I spent thousands on a ‘potentially dangerous’ marathon. I’d do it again

Opinion

October 23, 2026 — 6:00am

I went to the Chicago Marathon with a goal to run 42km in less than four hours … and a budget. I failed on both accounts.

For a long time, I swore myself off running. I didn’t understand why people voluntarily spent hundreds – or thousands – of dollars to put themselves through pain, and I couldn’t believe they actually enjoyed it.

Fast-forward two years, and I’ve become that insufferable friend and colleague whose favourite topics include the trials and triumphs of training for, and running in, marathons (it’s rather unfortunate for anyone who asks me what I did on the weekend or what my travel plans are).

A few weeks ago, I travelled to the US to run a marathon: my second one after finishing the Sydney Marathon last year. While the temperature took a toll on many runners, including me (24 degrees might sound perfect, but it’s much higher than the ideal marathon temperature range of 4 to 10 degrees), the financial cost of the marathon was possibly more painful.

There’s no doubt the exchange rate – at less than US70¢ for an Australian dollar at the time – worsened the blow to my hip pocket.

Running, and running events such as marathons, are becoming increasingly large drivers of economic activity, especially as the sport’s popularity has boomed.

For a long time, running has been seen as a sport with low barriers to entry. That is, it’s an activity you can participate in with minimal costs or requirements: you don’t need a team, and you don’t need to pay for access to special venues or equipment. All you strictly need is the ability (and willingness) to run, and maybe a decent pair of shoes.

But as more people have taken to the sport, businesses have realised there are huge opportunities to cash in.

Shoe companies such as Asics, Nike and Adidas constantly pump out new and improved running gear – including carbon-plated shoes aimed at helping athletes run faster and more efficiently – at eye-boggling price points.

Most newer versions cost about $300 to $400, and both the men and women’s marathon world records were broken by athletes wearing a carbon-plated shoe retailing at about $750.

Not all recreational runners will spend a fortune on shoes, but if you’re like me, you end up dropping cash on a large collection of running shoes to cater for different situations and needs – including a carbon-plate shoe you hope will help shave a few minutes off your marathon time.

Then, there’s spending on running clothes, gels (which are consumed on longer runs to keep you fuelled) and technology such as running watches which provide an increasing array of data to inform your training or help you stay on pace during a marathon.

The rise of social media and run clubs has also encouraged spending on running gear and races: a multibillion-dollar industry. Younger generations such as Gen Z, which tend to be especially health conscious, seem to be among the fastest growing demographics for spending on athleisure as well as participating in running more broadly.

But perhaps one of the biggest boosts comes from big running events which not only encourage people to spend money (which they might otherwise have saved) but also draw spending from people who otherwise wouldn’t have splashed cash in a specific city or country. That is, they add a significant amount to the total spending in a place.

For example, while I’ve spent a lot of money in Australia on all sorts of running gear and events, a lot of that spending might have otherwise gone towards other leisure activities or goods, meaning the overall effect on total spending in the country is negligible.

But as an Australian runner travelling to Chicago, I – along with tens of thousands of international participants – would have added significantly to the total amount of spending in the city during October.

That money largely boosts the earnings of locals working at restaurants, hotels and tourist attractions in the area, and helps increase economic growth (although higher demand can, at least temporarily, lead to some unfavourable price surges too).

It’s why cities generally like to hold big events. And big marathons in particular can be especially lucrative.

Take the Sydney Marathon, for example. Especially after gaining “major” status (making it one of eight of the world’s most prestigious marathons), it’s become a bucket-list marathon for many runners, receiving 123,000 applications from people across 162 countries this year.

About 35,000 people were accepted and ran the Sydney Marathon last year, contributing $100 million in visitor spending to the local economy.

Meanwhile, estimates of visitor spending stimulated by the Chicago Marathon last year sit at closer to $1 billion.

Part of the difference probably comes down to how these amounts were measured, but it can also be explained by several factors.

First, the Chicago Marathon field was notably larger than Sydney’s, with 55,000 runners last year compared to 35,000. Second, the Chicago Marathon is more established, and with more runners, it drew a far bigger crowd of spectators (about 1.7 million people compared to about 300,000 for Sydney).

While Sydney had a bigger share of international runners in 2025, at about half compared to one-third for Chicago, about three-quarters of Chicago’s runners travelled from outside the state of Illinois (there is no state breakdown for Sydney). It’s possible that the share (and almost certainly the number) of out-of-state runners was higher for Chicago, leading to higher spending on expensive services such as accommodation.

My spending in Chicago, for instance, was largely dominated by accommodation, coming in at $2000 for three nights. While on most occasions I would have booked a shared room in a cheaper hostel, my willingness to pay for a solid hotel close to the start line was higher knowing that being well rested would be crucial to tackle the marathon.

Then there’s merchandise. Often, clothing and souvenirs from these events are crazily overpriced. For the Chicago Marathon, for example, I spent close to $500, including $170 on a single jacket.

But businesses know that marathons are often a significant personal achievement, experience or memory that runners want to remember, show off and have a keepsake for. This means that prices which customers might usually be unwilling to pay for a jacket, shirt or keyring, are unlikely to deter them.

Spending on food can also be substantial, as marathoners look to scoff down copious quantities of carbs in the days leading up to the race – and then celebrate or refuel afterwards.

And while extensive walking and sightseeing is generally discouraged before a marathon (and physically difficult after it), plenty of non-local visitors take the opportunity of being in a new city to enjoy shows, sights, and other attractions.

All of this is on top of the $370 entry fee for international participants in the Chicago Marathon and $330 fee for international runners in the Sydney Marathon.

While I managed to walk away from the marathon relatively injury-free, it’s also an event that undoubtedly leads to a pick-up in demand for health services, whether that’s hospitals or physiotherapists: another expense (although one people hope to avoid).

I missed my time goal by two minutes, which my ego blames partially on the heat (race organisers issued a “red” weather warning halfway through the race, signalling “potentially dangerous conditions”).

And while both my body and bank account will take a while to recover, I like to think my running-related spending, wherever it is in the world, is giving the economy legs. And somehow, I can’t wait to do it all again.

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Millie Muroi is the economics writer at The Sydney Morning Herald and The Age covering workplace and economics. She was formerly an economics correspondent based in Canberra’s Press Gallery and the banking writer based in Sydney.Connect via X or email.

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