ALBUQUERQUE (KRQE) – It’s no wonder businesses around Albuquerque love Balloon Fiesta. The group behind the city’s signature event released a new study showing what a huge money-maker it is.
If you head to Old Town or Nob Hill during Balloon Fiesta you will see the tourists everywhere. And according to the study, they’re spending a lot of money.
Balloon Fiesta says of the hundreds of thousands of people who pour into the park over the course of the nine day-event, almost two-thirds of them are from out of state. According to the study each of them spend almost $150 a day in town mainly on hotels and restaurants and shopping with those tourists spending three to four nights on average once they get here.
Inside the park they’re spending another $30 apiece on food and souvenirs.
All told, tourists from around the state and around the country are spending a $105 million to visit Balloon Fiesta.
The people surveyed were also asked to rank their favorite things about Balloon Fiesta. Mass ascensions and balloon glows were the runaway favorites. Only half said the food and shopping at the park are what drew them there.