EDC Las Vegas Generated $1.3 Billion For LV In 5 Years
When people think about Las Vegas they tend to think of the true city that never sleeps on what it was once based solely around, which was gambling. Over time there has been a fairly dramatic shift for the city which has seen Las Vegas change into a “family friendly” place in the 90’s, an adult playground in the 2000’s, and now a mecca for electronic music in the 2010’s. While in Las Vegas, and outside of it, I’ve heard many residents speak of EDC Las Vegas in a less than stellar way. Why? Primarily because anecdotally, many ravers are viewed as “broke” or “poor”, and those same people are going to only be visiting Las Vegas for EDC and tend to not participate in traditional activities involving tourism or gambling.
Sure, many people that I know are there for JUST EDC Las Vegas. But there are plenty of things surrounding the event that get forgotten by those who only see EDC Las Vegas attendees as a ticket and a hotel room and nothing more.
Many of these attendees don’t care about Hoover Dam or touristy things, they don’t necessarily go to any of the non-edm shows that aren’t already slated at nightclubs, and they also tend to be unable to afford many of the overpriced amenities on the strip. But how is this any different than when a business conference comes into town? Conferences come in all of the time to this city, and those people would also be avoiding many of the things that are claimed to be less loved by ravers. How many regular joe, conference attendees are paying for tickets or tables at nightclubs? I wouldn’t doubt that some might attend but many prefer to shop or gamble instead.
What many people who complain about us “broke ravers” tend to gloss over or not even realize, is that Insomniac Events is bringing loads of business to the city that goes beyond just attendees too. There is infrastructure that needs to be built and supported, there are people who work this event that get paid to do it. The hotels get booked up so rooms are locked down, the clubs get massive amounts of business during EDC Week from attendees and visitors to Las Vegas alike, and ravers most definitely also need to eat, gamble, and drink while in town. Also, it seems like many of these people don’t understand what a true economic impact the entire EDC Week brings to the city.
“Each year EDC brings in hundreds of thousands of visitors to Las Vegas, including many who didn’t have a ticket to the festival, but wanted to experience the destination during EDC Week,” said Clark County Commission Chairman Steve Sisolak. “From EDC to the overall entertainment appeal of Las Vegas, EDC Week gives these visitors an experience that only this town can offer.”
To highlight the fact that EDC Las Vegas has been economically beneficial to Las Vegas, Insomniac Events has even released an infograph showing the amount of money that this event has generated over the past 5 years.
The study, which was conducted by a third party Beacon Economics, LLC shows just how much both Insomniac Events and its attendees spend while in Las Vegas (talent costs not included). In 2015, attendees’ direct spending amounted to $168.3 million, bringing the total attendee spending impact over five years to $1 billion. The 2015 festival produced $21.9 million in state and local tax revenue, which is comparable to employing 292 full-time fire and rescue staff with a $75,000 annual salary! Over EDC Las Vegas’ five-year history, the festival has generated $81.4 million in state and local taxes and the report disclosed EDC Las Vegas 2015 created $141.3 million in increased labor income for Clark County workers and further, 3,270 full-time jobs.
Beacon Economics, LLC also released stats on EDC Las Vegas’ overall impact on residents, businesses and local governments within Clark County over the past five years. Since 2011, attendees have directly spent a total of 638 million dollars. The direct spending breakdown includes $145.4 million in hotel stays, $188.9 million in food and beverage purchases, $66.2 million in entertainment spending, $87.9 million in gaming, $55.9 million in retail, and $93.6 million in transportation.
“It is incredible that in just five years our Headliners have helped us generate more than $1.3 billion back to Las Vegas, a place I call home,” said Pasquale Rotella, Founder and CEO of Insomniac. “I’m so grateful that I can do what I love while making a positive impact in the community”
So where exactly are these “broke ravers” that everyone has been talking about?
While $1.3 billion is not going to necessarily float a city that has faced serious economic problems in the past decade, it definitely has helped. The numbers don’t lie. EDM has breathed life back into a city that was facing an uncertain future and I hope that they will continue to accept us with open arms(and open ears)!
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