Bristol International Balloon Fiesta has cut its deficit after taking urgent steps this year to strengthen its financial stability.
Since the pandemic the iconic free-to-attend event, now in its 46th year, has been operating at a loss, with 2023’s event losing £100,000. 
However, thanks to the support from local businesses, organisations, visitors and the wider public – along with reducing it from four days to three – this year the team have managed to reduce the annual trading deficit to £15,000.
Organisers also said there was increased pressure this year on financial success as well as instilling pride into what has become a mainstay of Bristol’s cultural offering.
An economic impact assessment produced for the fiesta revealed it directly injects £14.7m into the economy during the event week, making it the city’s most valuable annual outdoor event.
Earlier this year organisers said they expected to reduce the costs of staging the event from around £1.1m last year closer to £830,000, which would have still meant a £100,000 deficit.
While work remains to make up for financial losses of the past few years, this year’s progress has given organisers renewed optimism for the event’s future and longevity as it approaches its 50th anniversary in four years’ time. 
A combination of poor weather, the pandemic, rising cost of living, inflation and challenges in the supply chain had put the event’s future in jeopardy – and controlling costs and maximising income this year were widely viewed as crucial to reaching the landmark in 2028.
New revenue generators this year included a nightglow arena access scheme – an exclusive number of tickets allowed access to the arena during the nightglow, an onsite fine dining restaurant hosted by the city’s Pasture eatery, pictured, and the continuation of the Sky Lounge, the ticketed public entry to the fiesta’s VIP area that runs alongside the launch field.
As well as cutting it from four to three days to reduce operational costs, there was also a focus on increasing revenue through sponsorship, commercial partnerships and hospitality packages.
Bristol International Balloon Fiesta executive director Ben Hardy said: “Bristol is the home of ballooning in Europe and an important capital for the sport worldwide.
“For balloon enthusiasts from around the globe, the fiesta is a celebration of the activity, yet for the local community and the history of the city, the fiesta is a cultural festivity that is synonymous with Bristol. 
“We have a social and economic responsibility to protect this event for generations to come, and certainly guide it up to the 50th anniversary in 2028.”
He described the support the fiesta had received this year as exceptional and said the progress it had made underlined its commitment to strengthen the event’s overall financial health.
“While there’s still work to be done to address the full financial picture, we must take a minute to give our gratitude for the great show of support we’ve received from the city,” he added.
“So, to everyone who’s helped us get this far – whether through sponsorship, partnership, in kind support, advertising, ticket purchases or donations – thank you every one of you.”
The fiesta would not have been possible had it not been for the public’s support in purchasing official car parking and hospitality tickets, and making direct donations and the business community for rallying together to ensure the fiesta, he said.
Among this year’s sponsors were Thatchers, Butcombe, The Eco Scheme, Airbus, Bristol Junior Chamber, Village Hotels, Boe Gin, GWR, Epic, Bailey Caravans, The Ivy, Changsha, The James Dyson Foundation, Bristol City Centre BID, Cameron Balloons, The Motorhome Holiday Company, Whats On Bristol, BIMM University, AMBITIOUS, Triangle Networks, Make It China, Leonardo Hotels, Radisson Hotels, Moxy Hotels, Clayton Hotels, Marriott Bristol Royal, Delta Hotels, The Bristol Hotel and Stagecoach.
