NEW MEXICO (KRQE) – Balloon Fiesta officials announced how much money the 2022 International Balloon Fiesta brought to the local economy. According to a newly released economic impact study, the 50th Annual Balloon Fiesta generated more than $203 million of total economic impact for the metro area.
Direct spending at local businesses in the area totaled more than $119 million. “In addition to the simple joy balloons in the expansive New Mexico sky brings to visitors, we are so pleased that Balloon Fiesta contributes in such a significant financial way to New Mexicans and our major state industry of tourism,” President of the Albuquerque International Balloon Fiesta Board of Directors Judith Nakamura said in a release.
Officials say more than 828,000 guests came to Albuquerque to check out the event. Balloon Fiesta attendees spent an average of $27 per person with Balloon Fiesta concessionaires, according to the economic impact study. Most of the businesses selling concessions at the event are local to Albuquerque or New Mexico. The study also shows the most popular sessions at the nine-day event were mass ascensions, balloon glows and fireworks displays.