Art Prize Hauls in Huge Cash for Economy in 2010!
Wow, this is great news! Can’t wait for next year!
From WoodTV 8 – ArtPrize 2010 had a $7.5 million economic impact to the Grand Rapids area, according to Grand Valley State University researchers.
About 400,000 people visited the event during last fall.
Students from GVSU’s Economic and Hospitality and Tourism Management departments collected data under the supervision of Paul Sicilian, associate professor of economics; Seohee Chang, assistant professor of hospitality and tourism management; and Experience Grand Rapids.
The results showed:
* 50% of respondents came from outside Grand Rapids (94% were Michigan residents)
* 67% of non-locals were day visitors (did not stay overnight)
* 9.5% of non-locals stayed in a hotel/motel or bed and breakfast
* 87.5% said ArtPrize was the primary reason for their trip to Grand Rapids
* Nearly 44% were attending ArtPrize for the first time (did not attend last year)
Results also showed direct spending of:
* More than $2.8 million on food
* About $721,000 on lodging
* Nearly $589,000 on transportation
* About $684,000 on retail purchases
* About $168,000 on tourism