Philadelphia Poised to Reap Big Benefits from World Cup Tourism
As the world's top soccer teams descend upon Philadelphia next summer, the city is expecting a financial windfall that will put it ahead of several other major US host cities. According to a new report compiled by Deloitte for Airbnb, Philly is in for a significant boost, with an estimated 149,000 tourists set to visit the area during and after the six World Cup games.
These visitors are expected to spend upwards of $52 million within the Philadelphia region, a figure that includes not just individual bookings but also increased demand on local businesses and higher employee wages. This surge in spending is predicted to generate an additional $115 million in economic impact, pushing total revenue for the city to a staggering $167 million.
One of the main beneficiaries of this influx of tourism dollars will be local Airbnb hosts, who are expected to rake in around $8 million in profit - or about $1,900 each. This figure is impressive, particularly when compared to other US host cities, such as Atlanta and Kansas City, which are projected to earn significantly less.
While Philadelphia's World Cup bonanza may not surpass that of Dallas, which is tipped to reap the biggest rewards at a whopping $502 million, it is still set to bring in an impressive haul. And with 65% of tournament tourists expected to return to host cities after the World Cup ends on July 19, the city can look forward to continued economic benefits for years to come.
According to Deloitte researchers, Airbnb stays during the World Cup will have a lasting impact on tourism in Philadelphia, generating another $70 million in direct, indirect and induced revenue over the next five years. This, combined with the creation of around 660 full-time equivalent jobs, makes Philly an attractive destination for visitors from all over the world.
As the world's top soccer teams descend upon Philadelphia next summer, the city is expecting a financial windfall that will put it ahead of several other major US host cities. According to a new report compiled by Deloitte for Airbnb, Philly is in for a significant boost, with an estimated 149,000 tourists set to visit the area during and after the six World Cup games.
These visitors are expected to spend upwards of $52 million within the Philadelphia region, a figure that includes not just individual bookings but also increased demand on local businesses and higher employee wages. This surge in spending is predicted to generate an additional $115 million in economic impact, pushing total revenue for the city to a staggering $167 million.
One of the main beneficiaries of this influx of tourism dollars will be local Airbnb hosts, who are expected to rake in around $8 million in profit - or about $1,900 each. This figure is impressive, particularly when compared to other US host cities, such as Atlanta and Kansas City, which are projected to earn significantly less.
While Philadelphia's World Cup bonanza may not surpass that of Dallas, which is tipped to reap the biggest rewards at a whopping $502 million, it is still set to bring in an impressive haul. And with 65% of tournament tourists expected to return to host cities after the World Cup ends on July 19, the city can look forward to continued economic benefits for years to come.
According to Deloitte researchers, Airbnb stays during the World Cup will have a lasting impact on tourism in Philadelphia, generating another $70 million in direct, indirect and induced revenue over the next five years. This, combined with the creation of around 660 full-time equivalent jobs, makes Philly an attractive destination for visitors from all over the world.
like philly's gonna be literally swimming in cash 
after the world cup. and that $8 million profit for airbnb hosts? talk about a nice chunk of change 
i'm not surprised atlanta and kansas city aren't doing as well tho, philly's got that iconic vibe going on which attracts tourists like bees to honey 
. It's gonna be crazy busy, but I think it'll really boost our local economy. I mean, $167 million is no joke 
But seriously, it's awesome that we're getting so many visitors from all over the world. Just hope they don't overrun our traffic and parking situation 
. Still, it'll be worth it if it means more jobs and revenue for the city. I'm just excited to see what kind of fun activities and events we can get around these games 
.
and cheering on the teams from my cozy little yoga studio 
. The fact that 65% of tourists are planning to return is a huge bonus - more wellness retreats and workshops needed, stat! 
I've got a little one who's into soccer and can't wait to see all the excitement on display. It's awesome that local hosts are going to rake in some serious cash too - my friend's Airbnb has been super popular with family vacations, so this is great news for them! 
. It's not Dallas just yet, but still a big win for Philly! 
But on a more serious note, $167 million is definitely a nice chunk of change... I don't know if it's worth the hype though, 65% return rate? That sounds like a lot of work for some hosts 
Plus, what about the environmental impact? All those extra tourists gonna make Philly's infrastructure super happy 
. And have you seen the prices on Airbnb lately? $1,900 a pop? That's just crazy!
, they'll be living large for 5 years straight 
I think Philly's gonna need to invest in some serious infrastructure to handle all those tourists, can't imagine the traffic jams 
.
philly is gonna get so lit 
meanwhile dallas is like the ultimate winner 
it's amazing to think that all those tourists are gonna come and spend their money on airbnb stays, local eats, and souvenir shopping 
and the hosts gettin' paid upwards of $1,900 each? that's straight fire 
can't wait to hear how everything shakes out after the tournament 
167 MILLION DOLLARS is a lot of cash! 
. I mean, who wouldn't wanna visit Philly with all that World Cup action? The city is gonna be HUMPIN' with tourists! 
And with 65% of those tourists coming back after the World Cup, it's gonna get super crowded in Philly soon enough 
. Not to mention the noise, traffic, and pollution issues that'll come with a large influx of visitors 
. Can't say I'm thrilled about all this extra cash being funneled into the city's coffers 