Disappointing End To Madrid Pride As Revenue Half Of Forecast

Madrid Pride 23 came to a climax this weekend with the flagship parade through Colon and the Castellana followed by the Closing Party in Chueca on Sunday 2nd July.

However this year´s week-long LGBT Pride event has proved a disapointment to the organisers who have said that the revenue generated by the event came to some 148 million Euros amounting to less than half the expected revenue projections made by Hostelería Madrid, which had forecast surpassing 300 million euros in 2023 with an  estimated attendance of up to 2 million people, 35% of whom would be foreigners.

In the end, the actual number of attendees was 1 million people.

The Madrid Hotel Association, which reported average daily revenues of 54 million euros over the weekend (a total of 108 million euros on Friday and Saturday) and 13 million euros per day during the week (a total of 39 million euros on Wednesday, Thursday, and Sunday).

The average spending remained consistent during this edition of Madrid Pride, with 80 euros per day for international visitors and 40 euros per day for domestic visitors.

The less than half the projected income has come as a surprise to the organisers which had expected that the longer opening hours ( two hours more) for all hospitality and leisure establishments throughout the capital would be decisive in meeting the target projections .



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