Did you know that some 50 million people visit Los Angeles and the surrounding area each year? Their financial contribution is some $18 billion per year, mainly within the hospitality and tourism industry. And this industry also serves the local residents of LA, of which there are some 10 million. Indeed, the economy of the city of angels relies on the various hospitality businesses, such as the Bicycle Casino Hotel, the car rental industry, the amusement parks, the travel agents, and more to survive and thrive.
Key Things to Know about the Hospitality Industry in LA
- There are around 678,400 jobs in this industry, 533,940 of which are direct employment.
- In 2013, the hospitality industry contributed $8.9 billion to the economy through employment.
- China is the main supplier of international tourists, which is one of the reasons why the city escaped much of the recession.
Why People Come to Los Angeles
There are several reasons as to why people like to come to LA from all over the world. Those include:
- Entertainment like the TLC Chinese Theater, the Hollywood Walk of Fame, and so on.
- The many Red Carpet events, including the Screen Actors Guild Awards, the Grammy Awards, the Golden Globes, and the Academy Awards.
- The performing arts, including the various theaters, forums, centers, live music venues, performing arts, opera, ballet, and orchestras.
- Cultural attractions such as the Aquarium of the Pacific, the Museum of Modern Art, the Museum of Natural History, the J. Paul Getty Museum, and more.
- The Rose Bowl & Rose Parade, a yearly festival in Pasadena’s Colorado Boulevard. Some 700,000 people attend this event every January and some 25 million people watch it on television.
- The many sporting events, such as the 2015 Special Olympics World Summer Games, the Long Beach Grand Prix, the Dodger Stadium, and the various Major League sports teams.
- The opportunity for fantastic shopping, such as the Grove, the Beverly Center, and Third Street Promenade.
- Business opportunities, building on the city’s economy, larger than that of many countries. Some 5 million overnight travelers came to Los Angeles County in 2013 alone, many of whom came to notable business events such as E3 Expo and the ANIME Expo.
- The theme parks, including Universal Studios, which was visited by some 7.1 million people in 2015/ There is also Six Flags Magic Mountain, with over 100 different rides.
Los Angeles and its surrounding area truly has it all. The climate is Mediterranean in nature and hence always pleasant, yet it offers anything from mountain trails to beaches, and from ski slopes to huge city boulevards. It is a place where people can become creative and where they are always welcomed by the local population. Add to this some of the world’s best accommodation, including the Bicycle Hotel and Casino, and it truly is no wonder that the city is so popular all over the world. It may not be “the city that never sleeps”, but it certainly comes close.