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About the Measurement of the Regional Economic Effect of Cultural Festivals

Author

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  • Toni Kondzhov

    (Sofia University "St. Kliment Ohridski")

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.

Suggested Citation

  • Toni Kondzhov, 2018. "About the Measurement of the Regional Economic Effect of Cultural Festivals," Regional Economy and Sustainable Development, Conference Proceedings 2017, Research Institute, University of Economics - Varna, issue 1, pages 461-467, March.
    • Handle: RePEc:vra:pr1803:y:2018:i:1:p:461-467
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    More about this item

    Keywords

    cultural festivals; local economic effect establishment; municipality.;
    All these keywords.

    JEL classification:

    • A00 - General Economics and Teaching - - General - - - General

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