Bravo! Vail season boosts economy by $17.1M
VAIL — Bravo! Vail reported this week that its 2014 season brought a $17.1 million direct economic impact to Eagle County.
The economic impact figure reflects more than $689,000 in sales tax revenue for all of the towns and Eagle County, while the balance of the $17.1 million directly affected local businesses. The total economic impact figure includes direct local spending by nearly 42,000 Bravo! Vail ticketed concert attendees, 420 orchestra members and guest soloists. It is of note that the study only focused on paid concert attendees and orchestra players, and therefore represents a conservative estimate; an additional 11,470 attendees, and dozens of musicians, participated in free events hosted by Bravo! Vail this year.
Impact on Vail
In the town of Vail alone, Bravo! Vail generated over $8 million in direct economic impact. Of this spending, the town earned $281,000 in tax revenue. Over $1.9 million of the economic impact was spent on lodging which translates to over 9,000 room nights booked in Vail.
Sense of Community
Adding to the direct economic impact figures is the associated enhanced sense of community Bravo! Vail generates. In addition to the popular ticketed orchestra and chamber music concerts, Bravo! Vail offers over 50 free community engagement and educational events throughout the season. During the 2014 Season, Bravo! Vail continued its free concert series at the Vail Interfaith Chapel which consisted of 10 chamber ensemble performances open to the public. These concerts, held on Tuesdays and Thursdays, were often filled to capacity.
Bravo! Vail engaged Corona Insights, based in Denver, to implement and analyze the economic impact survey.
Bravo! Vail celebrates its 28th season July 1 through Aug. 8, under the leadership of Artistic Director Anne-Marie McDermott and president and Executive Director James W. Palermo. The 2015 season will feature residencies by the New York Philharmonic, The Philadelphia Orchestra and the Dallas Symphony Orchestra.