Economic Impact of EDC
Just a few weeks ago today, many of us were dancing together under the electric sky at Electric Daisy Carnival Las Vegas. We all made memories that will last us a lifetime, and the majority of us would say the money we spent was well worth it. Besides the cost of the ticket, most attendees had to spend money on transportation to Las Vegas, a hotel room, transportation to the speedway, food, water, alcohol, pool parties, clubbing, and plenty of other items here and there. Think about how much money you spent, now multiply that by 144,000 (the number of people that attended EDC), and that’s around how much money Las Vegas gained from attendee spending alone. This is estimated to total around $158 million dollars. In addition to attendee spending there were countless jobs created, and many other factors that added an additional $164 million dollars, totaling $322 million. Since moving EDC to Las Vegas in 2011, there has been an estimated $621 million dollars fed into the Las Vegas economy.
The event moved from Los Angeles to Las Vegas because Las Vegas in one of the only places to have a venue capable of hosting 8 stages, 150,000 people, 5 ferris wheels, and lots of carnival rides. The mayor of LA, Eric Garcetti, has expressed interest in bringing EDC back to LA, but after making so much money, I’d imagine Las Vegas will fight to keep EDC for as long as possible. Las Vegas welcomed EDC into it’s city with open arms. All over the airport, taxis, and hotels were signings saying, “Welcome Headliners”, “This is EDC Week”. The mayor of Las Vegas, Oscar Goodman, presented Insomniac CEO, Pasquale Rotella, with a proclamation declaring the week of EDC, to be “EDC Week”. This is now the first publicly sanctioned electronic dance event.
Due to the massive economic success of EDC moving to Las Vegas, Pasquale recently announced another Insomniac event, Nocturnal Wonderland, would be expanding to Las Vegas within the next few years. Pasquale has also thrown around the idea that EDC may be expanded to two weekends like Coachella and other music festivals. Expanding EDC to two weekends, or adding more events would bring even more income into the Vegas country We are excited to see what Las Vegas has in store for the EDM community!
Written By: Allison Regan