2024 Democratic National Convention generated $371.4 million in economic impact
Report released today by Choose Chicago and the Chicago 2024 Host Committee for the Democratic National Convention shows the impact of this transformational event.

CHICAGO (October 17, 2024) – Today, Choose Chicago and the Chicago 2024 Host Committee announced the release of a comprehensive report detailing the economic impact of the 2024 Democratic National Convention (DNC) on Chicago. Commissioned by Choose Chicago and produced by Tourism Economics, the report shows that the DNC greatly exceeded economic expectations, driving a total economic impact of $371.4 million for Chicago’s economy, the most in Democratic convention history. The convention also supported 3,211 total jobs and generated $28.7 million in state and local tax revenues.

“We knew that when Chicago was chosen to host the 2024 Democratic National Convention it would be a rousing success for the city and the state of Illinois,” said Governor JB Pritzker. “The proof is in the numbers, with millions in tax revenue generated and significant support for jobs, this success was made possible by the hard work of everyone involved. Thanks to the collaboration of leaders at every level of government, organized labor, law enforcement, Chicago’s hospitality and events industries, the DNCC, and the Host Committee, we showed the world that we were prepared to rise to this challenge.”

“Once again we demonstrated that in Chicago, we make no little plans,” said Mayor Brandon Johnson. “2024 marked the 26th time we have hosted a major political party’s nominating convention in this city, and the figures in this report make it clear that the event was transformative. We did it with the expertise that our full force of government is known for throughout the world. I applaud the efforts of our residents and every worker at our venues, hotels, restaurants, and in the City of Chicago who played a part in making this event a success. We should all be proud of this monumental accomplishment.

Of the $371.4 million economic impact, approximately $221.2 million is attributed to direct spending by event visitors and convention operators; the remaining $150.2 million is attributed to indirect and induced spending (e.g., spending generated by supply chain effects and spending by employees of convention-related businesses throughout the wider economy). Approximately $58.7 million of direct spending came from off-site visitor spending at locations like hotels, retail stores, restaurants, venues, and more, while $162.5 million was the result of operational spending by the DNCC, Host Committee, third-party organizers, and other stakeholders.

“The DNC generated significant direct and induced economic impact for Chicago, with thousands of visitors coming early, staying late, and taking in all that our city has to offer,” said Choose Chicago Interim President and CEO Rich Gamble. “While this direct impact is profound, I believe the long-term benefits of hosting the DNC will be even greater. We showed off Chicago’s expertise in hosting events of every size and profile—and the world took notice. We garnered widespread positive media coverage across global mainstream media and industry publications, and we are leveraging this success to attract more large-scale events of all varieties to our city in the coming years.”

“This August we showed the world what Chicago is capable of achieving when we work together,” said Glenn Eden, Board Chair at Choose Chicago. “We put on the most impactful, equitable, and sustainable major political party convention in our nation’s history, and we did it all free from major incidents or disruptions thanks to our public safety and law enforcement partners. The success of this event is a testament to the power of planning and true collaboration. I am proud of the amazing team that worked on every stage of this project—from mounting a bid process to closing out the last day of the DNC.”

The increase in total economic impact compared to previous conventions was due in large part to higher levels of operational spending by the Democratic National Convention Committee, the Chicago 2024 Host Committee, and third-party organizations. This was thanks to a larger grant from the federal government for security expenses ($75 million in 2024 vs $50 million in 2016) as well a significant increase in the percentage of operational funds spent by the DNCC and the Host Committee that went to local vendors—63% of their spending ($75.5 million) went to city of Chicago vendors, the highest local spend ever for a political convention.

“The 2024 Democratic National Convention showed the world Chicago’s unparalleled ability to host, unite, and inspire,” said Chicago 2024 Host Committee Executive Director Christy George. “We shattered the previously held fundraising records for both parties, brought more than $300 million in economic impact to the city, and maintained our commitment to using diverse, local vendors whenever possible. This success reflects the strength of our local, state, and federal partners and sets a new standard for future political conventions.

The Host Committee, the Democratic National Convention Committee (DNCC), and Choose Chicago were committed to ensuring that the 2024 DNC would drive equitable economic impact throughout Chicago and Illinois. In addition to 63% of the DNCC and Host Committee’s operational expenditures going to Chicago businesses, nearly half (47%) of the Host Committee’s discretionary spending within the city of Chicago supported minority- and women-owned and operated venues, contractors, and vendors. Moreover, the Host Committee meaningfully engaged all 77 community areas in Chicago through direct spending, service projects, hiring vendors, events, and more.

“Managing the exposition services contract for the Democratic National Convention was transformational for Show Strategy, my team, my community and my family,” said Glenn Charles Jr., President and CEO of Show Strategy. “Being the first Black-owned business in this capacity for a major political convention, I am incredibly honored to have been a part of such an historical moment for our city and our country. I know there are talented Chicagoans across the city that have the skills to succeed in the hospitality, events management and the general contracting industries but might not see it as a viable career path; I hope to be an example of what hard work, passion and success can look like.”

Philadelphia-based Tourism Economics is a division of U.K.-based Oxford Economics. The company is known for producing economic impact forecasts and reports for city-wide conventions, Olympic games, festivals, and concerts, including the 2016 Democratic National Convention in Philadelphia. For this report, Tourism Economics prepared a comprehensive model using multiple primary and secondary data sources. Impact modeling was based on the widely used IMPLAN Input-Output (I-O) model for the Chicago economy.

In addition to providing logistical and convention services support to the DNCC and Host Committee, Choose Chicago staff worked to promote the city as a premier destination for both leisure travel and events ahead of and during the convention. This was accomplished through a range of strategies and tactics, including encouraging convention attendees to come early and stay late; producing a series of twelve visitor guides on a range of topics; organizing a familiarization trip around the DNC for current and prospective convention clients; and staffing “Chicago style bars” at welcome parties for delegates and visiting media.

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About Choose Chicago: Choose Chicago is the official sales and marketing organization responsible for promoting Chicago as a global visitor and meetings destination, leveraging the city’s unmatched assets to ensure the economic vitality of the city, its residents and our partner business community. Follow @choosechicago on Facebook, Instagram, LinkedIn, TikTok and X/Twitter. For more information, visit choosechicago.com

About the Chicago 2024 Host Committee: The Chicago 2024 Host Committee (Development Now for Chicago) is a nonprofit, nonpartisan organization responsible for fundraising and ensuring individuals and businesses across Illinois have the opportunity to experience the benefits of hosting the Democratic National Convention in Chicago. The Host Committee liaises between the Democratic National Convention Committee, the City of Chicago, and the State of Illinois to create a world-class experience for all convention attendees and residents, and drives lasting social and economic impact across the Chicagoland area. For more information, visit https://chicago2024.com

Source : Choosechicago