AUSTIN (KXAN) - A study released Wednesday estimates South by Southwest pumped $218 million into the local economy, a jump from $190 million in 2012.
Researchers also found a record number of attendance at the events. It placed the number of participants at 155,000. The study counted anyone who attended at least one SXSW event.
Economic impact studies look at a broader picture that solely considering how much visitors or attendees spend.
"What are the effects of that spending when people take those dollars and reuse them in an economy? That's what we're looking at in the best economic impact analyses," said Bruce Kellison, associate director of the Bureau of Business Research. The bureau is part of the IC2 Institute at the University of Texas at Austin.
Kellison says dollars can be counted up to four or five times in these studies.
This study considered direct, indirect, and induced costs. So, it includes not only the direct revenues, but increased incomes. It also looks at secondary businesses and how much money those with bigger paychecks from SXSW are then spending.
Researchers also found hotel bookings increased 10 percent from last year.
Here's how the impact of SXSW has grown:
- 2013: $218 million
- 2012: $190 million
- 2011: $168 million
- 2010: $113 million
- 2009: $99 million
- 2008: $103 million
- 2007: $95 million
Late Saturday night into early Sunday morning, a light band of freezing drizzle traversed the I-35 corridor eastward. With sub-freezing temperatures, even the light precipitation created major problems.
A 10-year-old was killed while standing outside a vehicle after the child's family was involved in a fender bender, DPS said.
Austin Police are looking for a missing woman.
APD is responding to a 25 vehicle accident near the 5400 block of Ed Bluestein near Thurgood Ave.
A man is dead after being hit by several vehicles in the eastbound lane of Highway 71 Saturday night.
A representative at the Fayette County Sheriff's office said that Fayette County is effectively shut down due to icy conditions.