ROSWELL, NM (KRQE) – A new report has been released on the economic impact the Roswell UFO Festival has brought to the city of Roswell. In total, the festival brought in $2.19 million from the four-day festival.
The UFO festival is the city’s biggest source of income. The city of Roswell spent $212,638.13 on the festival. Many local businesses said they felt the impact of the festival.
“We make our living from tourism, and this year was no exception,” said Robert Johnston, manager of Peppers Bar & Grill in Roswell.
The report shows that 52% of revenue was spent on food and beverages. Restaurants like Peppers Bar & Grill say the festival usually brings in the most money, but not everything is great. Restaurants explained that they had fewer customers due to inflation.
“The actual numbers that week, basically, we were down about 21% for the same week versus their previous year in 2021,” Johnston said, “So, I mean, as far as the number of customers, I mean, our numbers were almost the same. But like sales, they weren’t as big as a year ago.”
Hotels continue to record high profits. The festival brought in $767,957.97 in people who spent the night. Ticket sales brought in just over $94,138.50. Peppers hopes that revenue from the festival will only continue to grow.
“The UFO Festival brings in a lot of tourism and we hope that both Roswell and the state of New Mexico will continue to welcome people into our communities and help strengthen our economy to get us through these tough times,” Johnston said.
The next UFO festival is scheduled for June 30 to July 2, 2023, one day shorter than this year’s festival.