New York’s biannual Fashion Week has descended upon the city like a plague, nearly paralyzing the media as every headline seems fashion-related. But it’s for the betterment of the city, as the New York City Economic Development Corporation recently reported the event is a huge boon on New York’s local economy. The staggering amount of annual revenue brought in from event is just shy of $900 million dollars. What’s more interesting is most of the money comes from direct spending on hotels, venue costs, staff, food and drinks for the lavish parties thrown. While the number sounds huge, ANIMAL decided to compare it to some other notable annual NYC multi-day events to see just how impressive (or not) this number is.
While NYFW eclipses all other events by more than double in total revenue, the event is also significantly longer than most. When you separate each event by revenue per day, each NYFW day brings in about $55 million dollars. While still an impressive number, the NYC marathon weekend brings in more money per day at over $150 million. Other high revenue events include the Big East tournament at Madison Square Garden with just over $20 million per day for four days of games, and $13 million a day for the two weeks of tennis matches of the U.S. Open.
(Photo: SamsungTomorrow)
