BERL’s Economic Survey has measured that the NZ International Arts Festival of 2012 contributed a whopping $56 Million to the Wellington City economy.
The 2012 Festival resulted in total expenditure in Wellington City of $56 million. That is a $17 million increase over the 2010 Festival.
This expenditure was spent across a range of industries including hotels, restaurants and retail and resulted in $28 million in GDP and employment of 362 Full Time Equivalents for one year, in Wellington City.
“The economic impact is good news for Wellington City as every dollar invested generates $29 in expenditure, which is a healthy return on its investment,” says Festival Executive Chair, Kerry Prendergast.
The Art Economy 