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EventScotland : Economic and Social Impact

EventScotland logo Events and festivals are expensive to run and require significant public and private funding to make them sustainable. There is a need to evidence the longitudinal benefits they provide – not only the very tangible economic benefits but the increasingly important social, cultural and environmental impacts festival attract.

The methodology for Economic Impact assessments has been established for a number of years and has been enshrined in the Treasury’s Green Book. Evaluating social, cultural, environmental and media impacts of events and festivals is, comparatively, in its infancy.

GVA RGA developed a methodology for EventScotland to evaluate these event impacts at a range of different event scales – from the large scale events such as the Edinburgh Festival to smaller regional projects.

The economic impact of an endeavour, be it a factory, a music festival or a visitor centre, is determined by the size and distribution of its purchases. A festival generates economic output, both directly, through logistical spend, performers fees etc., at the festival and indirectly through the output and employment generated in firms that supply goods and services to the festival. Financial expenditure from an event in turn supports the output of business which satisfy other consumers’ demand – local services such as pubs, restaurants and garages. These effects are induced, stem from increased festival expenditure and have to be measured along with the direct and indirect effects.

The tasks of an impact assessment is to estimate the multiplied effects of these direct activities.

To find out more about EventScotland click through the link:  EventScotland

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