The Oscars

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We all know last week the 85^th Gala of The Oscars took place. Everybody has been talking about who won, who was the one with the best dress and many anecdotes that occurred during the Gala, however nobody really focused on the many millions this business moves not only on the preparation of the most famous gala in the world but the tourism it moves.

Obviously, for the candidates and final winners the Oscars are an extra source of income, prestige and recognition being also the most famous annual gala around the world, which spends over a million dollars. The Economic Development Council of Los Angeles estimates that the annual benefit gala produces benefits up to 130 million dollars for the city. Nearly 90 millions are from television rights for broadcasting the Gala, which has been the ABC channel for years.

New York & Company, which is the official marketing organization and tourism of New York City offered New Yorkers and visitors the opportunity to participate in the live broadcasting of the Oscars from Los Angeles and in many other activities that took place. The week of activities culminated with the actual reception and retransmission of the gala of The Oscars.

Also, we have to take into consideration all the services that needed to be increased in the city during the week when the Oscars took place. Such as; increase in normal planes due to the enormous amount of visitors that LA receives during the Gala, increase in private planes landing in the private LA airports due to the huge amount of celebrities arriving to the Gala, restaurants, shops or the catering services for the Gala. Many tourists and celebrities spent the night and weekend in the city, so hotel occupation increased drastically, causing a price rate rise.  Also due to the Gala services such as; security, police, reporters, journalists, photographers were needed also creating a huge increment on their expenses in LA during their stay.

            It is incredible what a Cinema Gala can actually move and affect tourism as well, increasing LA’s visitors during that weekend to crazy figures and generating an enormous amount of benefits for the city.