Music festival had $9.3 million impact in Vail
Vail, CO, Colorado
VAIL, COLORADO ” The Bravo! Vail Valley Music Festival, the largest cultural destination in the Vail Valley with over 60,000 concert attendees, has completed an annual economic impact study. The study shows that the festival had a $9.3 million impact on the Vail Valley in 2007. Each summer the festival conducts a marketing survey of its audience.
Based on data from the 2007 Bravo audience survey and the Town of Vail 2005 Summer Intercept Survey, $9.3 million was spent in the Vail Valley as a direct result of the festival, resulting in $762,428 collected in taxes. This figure is comprised of three criteria: money spent by visitors who came to Vail specifically for the Festival, money spent by audience members who dined out on concert evenings, and money spent on food and beverage at the Gerald R. Ford Amphitheater.
n Money Spent by Visitors of the Vail Valley. The festival distributed a survey throughout the summer of 2007 to 243 concert-goers.
Thirty three percent of those surveyed indicated that they were vacationers, and 52 percent of these vacationers cited Bravo as the main reason for their visit.
On average, Bravo vacationers stayed 5.7 nights and spent $144 per person per night. In addition, festival organizers inferred, through the 2005 Town of Vail Summer Intercept Survey, that Vail visitors spent, on average, $26 per person per day on food and beverage, $28 on shopping and $11 on activities. From all of this data we concluded that visitors who came to Vail for Bravo had an $8.0 million impact on the Vail Valley. This had a positive tax impact of $234,998 for the Town of Vail and $120,486 on Eagle County.
n Money Spent on Dining Out on Concert Nights. Based upon this same survey, 48 percent of the audience will dine out on concert evenings. Those 48 percent dining out said they would spend an average of $47 per person on dining that evening.
This combined with concert attendance in Vail and Beaver Creek resulted a total spending of $922,754 on dining on concert evenings. This had a positive tax impact of $25,556 for the Town of Vail and $13,841 for Eagle County.
n Money Spent on Food and Beverage at the Gerald R. Ford Amphitheater. On average, concert goers spent $12 per person on food and beverages while at the GRFA, resulting in $347,577 spent at the GRFA on Bravo! concert nights. This had a positive tax impact of $11,259 for the Town of Vail and $4,222 for Eagle County.
Of the $738,114 collected in taxes, the state collected $267,862, Eagle County collected $138,550, the Town of Vail collected 271,813, the Town of Avon collected $34,698 and Beaver Creek collected $25,190.
Bravo! brings another season of music featuring the Rochester Philharmonic Orchestra, The Philadelphia Orchestra and the New York Philharmonic with the Rocky Mountains as a backdrop, June 25 through August 2, 2008. For additional program details please visit our website at http://www.vailmusicfestival.org or call 877-812-5700
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