The Women’s Tennis Association (WTA) announced that Charlotte will host the WTA Finals, the concluding championship of women's professional tennis, for three years beginning in 2027. The event will take place at the Spectrum Center and will feature the top women players globally.
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Additionally, the WTA revealed plans to move its global headquarters to Charlotte and indicated the possibility of establishing an annual tournament in the city after 2029.
Craig Depken, an economics professor and department chair, discussed the implications of this announcement on Charlotte's potential to host large sporting events in the future.
Economists measure the economic impact of major events like the WTA Finals by analyzing net impacts beyond what would occur without the event. This approach considers overall spending, hotel bookings, short-term rentals, job creation, and even business movements such as startups and closures.
Hosting a multiday global sporting event like the WTA Finals primarily benefits the local economy through increased visitor spending on hotels, food, and hospitality. Although there is a risk of displacing smaller events, previous research indicates that multiday events generate significant net economic benefits.
The relocation of the WTA headquarters to Charlotte represents a more modest but long-term economic advantage. Initial costs related to setting up the headquarters may lead to new permanent jobs, contributing to local growth. An additional multiday tennis event would further bolster spending in travel and hospitality sectors.
Costs associated with hosting significant events can vary. Expenses may include additional security for first responders and potential displacement of visitors who might choose other destinations instead.
The hospitality and travel industries are expected to gain the most from the WTA Finals, along with local tourist attractions.
This announcement reflects Charlotte's growing reputation as a venue for multiday sporting events, diversifying beyond college basketball and NASCAR. While the city could host World Cup group games, it currently lacks the infrastructure to manage the demands of more prominent events like a Super Bowl or World Cup final. Despite having a world-class airport and a robust transportation network, Charlotte may need another 10 to 20 years to develop the necessary hotel capacity and infrastructure for such large-scale events.
Charlotte's appeal as a host city stems from its central location, accessibility from major population centers, strong transportation network, growing hotel sector, and acclaimed dining options.