Daytona Bike Week Events More Profitable Than Daytona 500

As Daytona Bike Week events get ready to rev up this weekend, business owners in the area prepare their city. It is expected that at least 500,000 visitors will pour into Daytona Beach, filling the are hotels with Bike lovers of all ages. The title can be a little deceiving, “Bike Week” actually lasts a full ten days when all the events are included.

In a startling report from Mid-Florida Marketing & Research, it seems that the most profitable event for Daytona Beach is actually Bike Week, not the Daytona 500 that kicks off race season. This year’s race was a thrilling event that seems to have helped Dale Earnhardt Jr. get on pace for a legendary season. According to Mid-Florida Marketing President Evelyn Fine, the 2013 Daytona 500 brought in $40.34 million from race fans. That is surprisingly underwhelming compared to the $74.8 million estimated spent by Volusia county visitors for last year’s Bike Week.

For those who have ever attended the Daytona Bike Week events, it is actually not that surprising to see such a large amount of income for the city. Everything down the strip of A1A is turned into an opportunity to make money. As hotels are overbooked, visitors are pushed farther out from the beach creating a wider sprawl. Daytona Bike Week 2014 is set to be record breaking, as long as the weather holds out.

One of the reasons for more spending during the Daytona Bike Week events is related to a changing demographic. While the Daytona 500 tends to be a more affluent crowd according to research, Bike Week brings in a lot more diversity. Also, spending is not centralized on one event at the Speedway, but rather spread throughout the city. Daytona Beach is filled with vendors and events all through the streets of the city during Bike Week.

A growing number of women are coming out to the events also, which has changed the vibe around Daytona beach. The city has also made an attempt to create a more family friendly environment. Restaurants tend to bring in the most business over the ten days.

What events are you most excited about at the 2014 Daytona Bike Week?

[Image via Don Richards/Flickr]

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