Conferences Make Post-Pandemic Recovery
Convention halls are filling back up again following the pandemic, restoring a critical type of economic fuel that had been cut off for three years, (subscription) reports.
Whats going on: Attendance at in-person business conferences is on the rise across the U.S., supporting local jobs and wages that had suffered since 2020particularly in tourist- and conference-heavy cities such as Las Vegas.
- Economists said that travelers provide an economic and tax boost to cities without using services, like schools. They come, spend and leave, said Angelos Angelou, president of an economic-impact research firm that has produced reports for events and conferences like South by Southwest and Lollapalooza. Its the kind of economic bonanza that any type of city would love to have.
漍漍漍漍漍漍Betting big: Some municipalities are so sure the recovery is permanent that theyve invested in new conference facilities.
- Seattle recently opened a $2 billion addition to its convention center, and last November, Dallas voters approved their own convention-center expansionwith a price tag of $4 billionto be funded through hotel taxes.
