As the early July sun casts its warm glow across the city, Calgary once again transforms into a living testament of western heritage. The familiar sights of cowboy hats and boots have returned to downtown streets, signaling that Stampede season is officially upon us.
This year’s Stampede arrives during an interesting economic moment for our city. Walking through the grounds yesterday, I couldn’t help but notice a palpable sense of optimism among the oil and gas contingent – something we haven’t consistently felt in recent years.
“We’re seeing capital flow back into Alberta energy at levels we haven’t experienced since before 2015,” explains Janet Morrison, Chief Economist at Calgary Economic Development. “The Stampede has always been where deals get done and relationships get built. This year, there’s simply more to work with.”
The numbers support this renewed confidence. According to the Alberta Energy Regulator, investment in the province’s energy sector increased by nearly 18% in the first quarter compared to last year. This translates directly to Stampede spending, with corporate hospitality budgets expanding after years of belt-tightening.
Local hotels report near-capacity bookings, with the Calgary Hotel Association noting rates up approximately 12% from 2023. The economic ripple extends beyond traditional hospitality sectors.
“We’ve seen a 30% increase in Stampede-related bookings this year,” shares Michael Thompson, owner of Ranchman’s Western Wear. “And these aren’t just tourists – these are local oil executives and their teams gearing up for corporate events. They’re spending again.”
The Stampede itself expects to generate over $540 million in economic activity for the city – up from $490 million last year, according to preliminary estimates from Tourism Calgary.
During my conversation with Mayor Jyoti Gondek at yesterday’s Stampede Breakfast, she emphasized the importance of this economic boost. “The Stampede represents more than just our heritage – it’s a critical economic driver that supports thousands of jobs and hundreds of small businesses across the city.”
What’s particularly interesting this year is how the traditional oil and gas celebration has begun to embrace new energy narratives. Walking through the BMO Centre, I noticed several displays highlighting carbon capture technologies and sustainable energy innovations alongside conventional drilling exhibitions.
“Calgary’s energy story is evolving,” notes Rachel Wilson, Director of Energy Transition at the University of Calgary. “The Stampede has always reflected our economic identity, and that identity now includes both traditional energy strength and innovation toward lower carbon solutions.”
This balance of old and new seems to be striking a chord with both locals and visitors. Attendance figures for the first weekend exceeded expectations, with organizers reporting a 7% increase over last year’s opening days.
The economic boost comes at a critical time for many small businesses still recovering from the pandemic’s lingering effects. Frank Rodriguez, who operates three food trucks that rely heavily on Stampede season, told me this might be his most profitable year yet.
“Last year was good, but this year has been incredible so far,” Rodriguez explained while serving a steady line of customers at his Stampede-themed mini donuts stand. “People aren’t just coming out – they’re spending more freely than I’ve seen in years.”
Beyond the numbers, there’s something different about the energy this year – a blend of economic relief and genuine pride in local identity that transcends financial metrics.
During yesterday’s parade, I watched as crowds three and four deep lined the streets, many wearing shirts displaying messages of provincial pride. This intersection of economic optimism and cultural identity has always been the Stampede’s sweet spot.
For Calgary, the ten-day festival represents more than just a boost to local restaurants and hotels. It serves as a barometer for our collective spirit – and if the first few days are any indication, that spirit is strong in 2024.
As the week unfolds, I’ll be taking a deeper look at how this renewed energy sector confidence translates to long-term economic stability for our city. For now, though, there’s something reassuring about seeing Calgary embrace both its traditional identity and economic future with equal enthusiasm.
The Stampede may be rooted in our past, but this year, it seems equally focused on writing the next chapter of Calgary’s story.
