In this study, SXSW’s total economic impact is calculated in three parts — operational output, SXSW conference & festival impact and SXSW guest pass holders. In 2015, the impact of SXSW operational output was $116.6 million, SXSW conference & festival impact was $140.6 million and SXSW guest pass holders impact was more than $60 million.
“SXSW’s goal is to gather the world’s creative community under one tent, but as a result over 30 years we helped spark a hospitality industry boom that created countless Austin jobs from construction to transportation to dining and more. The lodging industry alone currently employs more than 75,000 people,” said SXSW executive director Mike Shea in a statement.
The study also puts a price on the media coverage that Austin receives from SXSW, calculating the value of of SXSW print, broadcast and online coverage to exceed $90.6 million. In 2015, SXSW achieved over 80.1 billion broadcast, print and online impressions, the report states.
Download and read the full study here.
Article Appeared @http://www.billboard.com/articles/columns/music-festivals/6699636/sxsw-2015-317-milion-austin-economic-impact