ALBUQUERQUE, N.M. (KRQE) – We’re getting an idea of how badly businesses are being impacted by the cancellation of Balloon Fiesta. A California-based commerce data company found Albuquerque’s signature event increases revenue for arts and entertainment businesses by nearly 200% every year. Researchers compared it to the Kentucky Derby or the Major League Baseball preseason in Arizona.
“You look back and go oh, it’s usually a busy week, but it’s not until you see numbers and you actually feel the difference that you start to see kind of how big of an impact it has,” said Kitt Davidson, co-owner of Village Pizza. In lieu of the fiesta, hosted the Balloon Fall Fest with pilot launches from various spots across the city. It will continue through the weekend.