Referencing an AP article found here at Yahoo!
We see that North Carolina’s High Point Market which is a furniture expo attendance has dropped, bucking the trend for adding more attendees each year. This likely is due to the overwhelming call to support boycott of the state due to it’s denial of equal rights to simply use a bathroom.
Using the numbers found on the article which states it’s bi-annual display brings in $5 billion with a current 79,000 attendees, I calculated that each of those attendees spending is $63,291. That doesn’t sound right but maybe it’s a trade show so let’s go with it.
That means with a drop in attendance of 1,000 due to the new law, or maybe it would be somewhat more if we calculate the growth that would have been there as well, let’s just stick with the 1,000 drop since the boycott of North Carolina was initiated, that gives us a number of $63,291,000 lost for business in that state during this show alone. How much more is lost by concerts being completely cancelled and other travel plans being cancelled?
1,000 x $63,291 = $63,291,000
Then again this calculation may be too simplistic. Just because 1,000 attendees did not go to this trade show, doesn’t mean that they don’t buy from the vendors that attend that trade show anyway!
At trade shows the vendors are based in locations all over the country and world. Many products are displayed and orders are taken directly on the show floor. This is where these numbers come from of the “bi-annual display bringing in $5 billion”. There is no way that $5 billion is all for businesses located in that state. The products sold may be unique and the buyers though boycotting the state and not attending, thus not spending on hotels and such, will make a minor dent in that revenue, but they may buy all those items they would have placed orders for at the show from their computers anyway.
If we just look at all 78,000 attendees staying in a hotel for a few days or week, that amount could be $1000 per person. If 1000 didn’t attent, that’s a loss of $1,000,000. Then there’s the food they didn’t eat, say $1000 for a week times 1,000 who didn’t attend, that’s another $1,000,000.
So basically, leaving the drama behind, we see that there’s realistically a loss of revenue in the $2 million range.