This week, thousands of automotive executives, suppliers and members of the news media descend on downtown for the annual North American International Auto Show. According to the New York Times, the auto show is expected to contribute $365 million to the local economy in wages and other spending.
More commonly known as the Detroit Auto Show, the annual event is significant enough to bring estimated 5,000-plus journalists from around the world to the Motor City, along with most of the industry's top executives. After the press-only days, about 750,000 members of the public will visit the newly upgraded Cobo Center to check out the wares from dozens of domestic and foreign carmakers.
The Associated press reports , “business at area hotels for the show is strong: Downtown hotels reported Friday that occupancy is at 85 percent during the press days Monday and Tuesday and about 70 percent from Jan. 18 through Jan 26, when the show is open to the public. Local restaurants and bars should be packed with an estimated 5,000 journalists and 800,000 visitors expected at the show. Overall, the show provides a pick-me-up for the area, illustrated by amped-up coverage from local television stations and highway billboards welcoming visitors and industry types”.
Arthur C. Liebler, a former marketing executive with Chrysler and Ford in an interview with the New York Times said, “My hope is that the show will give visitors an understanding of the real changes happening in the city, and that they’re not just cosmetic.”
Interested in investing in Detroit property? Contact: email@example.com