Quick access to main page (top) Direct access to main contents Quick access to main page (bottom)

Eclipse Fever: U.S. Economy to Gain Billions from Solar Event

Daniel Kim Views  

'스위프트 효과' 안 부럽네…'검은 태양 보러 가자' 美 경제 '들썩'
Taylor Swift performed on the Eras Tour last May. EPA-Yonhap News

As the United States approaches its first total solar eclipse in seven years, the American economy is experiencing an effect similar to the “Swift Effect,” termed the “Eclipse Effect.”

According to CBS News on the 6th (local time), the economic analysis firm Perryman Group predicted that the solar eclipse scheduled for the 8th would generate an economic impact of around $6 billion (approximately 8 trillion 118 billion won), mainly in the hotel and tourism industries. A total solar eclipse occurs when the moon is positioned between the Earth and the Sun, completely blocking the Sun.

'스위프트 효과' 안 부럽네…'검은 태양 보러 가자' 美 경제 '들썩'
The total solar eclipse observed in the United States in 2017. Reuters-Yonhap News

The economic impact is especially expected in the diagonal region stretching from South Texas, where the total eclipse can be fully observed, to Northeast Maine. Ray Perryman, an economist and CEO of the Perryman Group, estimated Texas’s economic impact at around $1.4 billion.

The lodging industry has particularly profited from the eclipse. Jay Peak Ski Resort in Vermont, renowned as a top spot for eclipse viewing, has disclosed that customers began inquiring about and reserving rooms for the 2024 eclipse as early as four years prior. Since then, all 900 rooms at the resort have been booked within a year and a half.

This phenomenon extends beyond the resort. According to AirDNA, a U.S. real estate short-term rental data provider, on the 7th, most Airbnb accommodations along the eclipse path have been fully booked. A map showing Airbnb reservation statuses shows an orange band stretching from the South to the Northeast. Orange signifies accommodations that are nearly 100% booked.

'스위프트 효과' 안 부럽네…'검은 태양 보러 가자' 美 경제 '들썩'
On the 8th (local time), when a total solar eclipse is expected to be observed in North America, Airbnb accommodations along the eclipse observation path have been fully booked and marked in orange. Photo=X (former Twitter) Capture

Companies have launched marketing campaigns for products related to the eclipse. Some beverage and eyewear companies even run promotional events where customers who purchase their products receive free eclipse-viewing glasses. A brewery in New York on the eclipse observation path has also launched a beer to commemorate the eclipse.

The eclipse effect has been assessed to be on par with major U.S. events. Patrick Kaler, CEO of New York’s travel agency ‘Visit Buffalo,’ told the media, “This (eclipse) is akin to the Super Bowl or a Taylor Swift concert.”

Meanwhile, according to NASA, this eclipse will be observed from South Texas to Northeast Maine on the afternoon of the 8th. According to NASA’s analysis, the upcoming total solar eclipse will mark the first observed in the U.S. in approximately seven years, with the next occurrence expected in 2045.

Daniel Kim
content@viewusglobal.com

Comments0

300

Comments0

[LATEST] Latest Stories

  • New mRNA Cancer Vaccine: A Beacon of Hope for Brain Tumor Patients
  • New Research Unlocks Genetic Puzzles of Hypertension
  • The Secret to Maintaining Muscle Strength May Be in Your Biological Clock
  • New Research Suggests Dietary Shifts Can Help Combat Pulmonary Hypertension
  • Eli Lilly's Alzheimer's Treatment Under Review by FDA Advisory Committee
  • How Custom Vaccines Could Soothe Eczema Itch

