By closing credits, Sundance-goers put $80 million-plus into economy
May 15, 2015
By the time the closing credits of the Sundance Film Festival rolled in February, the festival put $83.4 million into the state economy, organizers said on Thursday, indicating a cast of industry insiders, film lovers and others spent money in a wide range of categories while they were in Park City.
The $83.4 million figure is the amount of money that the festival added to the gross state product. It is a broad reading on Sundance’s impact on the economy. The number was down slightly from the $86.4 million added to the gross state product in 2014, according to Sundance. The tally was up from the five-year average of approximately $78 million, though. The festival has long been Park City’s most lucrative special event.
"It’s that consistency. We love to see people want to still gather," Sarah Pearce, the managing director of Sundance, said.
The Bureau of Economic and Business Research at the University of Utah annually compiles the report. It was based on surveys of 810 people who attended the festival. The surveys were conducted in Park City and the Sundance locations outside of Park City.
Some of the major spending categories included:
People from outside of Utah spent far more than state residents in each of the categories. Spending is an important category as the overall impact on gross state product is calculated.
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The $28.6 million spent on lodging was down nearly $5 million from 2014. Pearce said a slightly higher percentage of festival-goers stayed with family or friends or they stayed outside of Park City, resulting in the drop.
Some other highlights from the report included:
"We want to inspire that next generation of film lovers," she said.