Los Angeles [US], September 18: A new analysis details how the LA28 Olympic and Paralympic Games are poised to boost workers, benefit business growth, and uplift communities in Greater Los Angeles. The study from the Los Angeles County Economic Development Corporation (LAEDC) estimates that planning, preparing for, and hosting the Games could generate between approximately $20.5 billion to $40.6 billion in economic output and support approximately 126,000 to 224,000 jobs across Greater Los Angeles.
Conducted by LAEDC's Institute for Applied Economics and commissioned by LA28, the study provides a comprehensive assessment of the economic and fiscal impacts associated with the Games across the multi-year period leading up to and including 2028. LAEDC independently developed economic modeling to reach its conclusions.
"The scale and breadth of the economic activity associated with the 2028 Games is significant, even when viewed through a conservative lens," said Stephen Cheung, President & CEO of LAEDC. "Our analysis shows the impact reaching across the regional economy, from jobs and labor income to local businesses, visitor spending, and long-term investment. Importantly, these findings reflect a range of potential outcomes, providing a transparent picture of the economic benefits the Games could generate for Greater Los Angeles."
"The impact of the LA28 Games will be felt far beyond the moment the last medal is awarded," said Reynold Hoover, CEO of LA28. "This study shows the tremendous opportunity we have to support jobs, open doors for local businesses, and drive investments that strengthen communities across Los Angeles. We're focused on making the most of this moment and building a legacy that benefits Angelenos for generations to come."
The study examines five major sources of economic activity associated with the Games: LA28 operational spending, Games-related transportation and security spending, capital investment, non-resident visitor spending, and spending by independently funded Games stakeholders. Across those channels, LAEDC found that the economic benefits extend to workers, businesses, and communities throughout the region.
Source: Emirates News Agency
