Monthly Economic Report: Philadelphia an Economical Vacation Destination


Audit Date: July 31, 2012

Audit Categories

  • Financial
Controller: Alan Butkovitz

Executive Summary


For Immediate Release:
July 31, 2012

Contact: Brian Dries
215-686-8869

Philadelphia an Economical Vacation Destination
Controller Alan Butkovitz’ latest economic report shows Philadelphia’s amenities
are about 25% less than cities like New York City or San Diego

June 2012 Economic Report

PHILADELPHIA –With the vacation season at its peak, enjoying a night out in Philadelphia can be an economical vacation while still enjoying the amenities that all big cities can offer. According to City Controller Alan Butkovitz’ latest economic report released today, the average cost for a night out in Philadelphia is $273, which is about 25 percent less than New York City or San Diego.

The Controller’s economic report included a review of the average cost of spending a night out in the 10 most populated U.S. cities. By comparing the prices of meals, taxis, cocktails and hotels, the average cost for a night out in Philadelphia is $273, which is compared to the following cities:
-San Diego, $358
-New York City, $342
-Chicago, $324
-Los Angeles, $311

The average cost for a meal for two at a mid-range restaurant in Philadelphia is $48, which is $30 less than in New York City, $12 less than San Jose and $8 less than in San Diego. Include drinks before the meal and expect to pay about $16 for drinks for two in Philadelphia, compared to $25 in New York City or $21 in Los Angeles and Chicago.

Along with reviewing cities’ vacation costs, the Controller’s economic report also shows that Philadelphia’s June tax revenues increased 3.2 percent over June 2011, totaling $176 million. Monthly sales tax collections totaled $20.97 million, which is a 2.5 percent increase from June of last year. Tax revenue collections for the fiscal year end totaled $2.9 billion, which is two percent more than what was collected in fiscal year 2011.

The Controller’s economic report is compiled on a monthly basis and includes an Economic Snapshot and Forecast, as well as real estate information on other local statistics. These reports are circulated every month to assist key decision makers in understanding and anticipating local and national economic trends. The Controller’s economic report is a useful tool for policy makers and analysis in understanding our regional and local economy.

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