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Research Note: Hail to the Chief: Assessing the Economic Impact of Presidential Inaugurations on the Washington, DC, Local Economy

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  • Robert Baumann
  • Bryan Engelhardt
  • Victor A. Matheson

Abstract

While presidential inaugurations routinely attract hundreds of thousands or more visitors to Washington, DC, for the quadrennial celebration, the authors' examination of employment from the Current Employment Statistics survey from 1939 to the present, and both employment and unemployment from the Current Population Survey from 1977 to the present, finds no noticeable effect from the event on either variable. The residents of DC should not expect an inauguration to make them any richer and the city should not count on any economic benefits generated by the event to cover the significant costs of hosting it.

Suggested Citation

  • Robert Baumann & Bryan Engelhardt & Victor A. Matheson, 2010. "Research Note: Hail to the Chief: Assessing the Economic Impact of Presidential Inaugurations on the Washington, DC, Local Economy," Tourism Economics, , vol. 16(4), pages 1081-1087, December.
    • Handle: RePEc:sae:toueco:v:16:y:2010:i:4:p:1081-1087
    DOI: 10.5367/te.2010.0019
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    References listed on IDEAS

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    1. Robert Baade & Victor Matheson, 2004. "The Quest for the Cup: Assessing the Economic Impact of the World Cup," Regional Studies, Taylor & Francis Journals, vol. 38(4), pages 343-354.
    2. Hagn, Florian & Maennig, Wolfgang, 2008. "Employment effects of the Football World Cup 1974 in Germany," Labour Economics, Elsevier, vol. 15(5), pages 1062-1075, October.
    3. Robert A Baade & Robert Baumann & Victor A Matheson, 2009. "Rejecting “Conventional” Wisdom: Estimating the Economic Impact of National Political Conventions," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 35(4), pages 520-530.
    4. Robert A. BAADE & Robert W. BAUMANN & Victor A. MATHESON, 2010. "Slippery Slope ? Assessing The Economic Impact Of The 2002 Winter Olympic Games In Salt Lake City, Utah," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 31, pages 81-92.
    5. Robert A. Baade & Robert Baumann & Victor A. Matheson, 2008. "Selling the Game: Estimating the Economic Impact of Professional Sports through Taxable Sales," Southern Economic Journal, John Wiley & Sons, vol. 74(3), pages 794-810, January.
    6. Stephanie Jasmand & Wolfgang Maennig, 2008. "Regional Income and Employment Effects of the 1972 Munich Summer Olympic Games," Regional Studies, Taylor & Francis Journals, vol. 42(7), pages 991-1002.
    7. Dennis Coates & Brad R. Humphreys, 2002. "The Economic Impact of Postseason Play in Professional Sports," Journal of Sports Economics, , vol. 3(3), pages 291-299, August.
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    Cited by:

    1. Clay Collins & Joshua C Hall, 2022. "Presidential inauguration tourism and hotel occupancy: Evidence from the Obama and Trump inaugurals," Tourism Economics, , vol. 28(1), pages 83-88, February.

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