Calgary Stampede: Welcome to the Economic Rodeo

Emmet McGonagle

Jul 05, 2023

It’s time to throw on your finest cowboy garb - The Calgary Stampede is back for another year of rootin’ tootin’ tents, talents and (of course) many, many fireworks. 


Following a stripped-back iteration of the festivities in 2021 (during the coronavirus pandemic), last year’s festival posted excess revenues of $13.8 million, propelled largely by just short of $13 million in federal government pandemic relief funding and $6 million in provincial grants (source: Calgary Herald).


The event itself saw more than 1.2 million attendees (the same number of people the US population grew by last year, just for context); and while $8.9 million of the government’s $10 million Major Festivals and Events Support Initiative were invested into last year’s Calgary Stampede, the remainder will be spent on this year’s festivities.


According to Calgary Stampede - a “not-for-profit community organization that preserves and celebrates our western heritage, cultures and community spirit” (according to its website) - park visitors spend an estimated $345m annually in Alberta, the majority of which ($300m) is spent in Calgary businesses such as hotels, restaurants and shops. 


Stampede Park itself hosts more than 1,200 events each year across sectors including business, tourism, sporting, hospitality and community, welcoming upwards of four million guests along the way.


These events create thousands of jobs across Calgary - including more than 2,500 volunteer roles from Stampede itself - contributing more than $540m to the Alberta economy.


Calgary Stampede CEO Joel Cowley has also ensured more space is available for attendees in 2023, moving the famous Coca-Cola Stage and Voila’s Dog Bowl to create better roaming-room for all involved.


“We’re really focused on utilizing the entire footprint of Stampede Park,” Cowley said.


On the topic, he continued: “We’ve also been able to increase funding for our volunteer committees, which is really important to us.

“It’s a better (financial) conversation this year.”

Do you have a question about angel investing? Get in touch with Valhalla Private Capital via our contact page.

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