Measuring the Impact of a Profit-Oriented Event on Tourism: The Eurochocolate Festival in Perugia, Italy

Abstract

This paper contributes to the development of a relatively homogeneous, standardized methodology for the measurement of the impact of festivals and events on tourism. Such a methodology will be of benefit when private and public policy makers carry out comparative analyses to determine whether or not to support an event. The study assesses whether the Eurochocolate festival, held every October in Perugia, Italy, contributes to the development of local tourism, thereby enhancing economic growth in the city. A trend analysis was undertaken, based on data relating to arrivals and presences over a period of several years, the application of a statistical regression model dealing with arrivals, and the results of a visitor survey. The authors conclude that, while the event is privately owned with most profits going to the organizing firm, it also generates considerable benefits for the local economy. It brings almost 8,000 additional national tourist arrivals in the city, as well as 66,000 day-trippers from outside the Umbria region.