Festivals & Events in Ontario Drive $2.3 billion in GDP + 52,700 jobs + 1.1 billion in taxes generated

[Source: press release]

Festivals & Events Ontario (FEO) released new research Study information confirming the importance of festivals/events to the Ontario economy in terms of this industry”s ability to contribute to regional GDP, create jobs and generate taxes at all levels of government.

Ontario festivals/events are estimated to annually drive $2.3 billion in contribution to regional GDP, support 52,700 full-year job equivalents (FYJE) and generate $1.1 billion in taxes.

The Study was conducted by a partnership of FEO, the Ontario Trillium Foundation and Enigma Research. It provided detailed information on a sample of 48 of the Province”s approximately 1,750 smaller-budget festivals/events (Note: these < $250K budget level celebrations represent over 85% of the overall industry). Collectively, this “small budget” sector generated $1 billion in GDP, a number that compares quite favorably to the additional GDP collectively generated by the approximately 30 Ontario festivals & events that operate at the $1 million+ budget level.

Data from this Study was integrated with secondary research on the impact of mid-sized and large-budget events that was previously conducted by Enigma to arrive at the first such Ontario-wide estimate confirming the aggregate economic impact of festivals and events operating at all budgetary levels.