Country music’s popularity is soaring, and with it, the economic impact of events like the CMA Fest. In its 51st year, CMA Fest reported an impressive $77.3 million in estimated direct visitor spending, marking a 3.5% increase from 2023. The event, held from June 6 to 9, attracted a daily crowd of 90,000 fans from 46 countries and all 50 U.S. states.
Visitor Demographics and Spending
On average, groups attending the festival stayed for five nights, spent around $3,608, and consisted of approximately 3.4 people. Notably, 11.4% of the surveyed attendees were international visitors. The states with the largest representation included Tennessee, Florida, New York, Texas, Pennsylvania, and California.
Nashville’s Booming Tourism Economy
Nashville’s live music scene is a significant driver of the city’s tourism economy. According to Deana Ivey, president and CEO of the Nashville Convention & Visitors Corp, this vibrant cultural sector creates jobs, generates tax revenue, and supports local businesses and musicians. Major events like the CMA Fest contribute to record-breaking visitor spending and hotel bookings.
For instance, the Let Freedom Sing! Music City July 4th event saw a record 27,136 hotel rooms booked in Davidson County, the highest ever for Independence Day. The event’s attendance surged by 42% from the previous year, reaching 355,000 attendees and generating $17.5 million in visitor spending.
Record-Breaking Events
Nashville also witnessed record hotel bookings during other significant events. Morgan Wallen’s concerts at Nissan Stadium, a Nashville Predators home playoff game, and college graduations in early May led to the most hotel rooms ever sold on a Friday and Saturday in the city’s history—totaling 75,000 rooms. Another peak occurred on June 28-29, with 74,983 rooms sold, supported by Zach Bryan’s Nissan Stadium concert and the Ally 400 NASCAR Cup Series at the Nashville Superspeedway.
Future Projections
The recent surge in tourism has had a substantial impact on Nashville’s economy. In 2023, the city’s tourism industry generated $10.56 billion in visitor spending. Projections indicate this number will rise to $12.07 billion by 2027, reflecting the growing allure of Nashville as a premier destination for music and cultural events.
As country music continues to captivate audiences worldwide, events like CMA Fest play a pivotal role in boosting Nashville’s economy and showcasing the city’s rich musical heritage. The ongoing success of these festivals underscores the importance of Nashville’s major event strategy, which not only enhances the local economy but also celebrates and sustains the vibrant creative culture at the heart of Music City.
Barb is the president of NASTRA and has spent her professional career in hospitality and real estate. After acquiring her first short-term rental in 2018, Barb moved her focus to legal advocacy after she sued the city of Nashville over a permit issue. Over the last three years, she has mentored more than 2,800 new STR hosts and is the Community Leader for Airbnb in Nashville, as well as an Airbnb “Ask a Superhost” Ambassador. Barb has appeared on numerous radio broadcasts, television shows, and podcasts to talk about her love of hosting. She also manages and co-hosts a number of short term rentals across Tennessee and Arkansas. Barb and her husband Pat own a hotel brokerage, development and consulting company. Look for her upcoming podcast series, “Women of Airbnb.”