Summerfest and Henry Maier Festival Park generated $318 million in economic impact for the state in 2023, according to a recent independent study.
Summerfest alone generated a total economic impact of $160.3 million for the city of Milwaukee and supported a total of 3,400 part-time and full-time jobs. The long-running music festival, held for nine days over three successive weekends in June and July, also generated $188.7 million in economic impact for the state, along with $14.4 million in state and local taxes, according to the study conducted by Tourism Economics, a global economic forecasting and econometric analysis firm that has its United States headquarters in Wayne, Pennsylvania.
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Milwaukee World Festival, which maintains and improves Henry Maier Festival Park, the 75-acre parcel on the shore of Lake Michigan, hosted 64 events in 2023, an 83% increase in comparison to 2019, the year prior to the outbreak of the COVID-19 pandemic. More than 1.2 million people attended or visited Summerfest, ethnic and cultural festivals, concerts, the Northwestern Mutual Community Park and other community events.
The 2023 event season at Henry Maier Festival Park generated an economic impact of $263.2 million in Milwaukee while supporting a total of 4,300 part-time and full-time jobs, according to the report. The economic impact for the state reached $318 million while generating $22.6 million in state and local taxes.
“As demonstrated by these numbers, Summerfest and the events at Henry Maier Festival Park are a powerhouse for our local and regional economy,” said Mary Ellen Stanek, chairwoman of Milwaukee World Festival’s board of directors.
Other key findings from the study include:
- Total direct spending during the three weekends of Summerfest in 2023 amounted to $110.2 million, with visitors and vendors spending money on items such as food, souvenirs and other retail purchases.
- For events held at Henry Maier Festival Park in 2023, $182.4 million can be attributed to direct spending at festivals and events, as well as other establishments and businesses in the area, such as local restaurants, hotels, retailers and recreation/entertainment venues.
“The results confirm the remarkable impact of Henry Maier Festival Park’s event season, serving as a catalyst for economic impact, bolstering revenues for businesses and providing significant employment opportunities within our community,” Milwaukee World Festival President and Chief Executive Officer Sarah Pancheri said. “As visitors enjoy our city and events, they contribute to the vibrancy of our local economy and amplify our region’s appeal on a global scale.”
