NEW YORK (TheStreet) -- The 2014 Super Bowl will take place at MetLife Stadium in New Jersey, home of the New York Jets and New York Giants. TheStreet's Brittany Umar discusses the financial impact to the region.
Ticket prices for February's Super Bowl are astronomical compared with 2013, up to $2,600, more than double last year's prices of $1,250 in New Orleans, Umar reported.
She added that many hotels are already sold out, and residents in the area have resorted to renting out their homes for big money.
One four-bedroom, New Jersey home is listed on Craigslist for an astounding $30,000, for a one-week rental.
Jon Tisch, co-chairman of the board for the 2014 Super Bowl host committee, said it's not just a one-and-done weekend for the area.
Not only will it create more jobs in the area, but more than 1 billion people will be watching the game worldwide, he said.
That may equate to more people wanting to visit the area with their family or on business, he added.
Tisch said that the Super Bowl should generate between $550 million and $600 million dollars for the area.
He concluded that if it all goes well, MetLife Stadium could host the Super Bowl once every 10 years or so.
-- Written by Bret Kenwell in Petoskey, Mich.
Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.