X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LOS ANGELES-Last month’s terrorist attacks on the East Coast will cost LA County 41,000 jobs and a staggering $2 billion in travel spending over the next nine months, according to estimates by local tourism and union officials.

Roughly 3,500 of this county’s unionized hotel workers–or 40% of the total unionized hotel workforce–have already lost their jobs or had their hours cut in the days since the attacks, according to the Los Angeles Convention and Visitors Bureau and union representatives. Hotels and theme parks have seen their business plunge because so many business and leisure travelers have cancelled their travel plans for security or economic reasons.

The number of furloughed workers will grow to nearly 41,000 by next June, LA convention officials say, as the drop in tourism has a domino effect on other segments of the travel-related industry. Hotel bed-tax revenue, which last year generated more than $103 million, is expected to fall by at least 15%.

California Governor Gray Davis last week authorized spending $5 million to help promote tourism across the state. But some analysts say that’s not nearly enough, noting that Las Vegas alone has already announced plans to spend $13 million to lure visitors back to the gaming paradise.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.