The College of Charleston’s Office of Tourism Analysis has been crunching numbers since March, and they’ve come to a not-so-surprising conclusion: Charleston Fashion Week is very good for our city.
The 2010 Economic Impact Study states that the five-night event helped boost the local economy by $1.7 million. They used online and on-site surveys to determine that visitors spent $34 more per day than average tourists, on food, lodging, and shopping, making their average daily expenditure $202. Other findings: attendees say they spent an average of $5000 per year on fashion and planned to visit local stores, 40 percent of attendees reported a household income of more than $100K, and the average age of attendees is 34 years old. In addition, over 22 jobs were created for the event.
If the last four years is any indication, next year’s CFW will be bigger and better than ever. Lesson learned: Don’t underestimate the power of fashion.