Festivals and the creative region: the economic and social benefits of cultural festivals in the...
Arts festivals in the East Midlands are generating substantial wealth and employment.
Maughan,C., & Bianchini, F. (2003). Festivals and the creative region: the economic and social benefits of cultural festivals in the East Midlands. London, England: Arts Council England, & De Montfort University.
This study intends to research the social and economic impact of cultural festivals in the East Midlands. It demonstrates the impacts through Case studies of eleven festivals.
“This is the first comprehensive study of festivals in the East Midlands and reflects on the economic and social impact of 11 festivals in the region during 2002.”
Arts festivals are generating substantial wealth and employment; this is illustrated by:
• the total income of all 11 festivals was almost £1million
• more than 40% of the income generated was earned income (ticket sales)
• total spent was £990,000 contributing a further £570,000 to the East Midland’s economy – equivalent to 28 full time jobs
• artists’ fees were the largest expense at 50%, with considerable new work opportunities being created for local artists
• £7 million spent by audiences at local shops and other businesses in the festivals’ host areas. The economic impact of this spending generated a further £4 million to the region – equivalent to 209 full time jobs
• 33% of local businesses thought festivals brought new business
• 93% of businesses saw festivals as good for local communities and 84% saw them as making a good contribution to the development of tourism (P.8).
“The total income of the 11 festivals was just under £1million. More than 40% (over £415,000) was earned income, including membership fees. The largest source of earned income was box office takings at just over £300,000.” (P.14). “The customer effect; expenditure by audiences and its economic impact:
1. Money spent by audiences contributed almost £7 million to the economies of the places hosting the 11 festivals. By applying the same multiplier and average weekly wage used for the festivals’ expenditure, the authors of this study concluded that the amount spent by audiences generated up to £4.16 million additional income for the regional economy, which could support 209.7 additional FTE jobs.
Generally people who travelled further spent more. The average money spent by those who travelled 20 miles or less was £21, rising to £81for those who travelled more than 20 miles. The most extreme example of this was the Buxton International Festival, where the average spent by those who travelled less than 20 miles was £30, as opposed to £161spent by those travelling more than 20 miles.” (P.15).
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