logo
#

Latest news with #BusinssInsider

Bezos wedding brought $1.1 billion in economic value to Venice — that's $5.6 million per guest
Bezos wedding brought $1.1 billion in economic value to Venice — that's $5.6 million per guest

Yahoo

time18-07-2025

  • Business
  • Yahoo

Bezos wedding brought $1.1 billion in economic value to Venice — that's $5.6 million per guest

Most of the value was in the tidal wave of global media attention. Jeff Bezos and Lauren Sánchez didn't just host a lavish wedding in Venice — they supercharged the city's economy in the process. According to a new analysis from Italy's Ministry of Tourism cited in Business Insider, the June 2025 nuptials generated an estimated $1.1 billion in total economic value for Venice. That's nearly 68 percent of the city's entire annual tourism revenue — and it came from a guest list of just 200 people. How is that possible? More than $1 billion of the estimated impact came from global media exposure alone, according to the official report as cited in Businss Insider. Only about $33.3 million was attributed to actual spending on things like venues and guest expenses — with the rest stemming from increased attention on Venice, driven by nonstop coverage across social media and international press. To put the numbers in perspective: Average tourist value to the city: $125 per person Bezos wedding guest value: $5.6 million per person Local officials say the event also made a dent in Venice's infrastructure. At one point, the wedding party reserved 30 out of the city's 280 water taxis, or more than 10 percent of the entire fleet — a striking visual as stars like Oprah Winfrey and Kim Kardashian zipped through the canals. The report — which pulled data from the Italian consultancy JFC, regional officials in Veneto, and media monitoring sources — paints the wedding as an economic juggernaut. As for Venice, the $1.1 billion boost was a windfall — that came without the particular kind of strain generated by 13 million annual tourists, but nevertheless with plenty of friction in the form of high-profile protests and logistical hurdles. Solve the daily Crossword

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store