Hookers aren’t the only ones who’ll be seeing action this week. While the Boston convention was pretty much a wash financially, economists at Suffolk University’s Beacon Hill Institute think New York will do better. They expect the convention to attract 50,000 visitors who will stay an average of 6.25 days and pump $98 million into the economy. Which businesses will benefit? The institute estimates that delegates will drop an average of $351 a day on everything from fast food to Fendi to Fiddler on the Roof. The industry breakdown:
Hotel ($167)
Food and beverage ($65)
Retail $39
Transportation ($34)
Entertainment ($37)
Other ($9)
Daily total ($351)
Within industries, some kinds of businesses will do better than others. Conventions are notorious freebie zones—corporate-sponsored receptions abound—so while caterers and fancy “destination” restaurants will do well, establishments dependent on walk-in business may suffer. Other big beneficiaries: temp agencies, construction, security, real estate, and, of course, “services.”
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