As costs rise, Calgary businesses count on Stampede’s economic boost

With the Calgary Stampede days away, businesses are hoping a surge in visitors will bring a much-needed boost to the local economy. Kathy Le has more.

CALGARY - With the Calgary Stampede less than a week away, some business owners say this year’s event could not come at a better time as they grapple with rising costs and tighter margins.

For restaurant owner and chef Ashish Damle, the annual influx of visitors can make a big difference.

“The impact is significant. It really, really helps a small business operator like us,” said Damle, owner of Wok and Co. and several other Calgary restaurants.

Damle said his restaurants typically sees weekly revenue increase by between 40 and 60 per cent during the Stampede, with elevated sales often continuing through the rest of July.

The additional customers are especially welcome this year.

“It is challenging. I’m not going to sugar-coat it. Costs are really up,” he said.

“With prices of food and fuel especially, that affects the price of food and alcohol that we buy. The bottom line changes, but then we get relief through events like this.”

The economic benefits are also being felt beyond the restaurant industry.

Robby Khunkhun, an Airbnb host and real estate specialist, said July is consistently his busiest month of the year but so far things have been slow.

“It has been a little bit challenging. I think the number of bookings I’ve seen compared to (this time) last year it’s a little bit less. But we do have so many last-minute bookings when it comes to the summertime,” he said.

He said the city is lucky to have an event like the Stampede to give them the economic lift.

“A lot of people are relying on this income to bank for the summer, to help them get through the winter.”

Moshe Lander, economics professor with Concordia University, said a combination of Canadians choosing to vacation closer to home to save money and potential spillover from the FIFA World Cup in Vancouver, may be what’s helping drive interest in this year’s Stampede.

“Anybody who’s in Vancouver and has a little bit of leftover time is going to say, ‘Hey, let me check out the Calgary Stampede. I’ve heard a lot about this,’” he said.

Beyond the financial gains, Damle said the Stampede also provides valuable exposure for local businesses.

“There’s going to be more people on the streets and we’ll get better exposure as far as a brand goes. That will bring in, of course, financial gains and people will get to know about us more,” he said.

According to an economic impact analysis conducted by MNP for the Calgary Stampede, Stampede-related activity generated $872.4 million in economic output nationally in 2025, including $664.2 million in Calgary and nearly $191 million in wages and salaries for Calgarians.