SAFEIC, the South African Festival Economic Impact Calculator, launched.
SAFEIC is an online tool to help festivals measure the impact their events have on the cultural and creative economy in South Africa.
This online calculator was developed by the South African Cultural Observatory (SACO) and hosted by Nelson Mandela Metropolitan University to create an empowering atmosphere amongst event organisers in South Africa.
It was meticulously designed and tested to construct reliable results for a wide range of festivals and events.
SAFEIC reports on 3 key elements of economic impact:
- Total spending on accommodation
- Total amount spent by organisers in the host economy
- The actual economic impact, including the multiplier effect on the host economy
This calculator is based on an American regional economic impact calculator for events and has been adapted for South Africa.
Capture the data
For SAFEIC to run properly, it requires accurate data input from the festival’s side.
Here are some of the information requirements:
- The number of days the festival or event is run over
- The population of the host city or town (obtainable from Stats SA)
- The total number of attendees
- The average visitor spend on accommodation per night (obtainable via visitor survey or data from SA Domestic Tourism)
- The average visitor spending on items other than accommodation (also obtainable from a survey or SA Domestic tourism)
- Funding or sponsorship received from outside the host town or city
- Earnings derived from tickets sales.
These economic impact studies shed light on the positive financial rewards of hosting cultural festivals and can help gain funding and get local residents on your side.
The training workshop will take place on 23 May 2017 at the Market Photo Workshop, 138 Lilian Ngoyi Street in Newtown, Johannesburg, and is free to all registered participants.
You can register for the SAFEIC online via the SACO website.
