Gay Marriage As Economic Generator

There are many reasons to support gay marriage but “increasing tourism revenue” is one of the weaker ones*:

Legalizing same-sex marriage in New York would be a monetary match made in heaven for the city and the state, city Comptroller William Thompson said yesterday.

His report found that allowing gay and lesbian couples to marry could yield $142 million in economic benefits for the city within three years and, on a net basis, add about $184 million in spending to the state’s economy. Thompson said the money would primarily derive from residents and visitors spending for their big day, as well as expenditures for their out-of-town guests.

“Overall, it is clear that contrary to some anti-equality arguments, marriage equality would in fact result in economic benefits to New York City and New York state in both the short- and long-term,” Thompson said. “New York City and New York state are losing money right now by not moving forward.”

Thompson said other potential outcomes of legalizing same-sex marriage could also include lower recruiting costs for local firms and an expanded pool of qualified candidates. Greater economic security from marriage may also lead to more couples buying homes, generating additional tax revenue.

Using Massachusetts as a guide, Thompson estimated that 51 percent of same-sex couples statewide would marry if given the opportunity. Within three years of legalization, Thompson estimated more than 56,000 couples would travel from out of state to marry in New York, resulting in spending of about $137 million. New York City, meanwhile, would receive an estimated $175 million boost to its economy during those first three years, largely from hotels.

*Question: Does the City Comptroller’s staff really sit around coming up with economic reasons to support gay marriage (What, is the Public Advocate busy or something? Just kidding!) and if yes, then tourism is all they could come up with?