2015 Economic Impact Study Shows Benefits to New Mexico Visitor Industry as well as State and Local Tax Base
ALBUQUERQUE, NEW MEXICO- New Mexico’s largest visitor event, the Albuquerque International Balloon Fiesta, today announced results of a third-party economic impact study.
The 2015 Albuquerque International Balloon Fiesta attracted an estimated 955,700 guest visits during the nine-day event. It is estimated 74 percent of visitors to Balloon Fiesta are from outside of the Albuquerque Metro area, and approximately 65 percent are from outside of New Mexico. Balloon Fiesta guests generated an estimated $177.44 of total economic impact for businesses in the Albuquerque metropolitan area, $105.31 million of that amount being direct economic impact. The company Forward Analytics was commissioned by the Balloon Fiesta to conduct the 2015 economic impact survey.
Below are the key highlights from the Economic Impact and Guest Research Study (Visit the Balloon Fiesta website to access the entire survey report):
The survey was conducted by Forward Analytics, Inc. to measure the economic impact of the nine-day ballooning event. Forward Analytics administered in-person interviews to 989 adult attendees (ages 18+) during 12 of the 14 events of Balloon Fiesta. The sample size represents a statistical significance of +/-3.1% margin at the 95% confidence interval. This means the results reflect the answers between 91.9% and 98.1% of the total population. Generally, a +/-5% margin of error at a 95% confidence level is considered significant for making business decisions.