Bikers, Aliens, And Movie Stars: Comparing The Economic Impact Of Special Events

Abstract

This paper compares the economic impact of the Sturgis Motorcycle Rally, Roswell UFO Festival, and the Sundance Film Festival in Park City. The three cities and special events are evaluated based on information relating to population, income, home valuation, event estimates for number of visitors and expenditures, and city sales tax information. Park City is the leader in population growth, household income growth, and median home value growth for the years 2000-2007. In fact, population growth for Roswell and Sturgis is on the decline despite rising median household income and home valuations. Participation and dollar value of the event is clearly dominated by the Sturgis Motorcycle Rally (420,000 annual participants generating $130 million in expenditures), followed by the Sundance Film Festival (39,000 annual participants generating $60 million in expenditures), and the Roswell UFO Festival (10,000 annual participants generating $1.25 million). The results of this study clearly imply the Sturgis Motorcycle Rally is integral to the economic healthy of the region, the Sundance Film Festival is an important and growing special event for the U.S. film industry, and the Roswell UFO Festival helps the city maintain a unique identity that might not otherwise exist.