Total solar eclipse has potential to boost U.S. economy by over $1 billion


Total solar eclipse has potential to boost U.S. economy by over $1 billion

The upcoming solar eclipse on Monday is expected to generate a significant amount of economic activity as the Moon’s passing will create a path of total Sun blockage from Texas to Maine. Travel companies have been offering deals and many businesses are using the celestial event to boost sales. The Perryman Group estimates that the impact on the economy could be several billion dollars, with direct tourist spending at $1.6 billion and additional knock-on consumption reaching up to $6 billion.

While the eclipse is a one-day event, it is anticipated that the influx of visitors from around the nation and beyond will lead to long-term benefits for many areas. The increased media coverage of areas that don’t usually receive much attention could enhance the prospects for future tourism and development opportunities. The Perryman Group uses a combination of surveys, industry information, and other inputs to calculate the economic impact of events like the solar eclipse for clients such as corporations and government groups.

The report also ranks the states along the path of totality based on the expected economic impact of the eclipse. Texas is expected to see the largest impact at $1.4 billion, while New Hampshire is predicted to have the smallest impact at $2 million as the eclipse will only briefly pass through the northern edge of the state before leaving the country.

Leave a Reply