Dear Houston: You are Welcome. Sincerely, the Livestock and Rodeo Worlds
The 2019 Houston Livestock Show and Rodeo generated a total economic impact of $227 million and total economic activity of $391 million in Greater Houston, according to the Rodeo’s 2019 Economic Impact Study, conducted by Economics Analytics Consulting, LLC.
The report quantified the economic impact and economic activity, including direct spending, the number of jobs supported in Greater Houston, and the expected increase in taxes associated with spending related to the 2019 Rodeo.
“Visitors to the 2019 Rodeo spent money on the Rodeo grounds, as well as throughout the Houston economy,” said Chris Johnson, principal of Economics Analytics Consulting, LLC. “Approximately 75% of visitors’ direct spending occurred outside the Rodeo grounds and almost 45% of their spending was on items other than lodging, such as shopping, food and entertainment.”
Economic impact measures the economic effects of new spending in Greater Houston generated by visitors attending the 2019 Rodeo, while the economic activity provides a measure of the full economic power of the Rodeo by quantifying the total spending in Greater Houston generated by everyone who attends. The Rodeo generated nearly $400 million in economic activity based upon direct spending of $243 million.
Among the highlights:
Total economic impact: $227 millionDirect spending: $133 millionIncludes hotels, food and beverages, entertainment, shopping and merchandise, horses and livestock, farm and ranch equipment, ground transportation and event spendingTotal fiscal impact: $13 millionDirect jobs: 3,694Total jobs supported in Greater Houston: 5,133
Total economic activity: $391 millionDirect spending: $243 millionTotal fiscal activity: $20 millionDirect jobs: 3,694Total jobs supported in Greater Houston: 5,918
“With the breadth of livestock and horse show competitions combined with the diversity of activities and events, exhibitors and attendees were drawn not just from across Texas but from around the world. The world’s largest livestock show and rodeo is clearly justified in its title as one of Houston’s signature events,” Johnson said.
The Rodeo drew more than 2.5 million total visitors during the 24-day event held Feb. 21 – 23, and Feb. 25 – March 17, 2019. There were more than one million unique attendees at the Rodeo, with 27 percent from outside Greater Houston, including visitors from 75 countries.
“As a fixture in the Houston community supported by over 35,000 volunteers, we are proud to promote agriculture, entertain and educate the public with a world-class, family-friendly event, and support youth and education with a commitment which annually exceeds $27 million,” said Joel Cowley, president and CEO of the Rodeo. “However, we are equally proud to provide such a tremendous boost to our local economy each and every year.”
Economic Analytics Consulting, LLC is an independent consulting firm based in Houston that provides clients with economic, financial and valuation services for various business purposes. Clients rely upon Economic Analytics Consulting, LLC for solutions to complex economic problems and for analysis and advice in a variety of situations.