Wednesday, August 1, 2012

Same-Sex Economics

Though many people think that doing good precludes doing well, this needn't be true. A case in point: same-sex marriage.

A report issued by Mayor Bloomberg's office states that same-sex couples account for about 10 percent of the marriage licenses issued by the city since last July. This accounted for $16 million in direct revenue, and considerably more in overall economic impact, including a total of 235,000 hotel room nights booked at an average daily room rate of $275.

Indeed, more than 8,000 same-sex couples have married in New York City in the year since the state legalized gay marriage, generating $259 million for the city's economy.