The DowntownDC Business Improvement District (BID) presents its Early Fall DowntownDC Economy Update, which provides current data regarding the DowntownDC economy and the effects the COVID-19 pandemic and the Delta variant are having on all sectors of the economy.
The report reflects an increase in economic activity since the Winter 2021 Economy Update was released in March of this year — though overall economic activity in DowntownDC has a long way to go before returning to its pre-pandemic levels. Many of downtown’s economic sectors are slowly recovering, though the housing sector is leading the way. The development and destination shopping and dining sectors have also shown meaningful recovery. The sectors most in need of support at this time are the office, office-serving retail and hotel markets.
The future of DowntownDC’s return to greater levels of economic activity continues to depend on the management of COVID-19 and its variants as well as the return of office workers, business/convention/international travelers and cultural/entertainment patrons. The DowntownDC BID continues to work closely with its members, stakeholders and the DC government to ensure our downtown area remains a vibrant and welcoming destination for all.