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Economic impact of live music festivals in the Valencian Community

Project start date: 2023

Project end date: 2024

Funding institution: Institut Valencià de Cultura

The main objective of this study is to estimate the direct, indirect and induced economic impact of live music events on sales, GDP and employment in the Valencian Community.

Music concerts have an important economic impact because their celebration entails a series of expenses that significantly increase the demand of needed goods or services, which are usually supplied by local businesses, but also by companies in other parts of the region.

The study, which refers to events that have taken place during 2023, will measure the overall impacts in terms of output (sales), GVA, employment and by sector of activity. Thus, in addition to knowing the total impact of music events on the economy’s GDP (value added) and employment, results will be offered by sectors of activity in order to identify and quantify the sectors with the greatest impact.

Recommended citation

Pastor, J.M. (coord.), E. Benages, C. Albert and H. García (2024). «Informe del impacto económico de los eventos musicales en vivo en la Comunitat Valenciana 2023». In A. Llàcer (Ed. Dir.). Anuario 2024 de la música de la Comunitat Valenciana. València: Institut Valencià de Cultura (IVC): Federació Valenciana de la Indústria Musical (FEVIM): 20-103.

Chorén, P. (2024). «La música en clave». In A. Llàcer (Ed. Dir.). Anuario 2024 de la música de la Comunitat Valenciana. València: Institut Valencià de Cultura (IVC): Federació Valenciana de la Indústria Musical (FEVIM): 110-113.

Report