Calgary Stampede: What the Greatest Outdoor Show on Earth says about the economy
The purple toasted cob of corn shines under the afternoon sun as 25-year-old Allison Zhou lifts it up to show her friends on the opening day of the Calgary Stampede. It's ube-flavoured and covered in white and black sesame seeds. The cost? $15.
"Overpriced, but it's my first Stampede," said Zhou, who moved to the city a few months ago from Toronto. "It's very unique, so I'm down to try it."
At the midpoint of 2025, it's been a tough rodeo for Canada's economy so far, ever since U.S. President Donald Trump returned to the White House in January, sparking a tumultuous trade war with wide-ranging impacts on consumer spending, jobs and travel plans.
For all the talk of a recession, there are few signs of economic hardship as the Greatest Outdoor Show on Earth kicks off in Calgary — a 10-day long celebration with midway rides, bucking broncos and dozens of concerts.
Colton Denis, 17, bought a SuperPass and plans to attend every single day of the Calgary Stampede.
Does he have a budget? "Heck no. Spend all of it," he joked, while walking to the midway looking for pizza. "10 out of 10. This is going to be awesome."
It's not just teenagers in the mood to splurge.
Doug Coleman, 64, is visiting from the Maritimes to take in the festivities, and he hopes to see singer Shania Twain, this year's parade marshal, who will also be performing.
This week, Coleman is firmly putting aside any thought of fiscal restraint.
"I'll be OK. It's just a tap," said Coleman, motioning how he'll be paying with his credit card. "I'll buy what I want. I deserve it."
There's less talk about being frugal in favour of shelling out cash for a good time.
Some of the menu items on the midway include a $26 bucket of crocodile-themed lemonade, a $13 jumbo corndog, and a $16 basket of garlic parmesan fries.
General admission tickets are now $25 for an adult, compared to $18 in 2015.
For all the extravagant spending and often hefty price tags at an event like the Stampede, some people feel like they can still find a bargain.
Fred Parafina, 55, sports a big grin as he holds up two pairs of Lane snake-skin boots he bought for his wife at a western wear shop near the midway.
They're her favourite brand, and he called the $200 he spent an "amazing" deal.
The Stampede is home to the most famous chuckwagon race in the world, known as the "Half-Mile of Hell." A few months before the race, companies bid on the chance to sponsor each team and have their logos displayed on the canvas covering each wagon.
The 2025 tarp auction set a record for the highest average bid. The total tally of $3.84 million fell just short of the all-time high of $4.015 million set in 2012 — the Stampede's centennial year — which included 36 drivers, compared to 27 this year.
At the April auction, reigning chuckwagon champion Jason Glass hauled in the top individual bid of $230,000 from Birchcliff Energy, surpassing last year's biggest bid by $20,000.
At the time, Glass called the result of the bidding "a great relief," considering the economic volatility and trade uncertainty was prominently on everyone's mind on the eve of the auction.
But the economic worries of a few months ago seem largely in the rearview mirror, at least in Alberta. Oil prices this year have repeatedly soared and plummeted, like riding the Outlaw roller-coaster.
Resource-based provinces including Alberta, Saskatchewan and Newfoundland and Labrador are generally fairing better than trade and manufacturing-focused provinces such as Quebec and Ontario.
Staycations and American visitors a boonStampede attendance soared to an all-time high in 2024, with 1,477,953 visitors, surpassing the previous record set in 2012.
Organizers are expecting similar numbers this year, possibly even bigger ones. Various passes are selling well, while premium seats for the rodeo and chuckwagons sold out before Stampede began.
"There are a lot of people staying closer to home this year," said Stampede spokesperson Julie Forget. "This is one of the biggest events in Canada, and I think it's on a lot of people's bucket list to come and check out."
Fewer Americans are travelling north of the border to Canada this year, although Calgary is proving to be an outlier.
In April, 8.9 per cent fewer U.S. residents made the trip to Canada compared to the same month in 2024, according to Statistics Canada.
The number of Americans travelling specifically by air to major Canadian airports showed a drop of six per cent in April. However, at the Calgary International Airport, the figures were completely different, with U.S. arrivals up by 29 per cent.
"We think people are going to be staying closer to home and perhaps going to the Stampede," said ATB Financial chief economist Mark Parsons, who is also expecting another record-setting year for attendance.
"We also see Americans continue to come to Alberta and that bodes well for visitor spending."
Despite the fact that Canada is in the middle of a trade war and consumer sentiment has been rattled by inflation in recent years, there's optimism in Alberta, Parsons says, with the first-ever liquified natural gas exports this week, renewed enthusiasm to build major energy projects in the country, and relatively low interest rates.
Calgary's population is booming, too, with nearly 100,000 new residents in 2024.
Parsons says the Stampede is a bellwether of the overall Alberta economy because "it really sets the stage for how people are feeling."
And people like Calgarian Todd Scott are feeling excited. He's arrived at the Stampede grounds with four kids in tow.
His budget is "unlimited," and with food, rides and carnival games, he expects money will quickly go out the window.
"The whole thing is a splurge."
cbc.ca
