Study shows economic activity of Niagara’s Winter Festival of Lights is more than 40 times its price tag
From a press release seen on the Winter Festival of Lights web site:
A detailed study of the 2009 Winter Festival of Lights found that the 59-day Festival generated $57.3 million in economic benefits for the region, more than 40 times the event’s fiscal year expenditures of $1.3 million.
In its 42-page report, Toronto-based research firm Enigma Research Corp., concludes that the 2009 Festival received more than 1.3 million visits by 413,000 unique visitors. These visitors spent approximately $57.3 million in the region throughout the festival, including $11.6 million on hotels and accommodations. The Festival contributed $34.4 million to Niagara’s gross domestic product and supported the equivalent of 646 full-year jobs in the Niagara Region.
The report is based on 600 on-site surveys conducted between November 7, 2009, and January 4, 2010, at the Festival’s lighting displays, fireworks shows, events and entertainment venues.
