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Francis Coffee

Thursday, October 18, 2007

ALBUQUERQUE INTERNATIONAL BALLOON FIESTA

The Albuquerque International Balloon Fiesta is the largest balloon convention in the world. On any given day, the fiesta draws upwards of 80,000 people and continues to be the city's largest revenue generator. Last year, according to the Foward Analytics study, the Albuquerque International Balloon Fiesta had a direct business volume impact in Albuquerque in excess of $119 million, up from approximately $60million in 1990. Visitors spent nearly $23 million at the Fiesta park itself and a much larger $97 million beyon the park on what is described as "food and beverages, entertainment,retail,grocery,and lodging expenses. On an individual basis attendees spent an average of just under $33 every time they visited the Balloon Fiesta park. But the direct economic impact beyond the confines of the park was significantly greater-$141 per day per visitor in greater Albuquerque

The fiesta's out-of-state revenue base reached its greatest mass to date last year when some 76% of antendees came in from other states, primarily Texas,California,Colorado and Arizona. When visitors from other parts of New Mexico were factored in, the percentage of people visiting the fiesta who were non-Albuquerque residents rose to a spectacular 85%.

Fiesta income is also generated by the more than one hundred vendors who in 2006 reported in excess of $1.9million in revenue. Selling everything from breakfast burritos,books,clothing,foodstuffs,native American artwork and jewelry. Individual vendors can make anywhere from just over $1,000 to just under $100,000, reports Bill Anthony, an Albuquerque Balloon Fiesta contractor in charge of RV facilities and vendors. "We do our mailings for vendors in January of each year, with the first week of April deadline for applications." says Anthony, and we are generally sold out by the time applications are due.

Vendors at the fiesta must purchase business registration certificates as well as temporary food permits from the City of Albuquerque, while also being required to pay a gross receipts tax to the state of New Mexico.
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