Edinburgh’s £1bn Fringe benefits

Published: 07 August 2019

The Edinburgh Festival Fringe is worth about £1bn to Scotland — three times greater than had been thought.

The London-based Centre for Economics and Business Research (CEBR) calculates that the annual event, which attracts tens of thousands of people to the Scottish capital, generates £500m in direct spend.

The injection of extra income fuels a “multiplier effect”, involving more spending and more income, that pumps a further £560m into Edinburgh’s economy and beyond.

We think that the indirect impacts of the festival spending are an additional £560m...

Douglas McWilliams, Deputy Chairman, Centre for Economics and Business Research

 

The last official estimate of the economic impact of the Edinburgh festival in 2015 suggested that it contributed £312m to Scottish gross domestic product. It assumed that the average visitor, performer or supporter who attended the festival spent £195 additionally in Edinburgh.

Official data shows that the Edinburgh festival supports 2,842 jobs in the capital each year — and a further 3,400 across the country — with admissions up by about 45% since 2010, and by nearly a quarter in the last three years alone, to a record 2.83m.

More than 59,600 performances of 3,841 shows will be staged across 323 venues this month, suggesting that the Fringe has grown by about 20% in five years...

Full story via The Times news

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