The Virgin Music Festival attracted some big names over the weekend, like Pearl Jam and Billy Talent and fans were not disappointed by the event, venue or weather.

33,000 people attended the concert at Canada Olympic Park which is a slight drop from last year when 35,000 people took in the party.

Virgin says the economy and poor weather leading into the festival were the main reasons why attendance was down.

Economists say the significance of events like this for the city is huge and that the growing number and diversity of festivals is crucial to Calgary's success as a city.

" It's important as we begin to promote the city long term as a great destination to live and work that we have these kind of events to attract people because they're looking for that kind of event," said Adam Legge from Calgary Economic Development.

Calgary hosts more than thirty festivals each year and August is considered peak season for festival goers.

Globalfest is set to start this weekend.