in the community. This encourages the economy to be nationwide and move across borders.
The subsequent tables illustrate the spending and incomes of average swimming facilities. It includes both recreational and competition pools, thus why the percentage of income for recreation purposes is so high. Note that swim lessons generate 28% of the income- a high percentace in comparison to the other categories. This shows how families are willing to spend a decent amount of money on swimming lessons and therefore stimulate the swimming economy. Also not the overwhelming 56% of costs that are paid to labor and staffing of the pool. As i stated in an earlier post, lifeguarding costs accont for most of a swimming facilities revenue.
GRAPH #1 COMPOSITE REVENUE ANALYSIS
Recreation Admissions 56%
Swim Lessons 28%
Aquatic Programs 7%
Group Sales 7%
Competitive Meets 2%
Cost of Sales-F&B 2%
Cost of Sales — Merchandise 1%
Competion Only-indoor 51.2%
Competion Only-Outdoor 57.3%
Competion Recreation-Outdoor 79.8%
Recreation Only-indoor 96.1%
Recreation Only-Outdoor 131.6%
USA Synchro. Web. 16 May 2011. http://www.usasynchro.org/.
There is no arguing the fact that the most consistant source of income for swimming facilities is from swim teams and swim lessons. Cris Moler of Parks & Recreation magazine states that, "Believe me, we have heard it all. But the reality is a well-organized competitive swim program can impact your bottom line in positive nature and provide a host of other benefits to your aquatic program." These competitive teams provide a steady income for pools by using lanes that may go unused otherwise. Most teams practice 11 months a year, and pools charge approximatly $4.00 to $10.00 per lane per hour. These costs can add up quicly with the use of multiple lanes for several hours. These fees come in on a regular basis, and are even boosted if meets or events are held at the pool.
The financial benefit of hosting competitive swimming