SUMMARY OF ECONOMIC IMPACT
The 2022 National Cherry Festival is estimated to have generated or supported economic benefits for Grand Traverse County in the following ways:
- 323,500 total visitors, with 73% visiting from outside of Grand Traverse County. Over 30 states and ten countries were represented. The average age of all visitors was 47 years old.
- 48% of all visitors and 57% of all nonlocal visitors stated that the National Cherry Festival was their primary reason for visiting Traverse City.
- There were 155,260 total primary visitor days, with 85% coming from nonlocal visitors. These nonlocal visitors spent on average two days at the festival.
- Direct spending of all primary visitors was $22.2 million, with nonlocal primary visitors spending $19.3 million.
- The total economic impact of nonlocal primary visitors is estimated at $25.7 million in economic output supporting 258 jobs.
- The total economic impact of all primary visitor spending and the festival operational spending is estimated at $33.4 million in economic output supporting 323 jobs.
- Nonlocal primary visitors generated approximately $143,970 in additional tax revenue for Grand Traverse County. The National Cherry Festival operational spending generated an additional $5,001 in tax revenue for the county.
- Based on their experience at the National Cherry Festival, 97% of the survey respondents said they were “very likely” or “somewhat likely” to visit Traverse City again.
- 84% of survey respondents have visited the National Cherry Festival at least three times.
- 89% of survey respondents said they were “very likely” or “somewhat likely” to recommend the National Cherry Festival to a friend and 94% said they were “very likely” or “somewhat likely” to recommend visiting Traverse City to a friend.
Glupker, Christian and Isely, Paul, "The Economic Assessment of the 2022 National Cherry Festival" (2022). Other Faculty Publications. 10.