(BPT) - When Broadway theaters lowered their curtains due to COVID-19 in March 2020, it was not immediately apparent how long the stages would be empty. As a cultural and economic engine for New York, Broadway’s 18-month closure not only impacted the more than 293,000 workers it employs, but also the hotels, restaurants and transportation across the city that rely on theatergoers. As one of New York City’s largest industries, the cultural sector generated $110 billion in economic activity prior to the pandemic.
With COVID-19 restrictions lifting and Broadway reopening, the intersection of financial and overall well-being remains at the forefront for many people. According to a new poll commissioned by Prudential, 2 in 3 Americans say that arts, entertainment and cultural events positively impact their mental health (68%) and overall well-being (66%), and the quality of life in communities (64%). At the same time, Americans consider their financial security (92%) equally important to their mental (93%) and physical health (92%) when it comes to overall well-being.
Prudential supported Broadway’s return with its sponsorship of a 3-day festival in Times Square, donation to the Black Theatre Coalition and The Actors Fund, and launch of a free financial wellness digital hub that provides financial tools and resources for the performing arts community.
As the theater community and people across America get back on their feet, here are a few tips to support financial resilience:
These simple steps and others can help you stay focused on reaching your financial goals and, as it turns out, your overall well-being.