How does the Albuquerque International Balloon Fiesta help the local economy?

ALBUQUERQUE, NM (KRQE) – Orders keep pouring in At M’tucci along I-125 in northeast Albuquerque and they have the 50th Albuquerque International Balloon Fiesta to thank.

“It’s pretty busy, you know, it’s good for us. We typically see an increase in sales of around 20% during this time,” said John Haas, Vice President of M’tucci’s.

It’s the big boost they’ve been waiting for all year as thousands of hungry visitors scatter around the city in search of a bite to eat after watching the balloons soar. “This week is kind of like the holiday season, or maybe like Mother’s Day week or around New Year’s Eve, graduation time, where there’s a lot of activity. “Haas said.

But it’s not just restaurants that thrive on the boom that Balloon Fiesta brings. For local businesses in the Old Town, it’s also a time to shine. “It’s kind of like Christmas and it kicks off our festive season. We go straight from Balloon Fiesta into the festive season, so that’s wonderful,” Carol Sinor, owner of blue moon market said.

The shop, nestled along San Felipe, is full of New Mexico products. Everything from clothes to ornaments, and their specialty, home decor. “Our tea towels work really well because they’re balloon themes,” Sinor said.

Last year they saw their profits double during Balloon Fiesta and this year will be no different. “I can say I’ve been in Old Town at this location for about four years and I would say every year that I have, or have been through Balloon Fiesta, we see our profits improve,” Sinor said. .

It cost the city over a million dollars to stage the Balloon Fiesta last year. But according to an audit, the event generated nearly $190 million for the Albuquerque area in 2021.