If the past is repeated, Albuquerque businesses should expect quite a lift from this year’s Albuquerque International Balloon Fiesta.
According to KOB-TV, more than $90 million will be spent directly and indirectly because of the Balloon Fiesta.
A 2011 study found the average visitor spent around $194 a day during the festival, according to KOB-TV. The same study estimated the direct and indirect economic impact of Balloon Fiesta to be $117,124,897.
More than 700,000 people are expected to attend the nine-day event, which began over the weekend.
“Balloon Fiesta does very well, there’s enough money here at Balloon Fiesta for everybody to make a profit,” Ken Dewees, owner of Chile Traditions, told KOB-TV. “My biggest thing is I’m advertising my business to the world.”