SXSW boosting Austin’s economy by $323.3M

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AUSTIN (KXAN) — Each year music, film and game lovers flock to Austin for South by Southwest.

Boosting tourism and putting Austin on the national map for music, SXSW has a major impact on the city. Organizers are now putting that impact into numbers announcing the monetary boost the city received during last year’s festival.

A total of $323.3 million dollars was funneled into Austin’s economy during the festival in 2016. Nearly $10 million more than the amount from 2015.

“This event is growing exponentially, it not only brings a lot of revenue to the city, which for us is more parks in neighborhoods, and more social and health services because it’s these kind of events that are the economic engines for a city like Austin to give us the revenue to spend money on the things we want to spend money on here locally,” said Austin Mayor Steve Adler.

SXSW took place from March 10 through the 19 this year. Organizers say it is the Austin hospitality industry’s most profitable event.

“Beyond that, SXSW is about Austin’s brand. it’s about establishing that Austin is a city of creators and innovators and that also helps drive our economy and reflect who we are,” said Adler.Number break-down from SXSW 2016

  • 59,000 hotel rooms booked by SXSW registrants
  • 140,000 SXSW tickets sold
  • 2,200 bands performed
  • 460 film screenings
  • 13 days of conferences
  • 8 exhibitions
  • 4 trade shows

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