The DowntownDC Business Improvement District (BID) presents its Fall 2020 DowntownDC Economy Update, which provides current data regarding the DowntownDC economy and the effects the COVID-19 pandemic is having on all sectors of the economy.
Since the release of the Summer 2020 Economy Update, DowntownDC’s economic activity has increased to 18% of 2019 levels in October 2020 from 12% of 2019 levels in July 2020. This is primarily due to an increase in office workers working from their DowntownDC offices. Additionally, the reopening of many hotels, restaurants, stores and museums helped increase DowntownDC economic activity. However, sales and attendance remained well below 2019 levels.
The future of DowntownDC’s return to greater levels of economic activity depends on the pace of decline in the spread of COVID-19 and an eventual vaccine. We are closely working with BID members & stakeholders and the DC government to prepare for the safe return of office workers, business travelers and tourists.
The DowntownDC BID held a virtual discussion on November 12, 2020 to discuss key aspects of this report. View a recording of the virtual discussion here.