AUSTIN -- The 2013 South by Southwest Festival poured $218 million into the Austin economy, an increase of $28 million from last year's conference.
The official numbers were released by economic firm Greyhill Advisors Wednesday afternoon.
According to the City of Austin, the 2013 impact analysis represents the seventh consecutive study to fully assess the unique nature of SXSW and its beneficial economic impact to the city.
The economic impact of SXSW has steadily increased over the past few years from about $95 million dollars in 2007, to $113 million in 2010, and up to $190 million in 2012.
“SXSW continues to be a truly remarkable event for Austin,” said Austin Chamber President Michael Rollins. “This festival not only brings the world’s attention to Austin’s strengths in community, creativity and commerce, but also provides opportunities to spotlight and support our small businesses which work tirelessly to prepare for – and engage with – the festival’s record-setting attendance of over 155,000. Every year we see more quantitative and qualitative benefits from SXSW, and are thrilled to see what the future holds.”
SXSW 2013 saw the conference's highest number of visitors yet.
To read and download the full study, visit www.greyhill.com/blog.