An independent study will soon be underway to evaluate the economic and fiscal impact of major events hosted in Philadelphia through this summer, according to city officials. On Thursday, Aug. 20, Mayor Cherelle Parker’s Administration announced it selected the firm Epsilon Economics to conduct a study on the events hosted through July 31, 2026. Those events include the FIFA World Cup, MLB All-Star Week, the July 4th “One Philly Unity Concert,” the 2026 New Year’s Eve celebration, America250 celebrations and others. According to the officials, the contract with Epsilon Economics is expected to begin on or about Aug. 24, 2026, with total compensation not to exceed $75,000. “Transparency and accountability are fundamental to how the Parker Administration governs, and from the beginning, we committed to providing Philadelphians with a clear and comprehensive understanding of the impact these historic events would have on our city,” said Parker. The study comes after the City projected a $770 million economic impact from the FIFA World Cup. However, an analysis published on June 23 by the Economy League of Greater Philadelphia found that the $770 million figure represents statewide gross economic activity, while Philadelphia itself was projected to retain only about $30 million to $90 million. In July, Parker said the impact extended beyond the events themselves. Visitors who came to Philadelphia for the World Cup left with a new perspective on the city, she said, opening the door to new opportunities for economic growth. Moreover, the Philadelphia Convention and Visitors Bureau (PHLCVB) announced strong revenue results in July for the city’s hotel industry, driven in large part by travel related to the FIFA World Cup. Highlights included a 50.3% increase in revenue for Center City hotels. “The 2026 FIFA World Cup was an incredible opportunity for Philadelphia, and a tremendous success for our hotel,” said Ken Reed, general manager of the Philadelphia Marriott Downtown. “We were honored to serve as a home base for fans from around the world and to experience the excitement and pride they brought to our city. The matches drove some of our highest occupancy levels of the year and contributed to a very strong month overall.” Parker has also faced scrutiny after the city took over the July 4 concert, named “One Philly: Unity Concert for America” this year, which for years had been produced as part of Wawa Welcome America celebrations. However, the mayor said the independent study will deliver on her promise to be transparent about the significance of these events and “will provide important information about what these events meant for Philadelphia’s economy, businesses, workers, and our neighborhoods,” helping the city better understand the return on its investments. According to officials, Epsilon Economics was selected through a Request for Proposals issued by the City’s Office of the Director of Finance seeking economic consulting firms to conduct the study. The firm has completed major economic impact reports for high-profile events, including analyses for the FIFA World Cup 26™ and the Super Bowl LVI for Los Angeles County and other major events. ...read more read less