With festivals around the world getting cancelled, it’s no wonder the economy in host cities and their surrounding areas is taking a hit. Beyond closed bars and restaurants, the thousands drawn to these events make an impact on nearly every sector, from tourism to security companies to cleaning businesses.
In 2017, a study found that Coachella generates over $400 million worth of revenue for the local economy. That’s a number that’s hard to ignore. Time interviewed multiple local business owners about how Coachella’s postponement this year is affecting their lives, and in every case it appears to be absolutely devastating.
Many are losing tens of thousands of dollars, if not more. This is money the individuals and their employees have counted on, reliably, year after year. Now, with 6 months to wait for the return of the festival and its sister event Stagecoach, there’s no telling how they will make it through the coming months, especially as business continues to dwindle due to event bans and general concern over the spread of Coronavirus, aka novel COVID-19.
