Report: 2023 SXSW generated nearly $381M for Austin economy

AUSTIN (KXAN) — The 2023 South by Southwest Conference and Festivals and SXSW EDU generated nearly $381 million in spending for the Austin economy, according to a SXSW economic impact report released Tuesday.

That spending activity encompasses money spent by attendees, SXSW and its partners at local hotels, venues, bars and restaurants, theaters, caterers and production equipment rentals, among others.

When broken down, that almost $381 million in economic impact comprised $234.1 million via festival attendance, $88.7 million courtesy operational services and $58 million spent by SXSW partners, per the report. Those partners include SXSW exhibitors, sponsors and official parties involved in the festival, the report added.

More than 52,600 hotel room nights were booked in relation to the festival, per the report. In total, there were more than 11,400 hotel reservations made, as well as an average daily retail spending amount of $225.

Seventy music venues participated in SXSW events, featuring just over 2,000 SXSW-designated acts with performers from 60 countries, the report said.

Nearly 3,000 speakers from 35 countries spoke during the event, with eight hotel and conference venues along with seven theaters used. At those theaters, there were nearly 360 screenings created by filmmakers from 34 different countries.

More details from the report's key findings are available online.