OTTAWA, Canada (CelebrityAccess MediaWire) — World-class festivals and events have been a driving force in the Canadian economy throughout the recession, according to an independent analysis of reports submitted by major festivals to the federal government.
A study released by the Canadian Festivals Coalition estimates that 15 of the largest festivals and events in Canada, including the Cisco Ottawa Bluesfest, attract 12,600,000 attendees annually, contribute $650 million in GDP to their local economies, and support the equivalent of 15,600 full-year jobs nationwide.
This substantial economic impact is derived from operational and tourism spending estimated at $1.1 billion per year. The analysis, commissioned by the Canadian Festivals Coalition and compiled by Toronto-based Enigma Research Corporation, also estimated that tourism and operational spending related to these events generates approximately $260 million in tax revenue for all three levels of government.
The federal government’s support of festivals and events through its Marquee Tourism Events Program played a decisive role in these strong results. As part of the government’s 2009 Action Plan, the program’s two-year $100-million investment recognized that major cultural festivals and events form a sector of the economy that generates significant economic returns.
Industry Canada announced $1.97 million has been invested in the Cisco Ottawa Bluesfest. “This is a good-news-story for all Canadians,” says Ottawa Bluesfest executive director Mark Monahan. “There’s a very good reason why Canada is leading the world out of the worst recession since the Great Depression. The federal government’s economic action plan is producing staggering outcomes. Their funding of marquee festivals in Canada has produced immediate and meaningful results for the Canadian economy.”
The 15 events included in the analysis were: the Canadian National Exhibition, the Carnaval de Québec, the Charlottetown Festival, the Festival d’été de Québec, Les FrancoFolies de Montréal, Luminato, the Montreal International Jazz Festival, the Montreal Just For Laughs Festival, the Cisco Ottawa Bluesfest, the Pacific National Exhibition, the Royal Agricultural Winter Fair, the Shaw Festival, the Stratford Shakespeare Festival, the Toronto International Film Festival and the Vancouver International Jazz Festival.
–by CelebrityAccess Staff Writers
