Economic Impact of Cultural Events: The Case of the Zora! Festival

In addition to their cultural and social values, cultural events have emerged as an instrument for tourism development, tourism seasonality expansion, city image improvement and boosting regional economies. By using a Social Accounting Matrix for Orange County, Florida, this study evaluates the economic impact of an event that highlights the folklore and cultural contribution of Zora Neale Hourston. Survey data from 1100 event participants were used to estimate the spending patterns of festival attendees. The two major contributions directly related to this study are (1) the use of a quantitative methodology that will put different policy options in perspective and (2) enabling researchers to study the impact of cultural events at three levels: direct, indirect and induced effects.