2017 Balloon Fiesta generated nearly $173M
Almost 900,000 people attended the 9-day event
The 46th annual Albuquerque International Balloon Fiesta generated $172.98 million in total economic impact, according to a just-released impact survey from the marketing research firm Forward Analytics.
Of that number, $101.75 million was in direct impact and $71.23 million was indirect.
The nine-day fiesta attracted 887,970 guests, of which 572,000, or 64 percent, were from outside New Mexico. Most out-of-state guests came from Texas, California, Colorado and Arizona, the report says. Guests spent an average of $28 per person on Balloon Fiesta grounds, excluding parking and admission charges.
The survey, commissioned by Balloon Fiesta management, was based on in-person interviews with 1,287 adult attendees during 14 Balloon Fiesta sessions. The sample size represents a 95 percent level of confidence, according to fiesta officials.
The last economic impact surveys were done in 2015 and 2011.
In 2015, the fiesta’s total economic impact was $177.44 million, of which $105.31 million was direct impact and $72.13 million was indirect. That year, fiesta attendance was 955,700.
In 2011, the total economic impact was $117 million, of which $91 million was direct impact and $26 million was indirect. Attendance that year was 737,466.
The fluctuations in economic impact, said fiesta spokesman Tom Garrity of The Garrity Group Pub-
lic Relations, are due to fluctuations in attendance.
“In 2015, we had 67,730 more attendees at the event than in 2017. Economic impact models are all based on the number of people at fiesta and their spending patterns, which also change from year to year,” he said.
One thing that is clear, regardless of the fluctuations, is that “fiesta is a signature visitor event for the tourist industry and it generates a significant amount of money into the area economy, as well as the state economy,” Garrity said.
The 2017 Balloon Fiesta also generated nearly $10 million in tax receipts, including $5.71 million for the State of New Mexico, $3.51 million for the City of Albuquerque and $826,735 for Bernalillo County, the report said.
Out-of-state visitors spent an estimated $40.09 million in local lodging revenue, generating $1.84 million in lodgers’ tax for the Albuquerque area and $16.62 million spent at local restaurants.
Among fiesta guests, 52.4 percent were experiencing Balloon Fiesta for the first time, while 26.2 percent have attended for the past five years or more. More than 95 percent of fiesta guests said they were very satisfied or satisfied with their experience.
Ty Young, president of the Balloon Fiesta Board of Directors, said, “with more than 95 percent of our guests saying they are very satisfied or satisfied with their Balloon Fiesta experience, we are confident that adding trollies and other on-site amenities enhanced visitors’ time at the park.”
The Albuquerque International Balloon Fiesta is the largest gathering of balloons and balloonists in the world. The 2017 event generated 1.71 billion mentions in traditional and social media, and 70 percent of fiesta guests shared images of the event on social media, the Forward Analytics report said.