Did you know that a solar eclipse could be a multi-billion dollar event?
Tracking the economic impact of the solar eclipse starts with understanding the activities that will take place. Across the country, let’s start with the basics – who’s planning on watching and how will they be celebrating? From our recent survey of 1000 Americans 18+ years old:
Planning to watch:
15% live in an area that it passes through and plan to watch
4% plan to travel to an area that it passes through to watch
That adds up to just about 50 million people of which about 12 Million people report that they plan to travel to catch a glimpse of the solar eclipse.
Consumers crave social connections and joy more than ever in the post-pandemic world and look for opportunities to create moments and memories with people they care about. The eclipse presents a golden opportunity to satiate this craving. Given that, it's no surprise that 14% plan to make it a big family event, and another 11% plan to make it a big friends gathering.
When people celebrate and share joy, it’s generally good for the economy. Along with the $165M expected protective glasses spend, my data forecasts an upside of over $100 million in clothing/merchandise and a possible impact of up to $300M in dining events in the path of totality across the country.
And for the 12 million people who plan to travel to a totality area, the economic impact created could eclipse last year's behemoth Taylor Swift's Eras tour.
14% plan to make it a road in the car or RV - estimated spend $876 Million
7% plan to book a hotel or place to stay - estimated spend $1.12 Billion
4% plan to book airfare or travel - estimated spend $1.31Billion
8% even plan to camp out - estimated spend $438 Million
Texas: Where Everything Is Bigger
Approximately 1 million people are expected to travel to Texas for the best viewing of the eclipse, on top of the approximately 12 million that live in the totality path. All the joyful gatherings gazing up at the sky could easily inject $500 million or more into the state’s economy.
Eclipse Enthusiasts and Economics
As consumers eagerly invest in joy, connection, and unforgettable memories, the eclipse is shaping up as a beacon for community celebrations and economic prosperity.
Calculation assumptions: 109 million adults in the US 18 + years old. Cost assumptions: $5 for protective glasses, $50 for driving, $50 for camping out, $50 for merchandise, $150 for hotel, $300 for airfare
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