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Dateline:
10th June, 2005
The Edinburgh Festivals: the Economic
Impact
In Summer 2004 a major research study of the Edinburgh Festivals was
commissioned. Funded by City of Edinburgh Council, Scottish Enterprise
Edinburgh and Lothian, VisitScotland and EventScotland, the primary
aim of the two-part study was to assess the economic impact that both
the summer and winter Festivals have on Edinburgh, the Lothians and
Scotland. The results of the study were released as the details of the
2005 Fringe were announced.
Here are some of the key findings:
- Economic Impact on Scotland
The Edinburgh Summer Festivals as a whole generate £135 million
in Edinburgh
Of this the Fringe alone generates £75 million
- Visitors
65% of all visitors to Edinburgh said the Festivals were their sole
reason or a very important reason for coming
50% of visitors were influenced by the Fringe.
- Where people are coming from
30% from Edinburgh
28% from rest of Scotland
27% from rest of UK
15% from overseas
- Attendance
In 2004 the Edinburgh Summer Festivals recorded attendance of just
over 2.5 million (compared to 1.25 million in 1997). The Fringe generated
just over half of these attendances.
- Accommodation
£76 million was spent by festival visitors with accommodation
providers in Scotland. £49 million of this was spent in Edinburgh.
Hotel occupancy was at 88% in August. 70% of this is attributable
to the Festivals.
40% of hotels had to turn more than 200 people away.
- Employment
The Summer festivals create 2,500 full time jobs in Edinburgh, and
2,900 jobs in Scotland.
The Fringe creates 1380 of these jobs in Edinburgh.
- Tourism
47% of all Festival attendees were on a trip with at least one night
away from home
The average length of stay of overnight visitors was 5 nights
Approx 100,000 Festival visitors stayed outside Edinburgh and the
Lothian:
· 29,000 people who attended Festival events stayed in Glasgow
· 29,000 people stayed in the Highlands and islands
· 15,000 stayed in the old Central region
· 8,000 stayed in the Borders
· 6,000 stayed in Fife
· 6,000 stayed in Grampian
- Publicity
Media coverage generated by the Festivals has an advertising equivalency
value of £11.6 million. Of this, the Fringe’s contribution
is £6.6 million (Fringe coverage represented 52% of the total).
- Quality of Life
It was widely acknowledged by residents that “Edinburgh is a
better place to live because if the Festivals”.
90% of hotels believe having a variety of Festivals on at the same
time adds to the overall appeal of the city. Edinburgh residents strongly
agreed with this statement also.
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