The 2023 edition of the Austin City Limits Music Festival generated nearly half a billion dollars in economic impact for the area, according to results of an analysis released Monday. The fest’s $499.9 million in financial activity represented a 12% increase over theThe festival also announced an $8.1 million donation to the Austin Parks Foundation, another substantial increase for the nonprofit, which will use the funds to make improvements at local parks in all 10 City Council districts.
The economic impact study, which was conducted by the AngelouEconomics consulting firm, was released less than a week after C3 PresentsAngelouEconomics conducted the analysis to determine the economic impact, estimating the spending of attendees based on a surveyed sampling of guests, as well as total festival operations. Those calculations translate into the direct, indirect and induced spending that happens during the preparation of the festival and the performances of more than 150 acts.
Wallis said the festival’s annual contributions to local parks help to improve accessibility and quality of the sites for neighbors to enjoy throughout the year.
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