2022 – what’s next?

Well 2022 is almost over. This year I have worked in Abu Dhabi (physically) and online in the USA, Australia and France. I have completed an events portfolio assessment ( or program) for a local authority (also called a local council). They had little understanding of events and it was an ‘eye opener’ for them. An example is below, where I explain the simple economy of a public event. In plain speak, if they have 20,000 people at a festival and they spend on average $50 each at the event, then the event economy is a million dollars.
Name one business in the local area that turns over a million in one day?
Where does that money go?
Well, as a surprise to the local authority (council and Councillors) , it walks out the door via the vendors and suppliers.
In financial terms, all they have done by putting on their festival is stripped money from the locals.
Here is a simple diagram explaining it. Also if they don’t have events ( that was their first solution) then the locals go to festivals outside the region and spend that money.
The solution is simple: have lots of events and festivals and analyse the “spend”.

Leakage of money from the local area due to festivals and events
Leakage of money from the local area due to festivals and events

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