The double-whammy of supporters and protesters coming to town for President-elect Donald Trump’s inauguration could boost the region by $1 billion, on par with the historic 2009 inauguration of President Barack Obama.
That calculation comes from economist Stephen Fuller, who crunched the numbers for us this week.
The 200,000 to 400,000 people estimated to be attending official inaugural events — the oath of office, the parade and the balls — would bring in about $707 million in direct spending and the associated “ripple effect,” according to Fuller, who works at George Mason University and studies economic impact for major local events.
But if protesters who say they are coming that same weekend actually follow through — 500,000 to 1 million of them, by Fuller’s count — that would bring in another $332 million in direct spending and economic benefits. That means $1 billion combined on the low end or $1.34 billion if attendance reaches the higher estimate.
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Copyright Washington Business Journal, reprinted with permission