CNBC.com's Kim Khan is temporarily hijacking Eurocentric to provide blogs on the business of brewing from Oktoberfest in Munich.
The brewing industry has faced tough times of late. Traditionally a defensive sector, brewers are facing stiff competition from wine and spirits.
But as the economic slowdown spreads, beer could see a resurgence. And Oktoberfest's numbers indicate that the love for barley, hops, yeast and water is undeterred in certain regions.
Here's a breakdown of the economic impact of the beer festival:
· Visitors spend about 954 million euros ($1.4 billion) during Oktoberfest in Munich. About 300 million is spent on overnight accommodation (although 6 percent choose to sleep in their cars.)
· About 55 percent of foreign visitors return to Oktoberfest regularly.
· Only about 5 percent of visitors to Munich combine Oktoberfest with business (thanks CNBC.com).
· The celebration creates about 12,000 jobs, of which 8,000 are permanent.
· Google returns nearly 1.3 million sites related to Oktoberfest.
· The biggest worldwide Oktoberfest celebrations are Blumenau, Brazil and Kitchener, Canada, both of which have about one million visitors. The Oktoberfest in Cincinnati, Ohio draws about 500,000 visitors.
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