Chicago Midwinter going virtual another blow to Windy City's economy

By DrBicuspid Staff

September 1, 2020 -- The Chicago Dental Society's decision to convert its February 2021 meeting in Chicago to a virtual conference is yet another blow to the economy of the Windy City and the state of Illinois, according to an article in the Chicago Sun-Times.

The cancellation will deprive Chicago of 29,936 visitors who were expected to occupy 17,305 hotel room nights, according to the article. The Metropolitan Pier and Exposition Authority also reported that August hotel, restaurant, and other tax revenue that the city uses to back its bonds declined by 85%, compared with August 2019. What's more, Moody's Investors said the continued decline in tourism revenue was a "credit negative" for the state of Illinois, which currently has a bond rating of Baa3/negative, the Chicago Sun-Times reported.

Copyright © 2020

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