Miami Banking On WMC - NBC 6 South Florida

Miami Banking On WMC

The music's good but the money's better at this year's Winter Music Conference

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    Miami Banking On WMC
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    The music's good but the money's better at this year's WMC.

    The cash flow accompanying the 2009 Winter Music Conference is music to the ears of Miami businesses, who are glad the recession isn't getting in the way of a good party.

    As music lovers flock into South Beach from across the globe to dance their pants off, they're bringing some much-needed money with them.

    It's estimated about 50 thousand people from 70 different countries come to Miami for the WMC, and bars, restaurants and hotels are reaping the benefits.

    "The hotel is completely sold out and every hotel in town is completely sold out," Jonathan Cowan, managing director of the Shelborne Hotel said. "Surprisingly, in the middle of a recession our numbers have been record high."

    With such a massive event - the WMC attracts over 500 events city-wide - tourists are getting what they came for.

    "I think it's a great thing," Chicagoan Caren Crangle said. "I think that it's exciting there's still things that are thriving."

    With just two days left, business are hoping the WMC continues to help their bottom line and make up for what has been a bad business year.

    "It's good for Miami at least, you know," tourist Loca said. "People are willing to spend the extra money, I barely made it down here, but I made it."