July 5, 2024

Chart of the Week: The Stampede effect

One way to get our heads around the economic impact of a major event like the Calgary Stampede is to use ATB’s Alberta Consumer Spending Tracker. Using the Mastercard transactions of ATB clients as a proxy for spending by Albertans, we can examine how expenditure levels in the “dining and entertainment” category change during Stampede. Because most ATB clients live in Alberta, the Tracker does not capture spending by out-of-province tourists, but it clearly shows a “Stampede effect” on the spending of Albertans.

Looking at spending on dining and entertainment in the province before, during, and after the Stampede, there was a noticeable increase in spending levels during the Stampede in 2023 (July 7-16) relative to spending the week before and after. The same jump during Stampede was observed in 2022 and 2021. Would these jumps occur in early July without an event like Stampede to spur it on? Maybe a little, given that the kids are out of school and the weather is (generally) pretty nice, but the sharp drop in spending the week after Stampede suggests it's not just the pursuit of easy living during summer that is at work.