Determination of the Economic Impact of the Light Up uMngeni (LUM) Festival

Description

Festivals and special events serve as important attractions for visitors as they provide unique experiences. These events also have the capability of providing both tangible and intangible benefits for communities. Most studies dealing with festivals and events have focused on either understanding attendees' behaviour or delineating the economic impact of visitation upon communities in which such events are held. However, little research has been conducted to examine the wholistic socio-economic importance and impact of festivals. Thus, the purpose of this study was to determine the economic impact of the Light Up uMngeni festival. The study was conducted at the Mandela capture site, where the festival took place between the 17 and 18 December 2022. The target population for this study were festival attendees, vendors, and sponsors. The participants were randomly selected to form part of the study. The findings of the study revealed that the festival adds tremendous benefits in terms of boosting the local economy and job creation. On average over 2.5 million rands in revenue was generated by the festival within 2 days. Furthermore, the fair created employment for over 100 people within the uMngeni municipality. The LUM festival does boost the local economy by contributing towards socio-economic growth and sustainability. The festival boosts local businesses and has a remarkable impact on social cohesion. The future of the LUM event is very bright as the majority of the attendees, stakeholders, and vendors revealed that they were most likely going to attend future events and even recommend it to friends and family members. Empirical evidence and statistics reveal that the LUM event did achieve its key strategic objectives.