Elizabeth Spicer from California buys solar eclipse souvenirs at the Town Square Market days before the total solar eclipse in Carbondale, Illinois, USA. Reuters
The Great American Solar Eclipse is almost here. Today (April 8), North America – the United States, Canada and Mexico – will witness a complete solar eclipse. In this celestial event, the moon will block all or part of the sun's light and cast a huge shadow on some parts of the world.
The solar eclipse is rare; According to the Royal Museums Greenwich, it will take around 400 years for one location on Earth to witness a total solar eclipse before that part experiences the next one.
Because of this rarity and the fact that it will last longer than the previous one in 2017 – the moon will obscure the sun for up to four minutes and 28 seconds – the solar eclipse is also expected to boost the country's economy, with some predicting an economic one A windfall worth billions.
Chasing the solar eclipse
The complete solar eclipse is a rare, rare event. In addition, many people attach particular importance to witnessing a solar eclipse. These so-called eclipse hunters travel the world to observe the celestial event, regardless of the cost.
Others are also planning to travel to parts of the US where the total solar eclipse can be viewed, such as Texas, Maine, Vermont and more. As people travel far and wide, hotel and AirBnB owners are seeing an increase in their bookings. Campgrounds across the U.S. are also fully booked as people hope to join others at the viewing parties.
In fact, according to Great American Eclipse, an information site that tracks solar eclipses around the world, between one and four million people are expected to travel to see the eclipse, generating profits for hotels.
A man photographs his daughter in front of a billboard in downtown Mazatlan, a day before a total solar eclipse in Mazatlan, Mexico. Reuters
AirDNA, a travel data company, has already reported that about 30 percent of homes listed for short-term rentals on Airbnb or Vrbo are occupied in areas in or around the eclipse's path. Additionally, many rentals and hotels have increased their prices for accommodations leading up to the eclipse.
Steven Wright, the owner of a ski resort in Vermont, told the Washington Post that the 900 rooms at Jay Peak were all sold out. He said a total of about 8,000 people would take part in the resort's celebrations. In comparison, the resort had around 80 bookings on the same day last year.
Jamie Lane, chief economist at AirDNA, said the eclipse is expected to have a Taylor Swift-like effect on hotels and short-term rentals.
This was echoed by Jaime Kurtz, a psychology professor at James Madison University, who told Vox: “The simple now or never of a solar eclipse is extremely motivating.” Collective enthusiasm for the eclipse could also be a driving force. It connects.”
A pair of eclipse glasses is worn by a statue of George Washington in Houlton, Maine. Millions of people flocked to areas across North America that lie in the “path of totality” to witness a total solar eclipse. AFP
And it's not just hoteliers and AirBnB owners who are expecting a stroke of luck. Since a large number of people will be traveling, other businesses such as restaurants, souvenir shops and others are also expected to generate revenue.
Michael Zeiler, who runs the Great American Eclipse website, summed up the eclipse's impact on travel quite well. He said, “That’s the equivalent of watching 50 Super Bowls from Texas to Maine at the same time.”
Eclipse goodies
The solar eclipse not only brings a boom to the tourism industry. Other companies are also jumping on the bandwagon and offering Eclipse goodies. Sellers of donuts, pizza, smoothies and chips see the eclipse as a marketing bonanza and offer various eclipse-themed deals to mark the day. For example, on the day of the solar eclipse, Pizza Hut is offering its customers a “Total Eclipse of the Hut” deal where each large pizza is priced at $12 (Rs 999).
And donut maker Krispy Kreme is offering the Total Solar Eclipse Donut, a glazed treat dipped in black chocolate frosting, topped with silver sprinkles, squirted with buttercream made from Oreo pieces and with an Oreo cookie in the middle.
Solar eclipse souvenir buttons are sold at the Carbondale Spring Fest, days before the total solar eclipse in Carbondale, Illinois. Reuters
Other companies also offer solar eclipse-themed goodies. Rohrback Brewing Co in Rochester, New York, a city on the path of totality, makes Rohrbach Totality Black Lager.
In addition to eclipse-themed souvenirs and treats, companies that make eyeglasses are also seeing an increase in their sales. Amazon also offers great discounts on solar eclipse glasses. And the demand for these glasses is so high that there are scams and false claims about the product's safety.
Find out more about our solar eclipse explanations here
Solar Eclipse 2024: How unprotected gaze can harm your eyes
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Explained: How different religions deal with a solar eclipse
The numbers game
So how much is the US economy expected to benefit from the eclipse? According to an estimate by Perryman Group, an economic analysis firm, the eclipse could bring a financial boost of up to $6 billion (Rs 50,000 crore) thanks to increased spending on hotels, restaurants, travel and more. It is said that the eclipse is likely to attract more interest than the previous total solar eclipse in North America in 2017 because its duration is longer and the next opportunity to observe a similar event in North America will not be until 2044.
A tattoo artist places a solar eclipse tattoo on a woman's arm in Houlton, Maine. In addition to tourism, other companies also recorded an increase in sales. AFP
Amy Howell, director of tourism, marketing and communications for the Indiana Destination Development Corporation, told Forbes that it would be the largest tourism event for Indiana. “People will not only need shelter and food, but also souvenirs, memorabilia and things to do before and after the eclipse.” Between 150,000 and 600,000 people are expected to travel to various Indiana destinations to watch the eclipse to experience. And that will make cash registers ring everywhere.
According to a report, Central Texas alone is expected to boost the economy by $1.4 billion (Rs 11,661 crore). Cities like Austin saw record hotel bookings, and restaurants are also seeing higher traffic due to the eclipse.
Fox News reported that while Texas would rake in an estimated $1.4 billion, New York State could expect a direct economic boost of $250 million (Rs 2,082 billion), followed by Indiana with $177.5 million -dollars (Rs 1,474 crore) and Ohio at US$ 166 million (Rs 1,382 crore) and Pennsylvania at US$ 115.9 million (Rs 966 crore).
Dan Schneiderman, solar eclipse partnership coordinator at the Rochester Museum of Science, told CBS News why this eclipse will boost the economy: “It's not just a scientific phenomenon, but also an emotional one.”
A person photographs a NASA countdown display ahead of the solar eclipse, which will occur on April 8 in parts of the United States and Canada. Reuters
Philip Powell, a professor of economics at Indiana University in Bloomington, further explained that unique events like the solar eclipse attract visitors who have disposable income to spend over several days. “Multiply the impact of a typical large concert or sporting event by ten to understand the potential economic impact,” he said.
An example of spending big is Julieann Taylor, 66. A retired nurse from Indiana is determined to see the eclipse and will be traveling to Arkansas with her husband, sister, adult son and dog, according to a Washington Post report drive to witness the solar eclipse event. And how much did she spend? She spent $2,500 on rooms and other expenses.
A long-term effect
Experts and economists also point out that today's solar eclipse could have long-term effects on the economy.
Bulent Temel, an assistant professor of economics at the University of Texas at San Antonio, San Antonio, told TIME: “Every single one of these visitors is also a potential future visitor to the same area.” In the long term, the economic impact would be significantly magnified. “
John Downen, director of impact analysis at Camoin Associates, shared this observation. Speaking to TIME, he said: “It definitely represents an opportunity, particularly in smaller communities, to showcase themselves and hopefully gain some future repeat visitors.”
With input from agencies
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