Boston braces for economic impact from bomb blasts
NBC News - 04/17/2013
The annual marathon alone generates nearly $140 million in revenues for local hotels, shops, restaurants, and other businesses, according to the Boston Athletic Association, which sponsors the race.
“This won’t be just affecting the marathon, it’s likely to affect events that will happen outdoors this summer,” said Alan Clayton-Matthews, a Northeastern University professor who focuses on the region’s economy. “People are going to remember that video of the bomb exploding on the sidewalk and be wary of crowds and going out and about.”
The greater metro area’s $325 billion economy could also suffer if security concerns give pause to out-of-town convention planners. Boston area hotels sold 6.3 million room nights last year, generating $1.4 billion in revenues. Even before the marathon attack, convention bookings were expected to soften this year, according to the Greater Boston Convention and Visitors Bureau.