Weekly Best Articles

  • 10 Surprising Laws That Could Get You Arrested Abroad
  • New mRNA Cancer Vaccine: A Beacon of Hope for Brain Tumor Patients
  • Why Do We Feel Moody at Night? 10 Important Role of Serotonin
  • 10 Hidden Role of Pillows in a Good Night’s Sleep
  • Double Trouble: Two APOE4 Genes Escalate Alzheimer’s Onset
  • Are Men with High Testosterone More Prone to Heart Disease?
  • Ugly Truth About Using Hand Cream as a Face Moisturizer
  • New Research Unlocks Genetic Puzzles of Hypertension
  • Scotland Offers $63,000 to Live on Stunning Islands – Here’s Why
  • Get Ripped in Record Time: The Truth About Muscle Building
  • The Secret to Maintaining Muscle Strength May Be in Your Biological Clock
  • Tourists Turned Off by Rising Costs of Hawaii’s Vacation Rentals

You May Also Like

  • 1
    Blast Off to China: Rise of Space Tourism in Hainan

    LIFESTYLE 

  • 2
    Beat the Heat: How to Prepare Abalone Samgyetang for a Healthy Summer

    LIFESTYLE 

  • 3
    10 Ear Diseases You Should Never Ignore

    LIFESTYLE 

  • 4
    How Anxiety Spreads Like Wildfire After Trauma

    LIFESTYLE 

  • 5
    New York 2027: City Transformed by Cannabis and Autonomous Cars

    LIFESTYLE 

Popular Now

  • 1
    Uber Conquers Africa: 1 Billion Rides and 10 Billion Kilometers

    LIFESTYLE 

  • 2
    Olive Oil Proven to Reduce Dementia-Related Deaths

    LIFESTYLE 

  • 3
    Queen Elizabeth II’s Travel Legacy: Iconic Stays at World’s Finest Hotels

    LIFESTYLE 

  • 4
    Oral Rinse Shows Promise in Early Gastric Cancer Diagnosis

    LIFESTYLE 

  • 5
    Could High-Fat Diets Fuel Alzheimer's? Recent Study Says YES!

    LIFESTYLE 

Weekly Best Articles

  • 10 Surprising Laws That Could Get You Arrested Abroad
  • New mRNA Cancer Vaccine: A Beacon of Hope for Brain Tumor Patients
  • Why Do We Feel Moody at Night? 10 Important Role of Serotonin
  • 10 Hidden Role of Pillows in a Good Night’s Sleep
  • Double Trouble: Two APOE4 Genes Escalate Alzheimer’s Onset
  • Are Men with High Testosterone More Prone to Heart Disease?
  • Ugly Truth About Using Hand Cream as a Face Moisturizer
  • New Research Unlocks Genetic Puzzles of Hypertension
  • Scotland Offers $63,000 to Live on Stunning Islands – Here’s Why
  • Get Ripped in Record Time: The Truth About Muscle Building
  • The Secret to Maintaining Muscle Strength May Be in Your Biological Clock
  • Tourists Turned Off by Rising Costs of Hawaii’s Vacation Rentals

Must-Reads

  • 1
    Blast Off to China: Rise of Space Tourism in Hainan

    LIFESTYLE 

  • 2
    Beat the Heat: How to Prepare Abalone Samgyetang for a Healthy Summer

    LIFESTYLE 

  • 3
    10 Ear Diseases You Should Never Ignore

    LIFESTYLE 

  • 4
    How Anxiety Spreads Like Wildfire After Trauma

    LIFESTYLE 

  • 5
    New York 2027: City Transformed by Cannabis and Autonomous Cars

    LIFESTYLE 

Popular Now

  • 1
    Uber Conquers Africa: 1 Billion Rides and 10 Billion Kilometers

    LIFESTYLE 

  • 2
    Olive Oil Proven to Reduce Dementia-Related Deaths

    LIFESTYLE 

  • 3
    Queen Elizabeth II’s Travel Legacy: Iconic Stays at World’s Finest Hotels

    LIFESTYLE 

  • 4
    Oral Rinse Shows Promise in Early Gastric Cancer Diagnosis

    LIFESTYLE 

  • 5
    Could High-Fat Diets Fuel Alzheimer's? Recent Study Says YES!

    LIFESTYLE 

Share it on...