Anaheim touts economic recovery from pandemic downturn

Budget revenue projected to exceed forecast

Anaheim, Calif. – Anaheim’s rebounding economy is driving better than expected budget projections for the city.

For the 12 months through June, Anaheim now is projecting about $70 million in additional revenue from hotel, sales and property taxes than initially forecast in the city’s adopted budget for fiscal year 2021-22.

Hotel-stay tax, Anaheim’s largest source of revenue, is projected to reach a record $167.3 million this fiscal year, up from a devastated $30.3 million for fiscal year 2020-21, a level not seen since the 1990s.

The projected additional revenue reflects the strong rebound of Anaheim’s visitor economy, with people returning to hotels and spending money at the theme parks of the Anaheim Resort.

Lost Revenue

We’ve come a long way from the low of the pandemic fiscal crisis, when Anaheim saw more than $150 million in lost revenue as Disneyland and the convention center closed for 13 months from March 2020 to April 2021.

The pandemic financial impact was the largest and quickest our city has seen in modern times, surpassing what we saw during the Great Recession.

But through it all we said Anaheim’s outlook was bright, and that’s what we’re seeing today.

Rebound

The rebound of Anaheim’s visitor economy and our city budget is good news for residents. It shows the resiliency of our economy, where visitors support services for residents and neighborhoods.

» continue reading on Orange County Today