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Economic Impacts and Visitor Profile 201 8 September ECONOMIC IMPACTS AND VISITOR PROFILE Prepared By: Cheyenne Frontier Days™ Economic Impacts and Visitor Profile July 2018 September 2018 Prepared for Cheyenne Frontier Days Cheyenne, Wyoming Dean Runyan Associates 833 SW 11th Avenue, Suite 920 Portland, Oregon 97205 (503) 226-2973 FAX 226-2984 www.deanrunyan.com ACKNOWLEDGEMENTS This study was prepared for Cheyenne Frontier Days. Special thanks are due to Tom Hirsig, CEO of Cheyenne Frontier Days. Thanks also to Nicole Gamst, Marketing Director, who served as liaison for this project, and Justin Gorman, Box Office Manager, who along with Nicole was especially helpful with data collection and review of preliminary research findings. i TABLE OF CONTENTS SUMMARY....................................................................................................................................................... III 1. INTRODUCTION AND OVERVIEW .................................................................................................................. 1 DATA COLLECTION AND SAMPLE ................................................................................................................................ 1 ATTENDANCE .......................................................................................................................................................... 1 ECONOMIC IMPACTS ................................................................................................................................................ 2 2. ATTENDEE AND VISITOR PROFILE ................................................................................................................. 3 ACTIVITY AND EVENT PARTICIPATION .......................................................................................................................... 3 PREVIOUS VISITATION AND ORIGIN ............................................................................................................................ 4 TRIP CHARACTERISTICS: OVERNIGHT VS. DAY ............................................................................................................... 5 VISITS TO ATTRACTIONS, OTHER COMMUNITIES, AND PLACES ......................................................................................... 8 TRIP PLANNING AND DEMOGRAPHICS ......................................................................................................................... 9 3. ECONOMIC IMPACTS .................................................................................................................................. 11 METHODOLOGY OVERVIEW ..................................................................................................................................... 11 DIRECT ECONOMIC IMPACTS .................................................................................................................................... 11 SECONDARY IMPACTS ............................................................................................................................................. 13 DETAILED EXPENDITURE DATA ....................................................................................................................... 14 ii Summary In July 2018, Cheyenne Frontier Days attracted approximately 142,000 attendees, most of whom traveled from outside Laramie County. This summary highlights the characteristics of Event attendees and the economic benefits that they generate for Cheyenne and Laramie County. Profile of Cheyenne Frontier Days Attendees The majority of Cheyenne Frontier Days attendees participated in a Frontier Nights/Concert (72%) and/or the Rodeo (74%). A large portion (68%) attended Cheyenne Frontier Days during a previous year. Attending Cheyenne Frontier Days was the primary purpose for travel to Laramie County for the vast majority of overnight (79%) and day (97%) visitors. Just under half (49%) of Cheyenne Frontier Days attendees stayed overnight while traveling. Among overnight visitors, over half (68%) stayed in a hotel, motel, lodge, or B&B; most of the reminder stayed in private homes with friends and relatives, or in campgrounds. Cheyenne Frontier Days attendees traveled to or through a number of Wyoming communities and places including: Laramie, Casper, Yellowstone National Park, Jackson Hole, Snowy Range, and Cody. Economic impacts of visitors who reside outside of Laramie County Visitors to Cheyenne Frontier Days spent $27.1 million in Laramie County. These visitors spent approximately $5.3 million food and beverages in restaurants and bars, $5.1 million on overnight accommodations, $7.8 million on entertainment and recreation, including ticket sales, and $8.8 million on retail purchases, including motor fuel and