During SXSW in 2012, official events resulted in a $190.3 million boost to the Austin economy, an increase of about $23 million compared with 2011, according to a study by Greyhill Advisors, an economic analysis and development consulting firm that has offices in Austin. The events' official participants increased by 15 percent to 302,700, and festival attendance expenditures generated $116.6 million of the $190 million economic impact. Ninety percent of the $116.6 million was nonlocal spending, according to Greyhill Advisors partner Ben Loftsgaarden.
SXSW 101: How SXSW programs its conferences
Among the biggest draws at SXSW are the panel discussions, which take place throughout downtown Austin and cover hundreds of topics. To choose worthy topics for 2012, SXSW solicited panel suggestions worldwide in 2011. There were 3,231 proposals for SXSW Interactive, 176 for SXSW Film and 333 for SXSW Music. SXSW posted the ideas online and allowed Internet users to vote for their favorites through its PanelPicker program, while SXSW's staff and advisory board also participated in programming selection.
Springsteen to SXSW musicians: 'Open your ears and open your hearts'