Identifier: TFG:2793
Authors: Fontova Benet, Aina
Abstract:
The current study analyses the economic importance of the music festivals’ sector. To achieve that, it is necessary to emphasize the historic evolution of this type of events until the present times, taking into account the influence of the international context, required to open the doors of this sector in our country. Next, an analysis of the current positive situation of the festivals’ industry in Spain and its attractiveness is shown (unstoppable rises of the number of events, attendance level and net revenue, once economic crisis of 2008 and increase in cultural VAT were over). Finally, an econometric model is presented in order to determine the factors that have caused this rise of the sector’s net income during the last three years and their differences in a regional level. Between the most relevant conclusions of our empiric analysis, we can highlight the attractiveness of the sector, in addition to the young population rate and the income per capita as key factors that determine the net income. According to the econometric forecast, an increase in the net income is expected in a long term. However, a slow drop is predicted until 2024, which can be strengthened owing to the Coronavirus crisis.
Repositori URV