Christopher Street West, the non-profit organization that produces LA Pride, announced on TuesdayChristopher that the 2019 Festival generated nearly $75 million in economic output for Los Angeles Country.
According to a statement, CSW, in partnership with independent research and counseling firm Beacon Economics, released an economic impact report that shows the 2019 LA Pride Parade and Festival generated $74.7 million in economic output and $42.2 million in direct expenditures in Los Angeles County.
Based on expenditure data from organizer CSW and a survey of event attendees, exhibitors and producers, the report details how the three-day event directly impacted the City of West Hollywood, the City of Los Angeles and Los Angeles County. Beacon Economics considered spending by all participants at the 2019 event including attendees, CSW, exhibitors and producers.
Key findings show that the 2019 LA Pride Festival and Parade:
- Increased economic output in Los Angeles County by $74.7 million of which $27.7 million was concentrated in West Hollywood and $18.2 million in the City of Los Angeles
- Increased labor income for workers in Los Angeles County by $33.1 million, including $14.7 million in West Hollywood and $7.4 in the City of Los Angeles
- Supported the annual equivalent of 830 jobs in LA County, including 397 in West Hollywood and 191 in the City of Los Angeles
- Estimated $2.5 million in tax revenue generated in LA County, including $896,100 in West Hollywood and $332,800 in the City of Los Angeles
The report additionally finds that the LA Pride Parade and Festival attracted a diverse group of attendees with just over half of ticket buyers being from Los Angeles County, 31% coming from outside Southern California and the remainder being from elsewhere in Southern California. Of the ticket buyers, nearly 40% had a bachelor’s degree or higher and over 40% ranged between the ages of 25-34. The City of Los Angeles was the most popular location for accommodations, accounting for 40% of accommodations, while West Hollywood accounted for 18% of accommodations. Additionally, CSW data showed that over 85% of the exhibitors and producers came from Los Angeles and fewer than 15% from outside the area.
CSW board president Estevan Montemayor commented, “LA Pride has been a voice for the LGBTQ+ community in the greater Los Angeles area for nearly 50 years, and we’re proud of the positive impact that the LA Pride Parade and Festival has on our local economy. With our partners from the Cities of West Hollywood and Los Angeles, JJ/LA and beyond, we look forward to providing diverse experiences for the community and bringing even more people into the County of Los Angeles for our 50th anniversary celebration next year.”
Adam J. Fowler, director of research at Beacon Economics, added, “Beyond being a world-famous celebration of the resilience of LA’s LGBTQ+ community, the economic and fiscal impacts that the LA Pride Parade and Festival have on both the city and county are undeniable. The event’s ability to generate jobs, labor income, and tax revenue at the level it does is a testament to its success, as well as to the diversity of the local population.”
You can read the full report here.