About the Measurement of the Regional Economic Effect of Cultural Festivals

Toni Kondzhov ()
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Toni Kondzhov: Sofia University "St. Kliment Ohridski"

Regional Economy and Sustainable Development, Conference Proceedings 2017, 2018, issue 1, 461-467

Abstract: The cultural festivals are in favor of everyone - the municipality, the sponsors, the organizers and the audience. However, because of the problems mentioned in the article, the establishment of the regional economic effect of these events in Bulgaria is pointless. There is no point in spending municipal funds to prove the obvious fact that the cultural festival pours money into the regional economy and generates more positive than negative effects. It is possible that a detailed study of this problem can be won by companies that do so to justify spending of municipality’s resources. The municipalities should support cultural festivals by providing free terrain and buildings. All other costs should be borne by private sponsors and organizers.

Keywords: cultural festivals; local economic effect establishment; municipality. (search for similar items in EconPapers)
JEL-codes: A00 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:vra:pr1803:y:2018:i:1:p:461-467

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