New study shows economic impact

Independent research published today confirms the huge contribution that Edinburgh’s festivals make to the economic vitality of the city and beyond.

The latest study, which involved surveying 22,000 people last year, found that the events – led by the Fringe – attracted 700,000 people who between them racked up 3.2million attendances – on a par with FIFA World Cup’s 3.4million. And that’s despite running at a reduced scale in 2022

Other facts and figures are

• Economic impact increased in Edinburgh from £280million  [2015] to £407million  [2022]
• Economic impact increased in Scotland from £313million  [2015] to £367million  [2022]
• Edinburgh Festivals are Important drivers in the national economy
• Proportion of visitors from outside Scotland increased from 25 per cent [2015] to 31 per cent [2022]
• Spend by visitors from outside Scotland increased from £95million [2015] to £137million  [2022]
• The festivals  create the full-time equivalent of 5,850 jobs in Edinburgh
• Half of visitors spending goes on accommodation (c£85million), 25 per cent on food & drink (c£42million) and a further 19 per cent on shopping (c£31million )
• Edinburgh Festivals generate £33 in economic impact for every £1 invested from the public purse
• 1.5m of the 3.2 million attendances were by Scottish residents

Introducing the study, Dr Simon Gage, chair of Festivals Edinburgh said: ‘The positive impact our festivals have on businesses, jobs and livelihoods is great news for the people of our city and country - and we need to ensure that this economic recovery is built on a solid foundation of good responsible growth, looking after our people, our place and our planet.

"In this instance our impact is primarily felt by the tourism and hospitality sectors, not by the festivals themselves and the people who make them happen – in fact, their unique cultural programmes are hanging each year by a precarious financial thread, damaged by Covid lockdowns and over 15 years of declining investment.

‘We call on all funders and supporters to come together to consider their long-term role in helping the Edinburgh festivals remain Scotland’s world leading cultural brands and a crucial economic powerhouse for people’s jobs and livelihoods’

Richard Naylor, director of research at BOP Consulting, which carried out the report, said: ‘This study confirms and further strengthens the key message that the festivals are a major contributor to both the local Edinburgh economy and the national Scottish economy. This economic impact spreads far beyond the immediate cultural economy, with the biggest beneficiary businesses being those in the tourism and hospitality sectors.’

‘That the festivals have bounced back so strongly shows the importance of communal events in our post-pandemic world, with audiences and visitors increasingly seeking out unique cultural experiences such as the Edinburgh festivals.’

The 11 festivals reviewed as part of the study were - Edinburgh Science Festival, Edinburgh International Children’s Festival, Edinburgh International Film Festival, Edinburgh Jazz and Blues Festival, Edinburgh Art Festival, The Royal Edinburgh Military Tattoo, Edinburgh Festival Fringe, Edinburgh International Festival, Edinburgh International Book Festival, Scottish International Storytelling Festival, and Edinburgh’s Hogmanay.

Published: 28 Jun 2023