ALBUQUERQUE (KRQE) – Every year, nine days in October means millions of dollars for New Mexico’s economy. This is all courtesy of the Albuquerque International Balloon Fiesta.
“When you look at the direct spending, we’re looking at about $94-million of direct economic impact,” says Tom Garrity, spokesperson for the Albuquerque International Balloon Fiesta. “But when you look at the turn around factor, that number grows well into excess of $100-million that’s generated in the economy as a result of Balloon Fiesta.”
According to an economic study from 2011, the fiesta brings in hundreds of thousands of out-of-towners. The people staying here are spending almost $200 a day while exploring Albuquerque and other parts of New Mexico.
That’s really good news for restaurants around town like St. Claire Bistro and Garcia’s Kitchen. They’re all gearing up for the Balloon Fiesta rush. Garcia’s says it sees a boost in sales of more than twenty percent. Some vendors in Old Town also say they’ll do more business during fiesta than they do in three months.
For more information about the nine day event, you can visit the Albuquerque International Balloon Fiesta.