Tourism Economics study finds local and state impact exceeding expectations
Contact: media@mke2024hostcommittee.org
Milwaukee— The MKE 2024 Host Committee released the final economic impact report for the 2024 Republican National Convention, which took place July 15-18, 2024. The report, commissioned by the MKE 2024 Host Committee and conducted by Tourism Economics, revealed a total economic impact for the convention week of $321.5 million on the state and local economy – greatly exceeding initial estimations and expectations. The report estimates the convention generated $216.3 million in direct spending. Read the full report here.
“Milwaukee embraced the convention with open arms. Tens of thousands of Republican delegates and members of the media who traveled here from around the country were raving about our city after July’s convention,” said Reince Priebus, Chairman of the MKE 2024 Host Committee. “We’re hopeful that putting Wisconsin on a major international stage will lead to more opportunities for the city in the future.”
“From start to finish, the convention week allowed us to showcase the best Milwaukee has to offer,” said Ted Kellner, CEO of the MKE 2024 Host Committee. “We hope that this report serves as a valuable resource for understanding the positive and lasting effects of the convention on Milwaukee and its residents. The report is an important milestone in highlighting that when Milwaukee works together, we can shine on an international stage.”
“Our local partners played an integral role in helping pull off the best convention in Republican Party history,” added Alison Prange, President and COO of the MKE 2024 Host Committee. “Thanks to Visit Milwaukee, the Metropolitan Milwaukee Association of Commerce, and everyone who made this convention possible. In the coming weeks, we plan to announce our intentions to give back millions of dollars in leftover funds directly to the community.”
“From filling the Baird Center to a made-for-TV production in Fiserv Forum, Milwaukee proved itself to be a world-class convention destination. Our entire goal with this convention was to help put Milwaukee on the map for future events, and it already has,” said Peggy Williams-Smith, President and CEO of Visit Milwaukee. “Meeting planners from around the country have cited the convention as the reason they want to bring their meetings here. We’re excited for what the future holds because of our success in 2024.”
Philadelphia-based Tourism Economics is a division of U.K.-based Oxford Economics. The company produces economic impact forecasts and reports for conventions, including the 2024 Democratic National Convention in Chicago. Tourism Economics calculated the economic impacts of the 2024 Republican National Convention’s direct spending using a regional Input-Output (I-O) model based on a customized IMPLAN model for the Milwaukee economy. IMPLAN is recognized as an industry standard in local-level I-O models.
The MKE 2024 Host Committee is a nonpartisan, non-profit organization that welcomed the 2024 Republican National Convention to Milwaukee. Since the end of the convention, the organization has focused its efforts on charitable contributions to the Milwaukee community.
REPORT HIGHLIGHTS:
- The report finds that the total economic impact from the 2024 Republican National Convention was $321.5 million.
- Operational spending related to the convention was $162.2 million, while off-site visitor spending was $54.1 million.
- The report calculated that the operational spending and off-site spending by the convention supported 3,441 part-time and full-time jobs locally.
- Tourism Economics calculated that the convention generated $16.8 million in state and local taxes.
