This year’s LA Pride festival generated almost $75 million in economic output for greater Los Angeles.
On Tuesday, December 10, Christopher Street West, the nonprofit behind the annual LA Pride Festival and Parade, announced the economic impact this year’s festivities had on the surrounding area. The Parade and Festival generated $74.7 million in economic output and $42.2 million in direct expenditure in LA County.
“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,” CSW board President Estevan Montemayor said. “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.”
CSW worked with Beacon Economics, an independent research and consulting firm, on the economic report. 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.
Just over half of ticket buyers being from Los Angeles County, 31 percent were from outside Southern California and the remainder being from elsewhere in Southern California. Of the ticket buyers, nearly 40 percent had a bachelor’s degree or higher and over 40 percent ranged between the ages of 25-34. The City of Los Angeles was the most popular location for accommodations, accounting for 40 percent of accommodations, while West Hollywood accounted for 18 percent of accommodations. Additionally, CSW data showed that over 85 percent of the exhibitors and producers came from Los Angeles and fewer than 15 percent from outside the area.
“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,” said Adam J. Fowler, Director of Research at Beacon Economics. “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.”
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