Bravo! economic impact was $16M
Vail, CO Colorado
VAIL, Colorado – The Bravo! Vail Valley Music Festival reports a total direct economic impact of $16,102,427 on Eagle County after the conclusion of its 2011 season, an increase of nearly $3 million from the festival’s economic impact on Eagle County in 2010.
In the town of Vail alone, the festival had a $7,615,119 direct economic impact.
Bravo! hired BBC Research and Consulting to estimate the direct economic impact created by the 2011 Bravo! Festival on Eagle County. This is the first year the festival hired a professional firm to calculate its economic impact, said Julie Johannes, Bravo!’s chief financial officer.
BBC determined that the total direct spending of Bravo! concert-goers and orchestra members was $15,406,419. Tax revenue was $696,008, resulting in a total direct economic impact of $16,102,427.
Total orchestra spending was more than $1 million, and most of it was spent in the town of Vail.
The total economic impact includes the direct local spending by festival attendees and orchestra members and the associated tax revenue. Total spending included purchases of food and beverage, lodging, shopping and activities. Spending data was calculated from intercept and online surveys.
Indirect and induced impacts were not included, and the economic-impact model includes conservative estimates of guest and orchestra member spending, according to BBC researchers. Lodging and shopping expenditures of those respondents who did not list Bravo! as a primary reason for their visit to Eagle County were not included.
“Bravo! provides substantial direct benefit to the local community through audience and orchestra member spending and generates tax revenue for the town, county and state,” the report said.
The total attendance for Bravo!’s 2011 season was 59,212. Nearly 9,000 attended Music Matters, the festival’s music-education programs and free community concerts.
“The festival has maintained a total attendance of more than 57,000 since 2003,” Johhanes said.
Bravo!, a six-week annual music festival, brings world-renowned musicians to venues throughout Eagle County and draws guests from around the world. In 2011, the festival presented the Dallas Symphony Orchestra, The Philadelphia Orchestra, the New York Philharmonic and more than 40 soloists.
The festival concluded its 24th season Aug. 3.
The Festival celebrates its 25th season June 25 through Aug. 4. For more information, visit http://www.vail
music.org or call 970-827-5700.