BENIDORM has estimated that the Low Cost Festival held recently has had a €5.4 million economic impact for the town. Held during last weekend with 60,000 attendees, it has already been confirmed that next year there will be another similar event.
Councillor Hernandez said it has been estimated that festival goers have spent “off campus” (in the town away from venue sites) an average of €90 per day, bringing the positive economic impact for the city at 5.4 million €, to which she said must be added the beneficial national media attention. Benidorm has therefore more than recovered its €340,000 contribution, said Mayor Navarro. Meanwhile, the co-director of Festival said that this third edition of the event “has exceeded all expectations.” Attendance peaked at an estimated 21,000 on Saturday night.Benidorm contributes some 10 to 15 per cent of the Festival cost, and as 70 per cent of those attending come from outside the province, it is seen as money well invested to draw in money from other parts of the country.
Article by Paul Deed