A study published recently shows the Hangout Music Fest on Alabama’s Gulf Coast has a massive impact on the region’s economy every year. The study by Auburn economics professor Dr. Keivan Deravi outlines how the three-day, premier entertainment event generates a $45 million annual economic impact on the area.
The festival which takes place in Gulf Shores supports nearly 600 jobs and attracts more than 44,000 fans from all over the world.
Hangout Fest serves as the perfect window through which others can see all the amenities of Alabama’s beautiful Gulf Coast. Media coverage has created 14 million viewers across the globe and 29 million social media impressions. In fact, 80 percent of all visitors come from outside the state, providing an extra boost to Alabama’s economy.
Nowhere is the Hangout Festival’s impact felt more than right here at home.
Greg Canfield, secretary of the Alabama Department of Commerce, spoke about the importance of Hangout Fest to the state’s economy.
“While the Hangout Music Fest has long been a premier, star-studded entertainment event that brings energy to Alabama’s Gulf Coast every summer, it has also become a powerful economic engine in its own right,” Canfield said. “Fans come from from all over the world, and the ripple effects from their spending represent a significant contribution to the local economy.”
The cumulative total of the festival’s economic impact since 2010 is now $290 million.
With that kind of revenue associated with the event, it is no wonder that Hangout Fest attracts a high-end clientele seeking to take advantage of premium amenities. Luxury suites, a private reception and personalized concierge services are only some of Hangout Fest’s select offerings.
For more information on Hangout Music Fest visit HangoutMusicFest.com.
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