Riverbend Festival Adds Millions To Economy
A recent report shows the annual, eight-day, Riverbend Festival in Chattanooga, Tenn., draws about 350,000 people who put more than $29 million into the area economy.
The study was conducted by Mark Burton of the Haslam College of Business at the University of Tennessee. It analyzed data gathered by event organizer Friends of the Festival.
The study found lower attendance than the 550,000 estimated in a report by the International Festivals and Events Association, but the economic impact is about $1 million higher than that report estimated. Both used stats from the 2016 festival.
To determine economic impact, Burton used data gathered from surveying more than 1,000 attendees to track their spending.