Glastonbury festival Coursework Example | Topics and Well Written Essays - 1500 words

Glastonbury festival - Coursework Example That is a decent amount. Off-site, it grosses another  £ 26,470.23. That is truly the figure that is relevant for the town of Glastonbury. If the festival grosses a lot on-site, it might not cover the costs of the festival and be a net loss. But presumably, established businesses in the town make money per each new customer. Further, even if the festival made money on site, it would still not be helpful to the town per se but instead helpful to only a few people within it unless it led to people visiting off-site businesses and services. The point of the festival from the perspective of the town is to generate immediate revenue in terms of tourism then deferred revenue in terms of interest and later visits. What are the profits? â€Å"Estimated spending by Glastonbury Festivals associated with staging the 2007 festival was  £21.2million (over the period November 2006 to October 2007)† (Mendip, 2008). Subtracting the 21.2 million from the 52 million gross still leaves 30 million pounds made in one year. This is a tremendous amount of money for a town, for charity, and for businesses. The statistical breakdown for the attendance is also promising to indicate the benefit for tourism and exposure of Glastonbury culture. The visitor profile is more than three-quarters â€Å"other regions†, some of which will be out of England or the United Kingdoms. This means that the majority of the festival-goers are unlikely to regularly come to Glastonbury barring the festival. The rest come from all over England, Wales, Scotland and Ireland. Only twenty three percent come from the Southwest England area that Glastonbury is in. However, the statistics indicate that almost no one comes from abroad. This is a major problem. Glastonbury needs to make sure that it promotes internationally if it seeks to keep attendance and revenue growing. Recent events have guaranteed profit for the festival. â€Å"The future of Glastonbury festival was secured for five years