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2019 Economic Impact Report

By December 23, 2019 No Comments

The Porthleven Food Festival committee is delighted to share the results of a report indicating that the direct economic impact on the local area of the 2019 Porthleven Food Festival was over £2million.

The ‘economic impact’ of the Festival refers to the total amount of additional expenditure generated within a defined geographical area, as a direct consequence of staging the festival. Economic Impact studies typically seek to establish the net change in a host economy. The figure does not include money spent directly at the Festival.

Created using the widely accepted eventIMPACTS methodology and good practice principles for evaluating the Economic, Social, Environmental and Media related impacts associated with the festival, the report calculates that a total of £2,271,210 was spent by Festival attendees and spectators in the local economy. The figure represents an increase on the 2018 figures, even with lower visitor numbers; achieved because visitors are spending a longer period in the area before and after the event.

Chairman Alec Short said: “One of the main objectives of the Festival has always been to protect and stimulate the local economy. The event is held when it is to help mark the start of the season and we know from speaking to local businesses that they value the additional footfall and profile brought to Porthleven by the Festival, particular the food businesses. This report shows we are returning on this promise by encouraging visits and spending. The news that people are staying longer and therefore spending more is also fantastic to hear.”

Spending by visitors in the local area (and in particular on accommodation) is the biggest factor in generating economic impact; however, spending by the Food Festival event organisers of £147,048 is another important figure, supporting 86 jobs within the area.

The approach to defining visitor numbers is based on previous years’ data, traffic volumes, and a trader survey.

eventIMPACTS is the result of a collaboration between Department for Culture, Media and Sport, Discover Northern Ireland, EventScotland, London & Partners, UK Sport and Welsh Government.

Porthleven Food Festival cancelled for 2020

It is with heavy hearts that the organisers of Porthleven Food Festival must announce that our 2020 event, which was due to take place from 17-19 April, will be cancelled.

All ticketholders will be automatically refunded and all traders, acts, artists and speakers will be rebooked for the 2021 event.

The decision, which has not been taken lightly, has been made amidst the current situation with Coronavirus/ COVID-19 in the UK.

With less than five weeks to go any additional restrictions on the movement of people, or a nationwide ban on events being enacted in the coming weeks, would be financially catastrophic for our Festival. We therefore feel that we must cancel the event this year in order to guarantee its future survival.

The team has already put a great deal of time, resource and energy into organising and promoting this year’s event and this is not a decision we’ve made lightly.

We hope you understand and respect our difficult decision to act now, thus removing uncertainty, reducing the amount of outlay by our audiences, sponsors, traders, suppliers and partners and helping to secure the event in future years.