St. Pete Pride Proudly Boasts $67.2 Million economic impact

Photo Via The Watermark

(WM) St Pete Pride has released the economic analysis for its 2019 celebration, unveiling an impact of more than $67 million on the local economy last year.

The 2019 St Pete Pride economic impact analysis was conducted by marketing firm Destination Analysts, Inc. on behalf of Visit St. Pete/Clearwater, a member of both the U.S. Travel Association and the International LGBTQ+ Travel Association. Research data was collected utilizing three integrated survey techniques.

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The first was an intercept questionnaire of 338 Pride attendees, completed in-person from June 21-23, 2019. “Think people with clipboards stopping you and asking questions,” St Pete Pride President Chrys Bundy explains. “They were asked if they were local or visiting, how long they were staying and more.”

To calculate the overall economic footprint on Pinellas County, additional information was subsequently collected via online surveys. A total of 49 sponsor/exhibitor surveys and one event organizer survey were included in the findings, based off of 157,845 unique 2019 attendees.

St Pete Pride estimates a total attendance of 265,180, generated from local police reports and surveys. Based upon these figures, the impact analysis found that more than half of Pridegoers last year attended for the first time.

“That means the word has gotten out,” Bundy says. “We have a gorgeous city, quality events, and people and businesses welcome visitors to the Sunshine City with open arms.”

The findings indicated that on average, visitors from outside of Pinellas County who visited the area specifically for Pride spent $157.69. This generated $42,507,299 in new visitor spending, which was bolstered by event sponsors, vendors and exhibitors for an estimated impact of $44,286,248.

According to the analysis, St Pete Pride 2019 also generated $49,508 in hotel room costs and an additional $15,226 in vacation/home share rentals. The weekend generated $2,339,694 in county taxes.

“That spending begets more spending by workers and businesses due to increased revenue,” Bundy says, evident in the report’s final sum. After indirect and induced spending effects were estimated using industry standards, Pride 2019’s total economic impact reached $67,231,244.

“Aside from being a safe space to gather and be who we are, it shows that because of our movement – because of Pride – businesses make more money and they hire more employees,” Bundy summarizes. The organization also recently discussed the matter with city officials.

“We meet with the city every year,” Bundy says. “The economic impact was a natural part of that discussion. We’re extremely lucky to have an amazing mayor, deputy mayor and city council that support the LGBTQ community here in St. Pete.”

The next St Pete Pride will be held June 26-28, 2020. For more information, including details about Taste of Pride on March 7, visit StPetePride.com.