Private Jets Are Expected To Bring Over $80 Million To The Arizona Economy

Arizona-Super-Bowl-2015

Officials are projecting about 1,200 private jets will descend on the Phoenix area for the NFL’s Super Bowl XLIX at University of Phoenix Stadium in Glendale on Sunday night, bringing a variety of Super Rich from around-the-country and around-the-world.  Team owners, star athletes, celebrities, CEOs, politicians, wealthy business owners, their families, friends and top customers will create a diverse cocktail of affluence.

Previous research done on spending of private jet travelers show they leave an average of $69,000 in the destinations they visit. That figure does not include landing fees, parking, catering other aviation related expenses. Last year’s Big Game generated $600 million for the New York/New Jersey economy according New York Congresswoman Carolyn Maloney.

Host committee projections for this year’s event forecasts $500 million pumped into the local desert economy. Back of the envelope math would mean the “One Percent” will leave $82.8 million behind (1,200 x $69,000), or about 16.5 percent of the economic impact.

Private jet operator NetJets already announced it will be holding a private concert by Lady Antebellum for their customers. According to figures by Degy Entertainment, the Warren Buffett owned company is likely to shell out between $250,000 and $400,000 for the performance.

Naturally hotels, restaurants and attractions will do well. Needless to say there will be lots of team merchandise sold. This year’s event dovetails with the Pro Bowl held last Sunday night and the Waste Management Open, a PGA event at the Fairmont Princess Scottsdale.

Between the dining, the parties, the area’s world-rated spas and golf courses, do the Super Rich have time to squeeze in some shopping before the Super Bowl?

Molina Fine Jewelers is located about a three wood from the Arizona Biltmore, a Waldorf Astoria Resort. Speaking earlier this afternoon, Owner Al Molina took a moment from back-to-back private appointments to say he thinks he will do even better this year than 2007 when one client spent $3.4 million.

Al-Molina-web

“People like to buy when they travel,” Molina notes, “And with everything that is happening they are in a good mood.”

Molina spends much of his time traveling to UHNW clients around-the-world so with the Pro Bowl, Super Bowl and Waste Management Open converging on his home town, he says many visiting clients have already scheduled their times slots.

“We are not the type of business that has lots of walk-in traffic,” Molina says, yet already he has had several current Pro Bowl players, retired Hall of Famers and team owners, including one who dropped six figures on diamond cufflinks.  Yesterday a lady from Miami and another from Mexico City “walked in.” Molina says most new customers come as referrals from concierges at the local resorts.

For Molina, winning the Super Bowl this time around will be selling a $4.5 million necklace (The Empress) featuring 108-carats of non-heated Burmese Sapphires and 93 carats of Diamonds handmade onto 78 feet of platinum wire.

BSF_TheEmpress_onwhite

Overall, 100,000 people are expected in town just for the Super Bowl. If Molina is successful just 1 in 100,000 will account for 1 percent of the total income projected for the entire spectacle. And for the 1,119 other private jet setters, they will only have to average $65,000 to pull their weight.

About Doug Gollan

Media Executive focused on marketing and sales to Ultra High Net Worth (UHNW) consumers
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