Economic impact of 2010 ArtPrize around $7 million
Posted on March 01, 2011
Grand Valley State University researchers have found that during the 2010 ArtPrize roughly 400,000 visitor days generated an estimated economic impact of as much as $7.5 million for the Grand Rapids area.
Students from Grand Valley’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 percent of respondents came from outside Grand Rapids (94 percent were Michigan residents);
• 67 percent of non-locals were day-visitors (did not stay overnight);
• 9.5 percent of non-locals stayed in a hotel/motel or B&B;
• 87.5 percent said that ArtPrize was the primary reason for their trip to Grand Rapids;
• Nearly 44 percent 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;
• And about $168,000 on tourism.
For additional information, contact Paul Sicilian at (616) 331-7425 or GVSU News and Information Services at (616) 331-2221.