Date Created: 02 September 2011
Edinburgh's year-round festivals draw around four million people each year – from home and overseas – to the Scottish capital.
New research said Edinburgh’s festivals were valued at £261m in 2010, which is worth five times as much as single events such as Glastonbury.
Combined the festivals could be worth more than £250 million a year to the Scottish economy, which is more than golf tourism brings in each year.
The Edinburgh Festivals Impact Study included 15,000 survey responses over a 12-month period. It is the largest programme of research undertaken into Edinburgh's 12 major festivals.
It found the festivals, which include a range of celebrations from the Hogmanay events to the Science Festival in March, and the Edinburgh Fringe and Military Tattoo in August, attract millions of business and holiday tourists, with most of the non-ticket visitor expenditure going to hotels and accommodation, food and drink establishments and retailers.
Lady Susan Rice, chairwoman of the Festivals Forum, which commissioned the report, said: "Edinburgh's Festivals are a cultural phenomenon, celebrated globally and treasured locally.
"They are one of Scotland's most visible assets and, thanks to this study, we now have a clearer understanding of the breadth of their benefits reach across Edinburgh and Scotland.”
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