Calgary Stampede faces adverse economic run

The Calgary Stampede is an annual rodeo, exhibition and festival held every July in Calgary, Alberta, Canada.

Albertans call it ‘The Greatest Outdoor show on Earth’. The event started in 1896.

In 1912, an American promoter named Guy Weadick organised his first rodeo and since then the festival is known as the Stampede.

The Stampede is known to attract over million visitors every year to one of the world's largest rodeo, stampede parade, midway, stage shows, concerts, agricultural competitions, chuck wagon racing and Aboriginals' Exhibition.

However, in 2016, Calgary Stampede recorded its lowest attendance in 22 years, a total of 1,088,000 visitors over 10 days, the lowest since 1994, when 1,082000 people came through the turnstiles. 

The organisers have attributed the low attendance to inclement weather and the economic downturn.

Compared to 2014 and 2015, the 2016 attendance was down by 13 per cent (1,60,000) and 7 per cent (80,000), respectively. 

The economic downturn theory was further corroborated by a report from TD Economics (provides analysis of economic performance and its implications for investors), which said that Alberta's current economic downturn is likely to be more severe compared to the past four recessions.

To attract more visitors, the organisers had lowered the admission rate from $18 to $5 from 5 to 7 PM on Thursday and Friday and allowed free admission on Sunday, the last day of the event.

It helped to attract 65,000 visitors on the last day, thereby boosting overall attendance figures at the final tally.

(Reporting by Chandan Som)