KOAT-TV.com - The Albuquerque International Balloon Fiesta brings in thousands of visitors to the area, which has a big impact on the local economy. Officials say nearly 800,000 people will visit Balloon Fiesta Park during the nine-day event; it's the largest visitors event in New Mexico.
Balloon Fiesta's director of media relations, Tom Garrity said the event has a $90 million economic impact in the state. In a 2011 study, it was estimated that the event generated $15 million in tax revenue.
Officials said with a large number of people coming in from out of town, money is spent in local restaurants, hotels and shops.But Albuquerque isn't the only place to get a boost. "It's not just Albuquerque, the whole state benefits from Balloon Fiesta," said Garrity.
Garrity said while many people come to Albuquerque to see the balloons, they also visit surrounding areas like Santa Fe, helping boost that city's economy, too. More