2015 NYIAS Economic Impact

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EXECUTIVE SUMMARY

The New York International Auto Show retained Keen Independent Research (Keen Independent) to estimate the total economic impact of the 2015 Show on the New York City economy. This report examines Show-generated spending in 2015. Members of the Keen Independent study team conducted similar impact analyses for NYIAS from 2000 through 2011. Keen Independent surveyed the following Show participants: • Attendees, including non-local attendees, members of the press, exhibiting company employees and public relations staff; and • Companies and other groups involved in the Show, including auto manufacturers, other exhibiting companies, public relations departments, and the NYIAS producer. Direct spending: $190 million Based on its analysis of expenditure data, Keen Independent estimated that the 2015 NYIAS generated $190 million in direct spending in New York City, which encompassed lodging, restaurants, entertainment, transportation and retail purchases. Indirect impacts: $111 million Keen Independent used an economic model for the five boroughs of New York City—created by the U.S. Department of Commerce—to estimate the additional impact of money spent by non-local visitors and companies. Analysis of the multiplier effect indicated an additional $58 of spending for every $100 in direct spending. APPROACH

TOTAL IMPACT: $301 MILLION

In total, the 2015 New York International Auto Show generated $301 million in spending in New York City, considerably larger than previous years even after accounting for inflation (see Figure 1). Figure 2 on page 4 illustrates spending by category.