A week after the City of Austin released a public safety report of the event, SXSW held a media event on Thursday announcing that it pumped $315 million into the local Austin economy in 2014 — $97 million more than in 2013.
The study, which was conducted by Greyhill Advisors, also examined everything from hotel rooms to home countries of attendees. Below is a snapshot of the numbers.
Overall estimated economic impact: $315 million
Impact of SXSW operations: $121.9 million
Individual hotel reservations: 13,990 hotel reservations for a total of 60,450 nights booked
Average hotel booking: 4.32 nights
Average nightly hotel rate: $287
SXSW Conference and Festival official participation: 134,000 (Includes official registrants, artists and support crew, as well as single admission film and music attendees.)
Total attendance of SXSW-related events including Flatstock, Music Gear Expo, SXSW Education Expo and the Renegade Craft Fair: 239,700 (A very important note: The study says, "Every March innumerable patrons with no official credentials travel to Austin to experience the Spring Festival Season that has evolved around SXSWeek. This report does not attempt to account for this significant demographic estimated to exceed 100,000 or more individuals.")
Number of countries represented: 87
Number of countries represented by bands: 57