Report: LA2024 Olympics Could Generate $11 Billion for LA’s Economy

A new report conducted by Beacon Economics LLC and the University of California, Riverside School of Business Center for Economic Forecasting and Development found that hosting the 2024 Summer Olympics could boost L.A.’s economy by $11 billion

Mayor Eric Garcetti has been at the forefront of bringing the games to L.A.

Citing Los Angeles’ 1984 role as host city -- for one of the most successful and profitable Olympics in history -- Mayor Garcetti said “We have the right plan in place to make sure that a winning bid brings a lasting Olympic legacy back to our city.”

ABC7 reported:

According to the study, the Los Angeles economy will see an increased output of between $10.62 billion to $11.18 billion. Tourism and games operations will be the sole primary drivers of this positive economic impact, the study states.

Hosting the games will see additional tax revenues between $152 million and $167 million in L.A., reported the study, which also stated that the increased economic output is equivalent to between 74,308 and 79,307 new full-time jobs.

Read the full article on ABC7.