groceries. Other direct economic impacts include approximately 302 full- and part-time jobs, $5.0 million in earnings (wage and salary disbursements), $633,000 in local tax revenue, and $683,000 in state tax revenue. Total economic impacts, resulting from direct visitor spending, which include secondary impacts (also known as “multiplier effects”), resulted in approximately $35.0 million of business activity generated for Laramie County. iii 1. Introduction and Overview Cheyenne Frontier Days hosts the world’s largest outdoor rodeo and functions as a primary visitor attraction for the City of Cheyenne, Wyoming. In July 2018, the event attracted approximately 142,000 attendees, placing it among the largest attractions in Laramie County. Frontier Nights and Concerts, the western Art Show and Sale, daily rodeos, Indian dancing, parades, pancake breakfasts, carnivals, and entertainment are very popular and attract a substantial number of visitors from outside the County in addition to an audience of Laramie County residents. Based on the results of a survey of Cheyenne Frontier Days attendees, conducted during August 2018, this report provides the economic benefits generated for Cheyenne and Laramie County. In addition, this report describes characteristics for all attendees, including Laramie County residents. Before proceeding it is useful to clarify a couple of terms that appear throughout this discussion: Attendee refers to all persons who attended Cheyenne Frontier Days. Visitor refers specifically to those persons who reside outside of Laramie County and attended the event. Data Collection and Sample An on-line survey of Cheyenne Frontier Days attendees was conducted in order to gather data on visitor expenditures, location of residence, and other factors for which there are no other reliable data sources. Attendance Cheyenne Frontier Days attendance totaled about 142,000 people, as shown in Table 1-1. This estimate is based on ticket sales for the two most popular events – Frontier Nights/concerts and Rodeo -- less the number of persons who attended both (based on Cheyenne Frontier Days survey). The portion attributed to overnight and day travel, as well as average length of stay and party size was also based on Cheyenne Frontier Days survey data. 1 Table 1-1 Attendees, Visitors, and Travel Party Days, July 2018 Ticket Sales: Rodeo and Concerts 216,955 Gate Admissions 31,045 Total Ticketed Sales 248,000 Less: Sales to persons who attended multiple events (106,000) Total Attendees (number of persons) 142,000 Overnight Travel: Overnight Visitors (49%) 69,506 Average Party Size (includes children) 3.4 Overnight Visitor Parties 20,407 Days in Cheyenne 2.8 Overnight Visitor Party Days 56,633 Day Travel: Day Trip Attendees (51%) 72,494 Less: Laramie County Residents (26% of total Attendees) (36,311) Day Trip Visitors (visitors only) 36,184 Average Party Size (includes children) 3.5 Day Trip Visitor Parties 10,381 Day Trip Visitor Party Days 10,381 Source: Dean Runyan Associates Economic Impacts Cheyenne Frontier Days attendees made a wide variety of purchases for food and beverages, lodging, recreation, transportation and retail items. The purchases made by visitors generate additional economic activity within Cheyenne and Laramie County and help support the local businesses. Economic benefits included in the study consist of expenditures, payroll and associated tax revenue generated by Cheyenne Frontier Days attendees who reside outside of Laramie County. From a county-based economic development perspective, it would be inappropriate to include spending by Laramie County residents because these expenditures would not represent new money coming into the county. These detailed findings are described in the third section of this report. 2 2. Attendee and Visitor Profile This section provides survey findings useful for planning, program development, and marketing purposes, and includes data related to: Activity and Event Participation Previous Visitation and Trip Motivation Overnight vs. Day Travel and Nights in Cheyenne Travel Party Companions and Accommodation Type Visits to Attractions, Other Communities, and Places Trip Planning and Demographics Activity and Event Participation Cheyenne Frontier Days attendees participated in a wide variety of activities and events, including two primary ticketed events: Frontier Nights/Concert and the Rodeo. Overall attendance for Cheyenne Frontier Days was estimated based on the survey data collected and ticket sales for these two events. Figure 2-1 Activity and Event Participation, July 2018 Rodeo Frontier Nights/Concert/Night Show Exhibit Area/Vendors Old Frontier Town Indian Village Carnival/Midway Old West Museum Buckin-A-Saloon Pancake Breakfast USAF Thunderbirds Parade Volunteer… 0% 20%
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