Although 2023 is shaping up to be a positive year after the conference hall largely languished during the pandemic, forecasts beyond this year show worrying signs of weakness on the horizon.
Thnx to the policies of our Covid overlords, restaurants and many other businesses that supported and relied on businesses in the area they were located are dying for a lack of patrons that frequented their establishments before Covid.
The entire Financial District of San Francisco is probably only at 20%-30% utilization.
Same with Downtown Oakland
I have no idea how they would come back anytime soon.
In fact, a recent article "The San Francisco Standard", an online publication, had this to say:
Although 2023 is shaping up to be a positive year after the conference hall largely languished during the pandemic, forecasts beyond this year show worrying signs of weakness on the horizon.
While tourism officials are expecting robust activity at Moscone Center this year, the forecast looks a lot less rosy in 2024 and beyond, according to projections presented at SF Travel’s marketing summit Tuesday.
Events at Moscone provide much-needed foot traffic to Downtown small businesses, a flood of direct spending from event organizers and a foundation of hotel bookings for the broader hospitality industry. In 2022, for example, convention and event attendee spending reached around $587 million.
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Such glowing reports from the local newscaster and you see this projection that The Moscone Center will not recove their revenue and traffic anytime soon and projections out to the year 2030 show they expect, at best, to have only some 20% of hotel bookings when compared to 2019.
Great job city, county and state leaders.
You have truly saved the planet from greenhouse gas emissions.
The COVID Overlords sure screwed up the country, didn't they? I expected we'd bounce back from COVID and things would be back to normal very quickly. Based on what I've seen happening and the death spirals initiated all over the place, this overhang could last 20 years or more.
The declining budgets in cities mean less policing which will further embolden the criminals and those deciding to take their own reparations while the getting is good.
If the reparations scam gets traction, the death spirals will accelerate as will the exodus of people from blue states. Cities that are finding there's no money to pay reparations (which, in the end, will be ALL cities) are enacting real estate transfer taxes to pay. This means that, when you decide to leave your BLUE paradise, you will pay money that goes into the reparations pot. The GD government did not repeal the Obamacare 3.8% tax on your real estate transactions, so selling your house means you are already paying the "underserved and oppressed peoples'" health care.
The nation is so f&$ked.
Christopher Rufo has been writing some outstanding essays on this mess lately. Here's his latest: "Radicalism Reborn."
I've yet to see anybody come up with a credible plan to undo the 50-70 years of destruction wrought by leftists.
For 10 years I went to the moscone center for marketing conferences.
Every year more zombies in the streets.
Conferences moved away from SF.