Edinburgh Fringe Festival 2024: Economic and Employment Boost for Hospitality Businesses
The Edinburgh Fringe Festival, the world’s largest arts festival, is just around the corner, bringing an unparalleled surge of economic and cultural activity to Scotland's capital. With its scale rivalling global events like the FIFA World Cup, the festival promises an influx of visitors and a significant boost to the local economy, particularly within the hospitality sector.
A Festival of Global Proportions
In 2022, the Edinburgh Fringe Festival saw an astounding 3.2 million attendances from approximately 700,000 attendees, placing it on par with the FIFA World Cup, which attracted 3.4 million attendees. This year, the festival continues to grow, with 67 countries represented on stage, including 17 country showcases. The proportion of staying visitors from outside Scotland increased from 25% in 2015 to 31% in 2022, highlighting the festival's international appeal.
Economic Impact
The economic benefits of the Edinburgh Fringe Festival are substantial. In 2022, the festival generated an economic impact of £407 million in Edinburgh alone, a significant increase from £280 million in 2015. Across Scotland, the impact rose from £313 million in 2015 to £367 million in 2022. Visitor spending also surged, reaching £137 million in 2022, with notable contributions to accommodation (£85 million) and food and drink (£42 million).
Employment Impact
The influx of visitors and increased spending naturally lead to a rise in job vacancies within the hospitality sector. In 2022, the Edinburgh Festivals supported approximately 7,150 full-time equivalent (FTE) jobs in Edinburgh and 8,500 FTE jobs across Scotland. This employment boost underscores the critical role the festival plays in supporting local businesses and providing job opportunities.
Expert Insight from Mick Hayes
Mick Hayes, at KPI Hospitality, highlights the positive impact of the festival on local businesses:
"The Edinburgh Fringe Festival is a phenomenal event that brings tremendous benefits to the local economy and hospitality industry. Businesses can expect a surge in customers, increased spending, and a bustling atmosphere that showcases Edinburgh at its best. To make the most of this opportunity, it’s crucial for businesses to be well-prepared with sufficient, high-quality staff to handle the influx of visitors and deliver exceptional service."
As a Scottish agency with a deep understanding of the local market, KPI Hospitality brings invaluable expertise to the table. Mick adds:
"Being a Scottish agency, we have a unique insight into the needs and expectations of the local hospitality sector. Our knowledge of the regional landscape allows us to provide tailored staffing solutions that perfectly align with the demands of the Edinburgh Fringe Festival. Whether you need full festival cover or just a one-off staffing solution, our trained team at KPI Hospitality is here to support and elevate your Fringe experience. Partnering with us ensures that you have reliable and efficient staff, allowing you to focus on providing the best service to your customers. Contact us today!"
📞 0141 7329522
✉️ MichaelH@kpihospitality.co.uk
Stay ahead of the game and make the most of the Edinburgh Fringe Festival with KPI Hospitality.
References
- [VisitScotland: Edinburgh Festivals Impact Study] (https://www.visitscotland.org/news/2023/edinburgh-festivals-impact-study)
- [EdFringe: A fresh, brave and energising Fringe 2023] (https://www.edfringe.com/learn/news-and-events/a-fresh-brave-and-energising-fringe-2023-comes-to-a-close-with-creativity-and-care-at-its-core)
- [Edinburgh Festival City: Impact Study] (www.edinburghfestivalcity.com/assets/old/Edinburgh_Festivals_Impact_Study__digital__original.pdf)
