Tel Aviv Pride parade visitors to welcome a whopping $40 million

Published on : Friday, June 9, 2017

Tel Aviv PrideFrom a one week event to a week-long bonanza, the Tel Aviv Pride parade has expanded providing city businesses a raking in revenues. This year, its expected 140 million shekels ($40 million).

As per the organizers report, on Friday, more than 200,000 people are expected to march in Tel Aviv’s 19th Pride parade which would start from Gan Meir to the beach to a party at Charles Clore Park. The organizers of the event expect about 30,000 foreign tourists this year.

The hotels predict that about 4,000 tourists will stay at various city hotels.

In 2016, half the tourists visiting Tel Aviv for Pride Week rented apartments, according to the municipality, majorly through Airbnb. While others stayed with friends or acquaintances, or stayed outside Tel Aviv. The hotel crowd is older, 44 on average compared with 37 among renters. The city highlights that over half of the visitors during this period were return visitors staying five days on an average. Tel Aviv invests more than 2 million shekels in Pride events, the only government agency to foot the bill.

However, the city anticipates that Tel Aviv businesses will enjoy a major boon in revenue of about 140 million shekels including clubs, restaurants and transportation services. The municipality expects the average Pride tourist to spend about 960 shekels a day, compared with 550 shekels for the average tourist, based on Tourism Ministry statistics.

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