Bostin’ in Austin as locals cash in
For the citizens of Austin, Texas, the South By Southwest festival is about more than just an annual invasion of out-of-towners – it’s also about the money.
Financial consulting firm Angelou Economics estimates that SXSW was worth more than $95 million to the local economy in 2007. This also includes SXSW’s film and interactive festivals, both of which attract huge numbers in their own right.
Naturally, given such a significant cash splurge by visitors, the city council is happy to support SXSW with street closures, policing and permits.
Add in the 1,000 unpaid local volunteers who really keep this show on the road and you can understand the win-win relationship between Austin and SXSW.