Local festivals a boon to economy, says Professor
by Tiffany Contreras
As the economy continues to suffer crisis, there are a variety of annual events that help the market. Events such as the Coachella Festival, Stagecoach and the Palm Springs Film Festival raise millions of dollars for the local economy.
“I definitely think these events and others help our local economy by bringing a huge number of people to the Valley for those events,” quips Rebecca Simpson, political science professor at College of the Desert. “By staying at hotels, eating at restaurants and shopping in stores throughout all of the Coachella Valley, the entire valley benefits economically.”
The Coachella Festival, founded twelve years ago, was divided into two weekends for the first time in 2012. With the intention of selling more tickets, the event sold more than 75,000 tickets. Stagecoach, the country music version of Coachella, also adds money to the area; tickets are usually sold for $99 and up.
In late January, the Palm Springs Film Festival drew 1,900 people. Each person paid an $11 general admission fee. Some people paid anywhere from $275 to $2,500 for special seating, and you have to add meals, gas and other purchases made throughout the valley. In the end, the Festival earned $1.6 million – $100,000 more than last year.