Monterey Car Week Pumped Millions Into The Economy
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Tell us again how selfish it is to be a car enthusiast…
With Monterey Car Week actually being held this year after the event was canceled for 2020, the gathering injected some much-needed economic relief into the area. According to a local report, just revenue from car enthusiasts staying in hotels almost reached $41 million.
Learn who the winners of the Pebble Beach Concours d’Elegance were here.
The 10-day event is filled with all kinds of auctions, cruises, shows, and even vintage racing at Laguna Seca. As the capstone event, the Pebble Beach Concours d’Elegance receives considerable media coverage, which has the potential to interest even more people to visit the area at other times of the year. All those automotive events draw in people from around the world, where they not only stay in hotels but also eat at restaurants, buy souvenirs, and patronize countless local businesses. In other words, the $41 million injection into the local economy through hotel stays is just a portion of the economic uplift Monterey Car Week provides.
Even more impressive is the fact not as many people were in attendance this year, thanks in part to California’s government-mandated covid restrictions. According to the Monterey Convention and Visitors Bureau, overnight visitation to the events was down about 8.6 percent versus the last time Monterey Car Week was held, in 2019. Even with that dip, hotel revenue for 2019 was $39.9 million, so the estimated total for 2021 is even higher.
That same local report mentioned how Monterey Car Week is the “No. 2 economic engine in Monterey County.” In other words, countless businesses depend on the event for a good chunk of their revenue. That allows owners to employ more locals, buoying up countless households. Even if you aren’t a car fan, you have to admit that’s impressive.
In addition, the event raised almost $3 million for charitable causes. The next time someone tells you all car people are selfish and contribute nothing to society, you’ll know that isn’t true.
Source: Monterey Herald
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