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The Benefits of Remote Work and Long Weekends for Local Economies

How distant work is altering weekends


Distant work altering the weekend and boosting financial system

05:44

For the various U.S. employees who’ve clung to distant work within the aftermath of the pandemic, weekend journey has turn out to be so much simpler.

Staff in assorted industries are nonetheless logging in 5 days per week, however they do not have to attend till Friday night to hit the street for the weekend, or rush again to their desks come Monday morning. And It seems employees’ taking longer journeys additionally advantages the financial system by boosting spending on providers. 

This shakeup of the standard work week because of elevated flexibility for employees helps enterprise like motels and eating places that profit from folks touring extra, Axios markets correspondent Emily Peck advised CBS Information. Distant work means folks “are touring extra on the weekends and so they’re spending more cash doing that touring,” she stated.

In the meantime, high-profile occasions like Taylor Swift’s sold-out live performance tour are good for native economies. 

“Folks have purchased tickets to those live shows and turned them into massive occasions,” Peck stated. “You keep in a resort possibly two nights, you are going out to eating places, you are spending much more cash.”

Certainly, followers flocking to see the pop artist stay has been so useful to native economies that it is even been dubbed the “Taylor Swift impact.” The Federal Reserve famous that Could was the strongest month for resort income in Philadelphia for the reason that onset of the pandemic, largely because of Swift. 


Taylor Swift’s Seattle live shows trigger seismic exercise, geologists say

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Sturdy spending on providers is a shiny spot within the financial system, Peck famous. In the course of the pandemic, when attending a live performance was out of the query, Individuals have been as a substitute inclined to spend on classes like house furnishings. However that sample has shifted.

“Companies spending is basically holding up at the next fee than items spending,” Peck stated. “It is actually caught round longer than revenge spending, and it is only for lots of people a brand new way of life, a brand new approach of being the place you take a look at that two day weekend and also you see extra potentialities.”

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