Canadian businesses taking Hit due to Hockey Lockout -NHL Update
The National Hockey League (NHL) being locked out is not the loss of any one single person, but hundreds and thousands suffer due to the work stoppage and now, businesses all around North America which counted on hockey to bring in the money are suffering,
especially in Canada.
While the United States still has the National Football League (NFL), National Basketball Association (NBA) and Major League Baseball (MLB) to still bring thousands of fans to the stadiums on a daily basis, Canadian businesses rely solely on hockey. It seems
like there has been an apocalypse due to the empty parking lots, even emptier hockey stadiums and business owners just waiting for someone to come by.
According to a leading credit and debit card processor, 11 percent is the exact figure that shows how much spending has dropped in those areas where hockey thrived and business took full advantage of that.
There are still those who are benefitting from the attention diversion as people are spending time in other establishments around the city, instead of the usual packing around hockey stadiums.
"While overall spending at establishments near hockey arenas is down, it would appear that Canadians are simply choosing to stick closer to home," said Jim Baumgartner, Moneris president and CEO.
A lot of people have also been forced to lose their jobs or either take a pay cut due to the very fact of there being no business being brought in.
"Of course, we can find some losers from the lockout. It's harder to find the winners because it's a lot more diffused -- people can spend it anywhere. But I don't think overall there's a big impact," Michel Poitevin, a professor at the University of Montreal,
said in an interview, according to ESPN.com.
Gambling and lottery designated areas are also suffering, but Ontario losing as much as $500,000 a week of potential revenue which is tied in with the lockout directly.
Fans, business owners and anyone basically affiliated with the sport of hockey is hoping for the lockout to come to an end, but it is anyone’s guess when that will actually happen.
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