festival economy

The festival economy refers to the economic activity generated by festivals and similar events. This includes the money spent by attendees on tickets, food, accommodation, and souvenirs, as well as the earnings of vendors, performers, and local businesses. Festivals often stimulate tourism, create jobs, and foster community engagement. By attracting visitors, they can significantly boost local economies, sometimes leading to long-term benefits such as infrastructure improvements and enhanced community identity. Overall, the festival economy highlights the intertwined relationship between cultural events and regional economic growth.