Tuesday, January 25, 2011

A big deal for Park City

Each year, the largest event that happens in Park City remains the 30 year old Sundance Film Festival. According to a University of Utah study, the festival's economic impact on the state of Utah is estimated to be around $63 million, not including an $18.5 million worth of Utah media coverage around the world from the 10-day affair. The 41,000 people that come to check movies out support 1,500 jobs, spend $25 million in lodging and almost $11 million to eat and drink.

These are the known numbers, but they don't include spending on airfare, private dinners, parties, and receptions held by the film industry, so it's quite likely that the amount of cash infusion gets closer to the $100 million mark, most of it spent in Park City. Off the large number of visitors, 60 percent (or about 25,000) are coming from out of state or abroad. Unsurprisingly, the largest share of nonresident attendees is from California, and most than three-quarters of them fly to Utah.

2 comments:

Unknown said...

You think this is a big deal? Just try Davos:

http://dealbook.nytimes.com/2011/01/24/a-hefty-price-for-entry-to-davos/

Look at these entry prices and weep (especially for what you get). Those Swiss know how to sell more than Swatches, chocolate, bad wine and Coucou clocks.
Stay well, my friend.
Bill

Go 11 said...

I was thinking of discussing this subject as my "blog du jour," but decided otherwise as the enormity of the numbers I read in the NYT article left me speechless. Now, you gave me more fodder to debate, plus I just caught a glimpse of tonight news on TSR with some incredible reporting, so brace yourself for tomorrow's piece!