A report from the Association of Independent Festivals (AIF) released this week demonstrates that music festival business is booming and defying the economic downturn by contributing more than £1bn each year to the UK economy.
The second annual AIF survey questioned nearly 5,000 festival attendees at 13 of its member festivals about spending habits regarding festivals in the UK.
The 24 member festivals of AIF generate more than £130m into the economy and an estimated £12m into local businesses within proximity of festival sites.
However, an estimated 400 festivals take place in the UK each year, many of them on a larger scale than AIF events and this has resulted in the £1bn calculation.
According to the figures, 350,000 people attending Independent festivals will spend an average of £346 on festivals this year, including ticket prices and contributing to the local economy of festivals.
AIF Chair Alison Wenham said in a statement: “What this survey shows us is that people want to go to all sorts of music festivals, so our events have to cater to all ages and styles of music.”
Those with concerns about the carbon impact of large live music events on the environment will welcome the news that the 10 leading festival events, including Leeds / Reading are aiming to reduce their carbon footprint by at least 10% this summer as part of a unique collaboration with industry body Julie’s Bicycle.
Evolution Festival, which was held this year over the weekend of 30th / 31st May in Newcastle / Gateshead are part of the AIF.
The event saw huge crowds descend into the city and the packed out main arena reached maximum capacity on several occasions despite the organisers increasing the overall capacity of the two-day event this year.
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