The inaugural Santa Fe International Folk Art Market was held June 16-17, 2017 on the campus of the University of Texas at Arlington (UTA). The event featured over 30 master artists and their handmade goods from such diverse countries as Italy, Ghana, Uzbekistan, Nigeria, Ukraine, South Sudan, Myanmar, and Peru, and among others. Total attendance to the event was 3,408. Southwest Planning & Marketing (SWPM) conducted a survey of attendees to gather information about activities participated in during the event, overall satisfaction, marketing of the event, the economic impact of the event, and attendee demographics. IFAA emailed a link to the survey to event attendees in the week following the Market.
- Economic Impact Summary Total spending by attendees outside of the event as a result of the Market was $311,500 (combined lodging, food/ meals, transportation/fuel, attractions/entertainment, and Shopping/miscellaneous).
- The total amount spent by attendees on shopping at Market was $160,000.
- Total lodging-related tax benefits that accrued to the City of Arlington as a result of Market was $2,328 (sales tax + hotel occupancy tax + public improvement district assessment).
- Estimated sales tax resulting from Market from Attendee spending outside of the event was $21,559, with $3,501 accruing to the City of Arlington and $18,058 to the State of Texas.
- Estimated sales tax resulting from attendee shopping at Market was $12,800, with $2,800 accruing to the City of Arlington and $10,000 to the State of Texas. Total estimated combined sales tax from attendee spending inside and outside of Market was $34,359, with $6,301 accruing to the City of Arlington and $28,058 to the State of Texas.
- Combining tax revenues from all applicable sources yielded total estimated tax revenues of $42,820, with $8,299 accruing to the City of Arlington and $34,521 to the State of Texas.
IFAA and its partners spent $290,743 to produce the Market; combining this with total spending outside the event by attendees ($311,500)) yielded total direct spending that impacted the region attributable to Market of $602,243.
The resulting total direct economic impact of Market (direct spending + sales tax + hotel occupancy tax (HOT) + Arlington Public Improvement District (PID) assessment) was $645,063.
Tax Revenues Resulting from Market Sales Tax
- Attendee Spending Outside of the Event $21,559
- Sales Tax – Attendee Shopping at Market $12,800
- Hotel Occupancy Tax $8,159
- Arlington Public Improvement District Assessment $302
Economic Impact to the Region
- Total Tax Revenues Resulting from Market $42,820
- Attendee Spending Outside of Market $311,500
- Market Production Costs $290,743