"Get ready for the solar eclipse: A $6 billion economic boost on the horizon!"

The total eclipse on April 8 will bring an economic boom to cities and towns in more than 12 states, from Texas to Vermont.

"Get ready for the solar eclipse: A $6 billion economic boost on the horizon!"
entertainment
06 Apr 2024, 03:48 PM
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Steve Wright reminisced about the first time he learned of the total eclipse on April 8 four years back. It all started when a guest reserved the inaugural room for the occasion at Jay Peak Resort in Vermont. Wright, who serves as the resort's general manager, began to pick up on discussions from other ski resorts.

"They were saying, 'The buzz is real'," he recounted, noting that the level of excitement among visitors for the eclipse was unparalleled in his experience.

This early anticipation proved to be accurate, as Wright pointed out that all 900 rooms at Jay Peak have been reserved for April 7 — each priced at around $500 per night — for a year and a half. In contrast, the resort had only about 80 bookings on the same date last year. Approximately 800 rooms have been booked for April 8, the day of the eclipse.

Undoubtedly, travelers are embracing the essence of this rare celestial phenomenon, providing a significant boost to local establishments along the eclipse's direct path.

One couple is getting married at the 4,000 summit of Jay Peak during the eclipse, while the resort will have a Pink Floyd cover band paying "The Dark Side of the Moon" at the base. And with more than a foot of snow forecast to arrive just ahead of the eclipse, skiers are also likely to hit the slopes as the moon and the sun align. 

Wright said he expects his resort to book as much revenue over the April 5-8 weekend as it typically would during the entire month of April. 

"It has been well advertised that we're at the end of the path of totality and we will have the best look at the eclipse, at over three and a half minutes," he told CBS MoneyWatch, adding the event is giving a boost not just to Jay Peak, but to the entire region, a rural part of Vermont that is known for scenic farms and ski areas. "The whole community is sold out."

The total solar eclipse isn't just throwing shade across the dozen states in line for the astronomical event — it's also shining an economic bonanza on states from Texas to Vermont. The eclipse could bring a financial boost of as much as $6 billion, thanks to increased spending on hotels, restaurants and travel, according to an estimate from the Perryman Group, an economic analysis firm. 

"The eclipse event has truly sparked a wave of excitement," stated Ray Perryman, an economist and CEO of the Perryman Group. "It will be a brief but intense experience, offering cities a chance to showcase themselves, including the smaller ones."

The eclipse is poised to give local economies a boost, largely due to its timing, Perryman highlighted. With Americans reverting to their pre-pandemic travel patterns and the event falling in the spring season, there is a heightened desire for travel compared to winter. 

"Moreover, the rarity of this eclipse adds to its allure," he added.

The next total solar eclipse visible in the U.S. is not expected until 2045, as per NASA.

"This event is not just a scientific marvel, but also an emotional one," remarked Dan Schneiderman, the eclipse partnership coordinator at the Rochester Museum of Science, in conversation with CBS News. 

Bill Nye and Dark Side Stout

April 8 will witness a host of viewing parties in cities, big and small, located along the eclipse's trajectory. Festivities range from the Eclipse-O-Rama 2024 featuring science guru Bill Nye in Fredericksburg, Texas, priced at $325 per ticket, to a NASA-backed gathering at the Indianapolis Motor Speedway (offering tickets at a more affordable $20 each.)

As viewing parties for the upcoming total solar eclipse draw near, companies are getting creative with special commemorative items to attract attendees. Rohrback Brewing Co. in Rochester, New York, a city in the path of the totality, is brewing the Rohrbach Totality Black Lager for the occasion. Meanwhile, Switchback Brewery in Burlington, Vermont, another city in the totality path, will be serving Dark Side Stout at its event on April 8.

"It's a great opportunity to market our city, and as a place where people might want to live one day," said Malik Evans, the mayor of Rochester, New York. The city, once a hub for manufacturing giants like Xerox and Eastman Kodak, sees this event as a chance to showcase its appeal.

According to Perryman's estimates, Texas is expected to see the largest economic gains from the eclipse, with a projected $1.4 billion boost. This is attributed to the state's large population and the presence of major cities like Austin and Dallas in the path of totality.

Vermont, with a population of 650,000, anticipates up to 200,000 visitors for the eclipse, as reported by CBS Boston. The state is estimated to receive an economic boost of around $230 million, a significant increase considering its annual GDP of about $43 billion.

The Price of Solar Eclipse Glasses

As the solar eclipse approaches, Americans are investing in proper gear to safely observe the event. It's crucial to protect your eyes during the eclipse as looking at it without adequate eye protection can cause permanent damage to your vision. Regular sunglasses do not provide sufficient shielding to prevent harm to your eyes.

For safe viewing, individuals are advised to purchase solar eclipse glasses that have been approved by the American Astronomical Society and meet the ISO 12312-2 standard. A pack of six glasses with this certification is available on Amazon for approximately $16, which amounts to less than $3 per pair.

Alternatively, consumers can acquire eclipse glasses through promotions at various retailers. For example, Sonic Drive-In is offering a Blackout Slush Float, and each purchase of this celestial-themed beverage includes a complimentary pair of eclipse viewing glasses. Warby Parker, an eyeglass company, is also distributing eclipse-viewing glasses until April 8.

Although the total solar eclipse will only last a few minutes on April 8, businesses are expected to experience increased activity throughout the weekend. Perryman highlighted the potential economic benefits for small towns, likening the event to a concert that draws people in and encourages them to explore other attractions.