Ex-ante versus ex-post: comparison of the effects of the European Capital of Culture Maribor 2012 on tourism and employment

Andrej Srakar () and Marilena Vecco ()
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Marilena Vecco: Erasmus University Rotterdam

Journal of Cultural Economics, 2017, vol. 41, issue 2, No 6, 197-214

Abstract: Abstract The estimation of the economic effects of cultural events is a topic that has stirred numerous debates in cultural economics. Although economic impact studies and contingent valuation have been the most frequently used methods, both suffer from numerous problems. In this article, we use ex-post econometric verification as a new and promising method in cultural economics in the estimation of the economic effects of cultural events and apply it to the estimation of the effects of the 2012 European Capital of Culture Maribor on tourism and employment. This enables us to compare results from economic impact and ex-post econometric verification studies to find significant differences in particular in terms of new employment. We determine the net effects on new tourism and find that they were mainly present in Maribor, the holder of the project, and not in the other five partner cities. We conclude by reflecting on the state of the art of the studies of economic effects of cultural events in cultural economics and their relevance for the study of cultural tourism.

Keywords: Economic effects; Cultural tourism; Economic impact studies; Ex-post econometric verification; European Capital of Culture Maribor 2012; Employment (search for similar items in EconPapers)
JEL-codes: C33 D57 Z11 Z30 Z31 Z32 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (7)

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DOI: 10.1007/s10824-017-9294-0

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