EDINBURGH’S economy has lost out on an estimated boost of nearly £150 million because of the cancellation of its Winter Festivals.
Charities and community groups as well as businesses have suffered as a result, according to Edinburgh City Council leader Adam McVey.
He told the Sunday National that the cancellation of the long-established celebrations had left a huge hole in the city’s events programme and has had a “severe” financial impact on businesses and jobs across Edinburgh and Scotland as a whole, especially on top of all the other coronavirus cancellations.
“Alongside this is the detrimental impact to many good causes, local charities and community groups that the full Christmas and Hogmanay programme contributes to each year,” he said.
Winter Festivals organisers Underbelly are staging a digital programme to bring in 2021 which includes Scotland’s first “swarm drone show” but, although it is expected to be spectacular, it will not make up for the loss as the New Year events bring in £39m alone, according to the most recent figures.
“The pandemic has had a devastating impact on the events industry within Edinburgh, which has affected not just the producers and artists who flock here every year but the tourism sector and the entire supply chain which supports thousands of jobs and businesses,” said an Underbelly spokesperson.
“As Scotland enters tier 4 on Boxing Day, this year’s Hogmanay celebrations will be very different with the programme being delivered completely digitally for the first time.”
In terms of employment, the spokesperson said the calculated economic impact of the usual New Year celebrations equated to over 800 full-time jobs in Edinburgh.
Two-thirds of suppliers for the Winter Festivals are local and a number of charities and community groups benefit from donations gathered at some of the events and a cut from some ticket sales.
The overall value of the community benefit was £627,846 including discounts and free events, according to the latest figures.
Edinburgh City councillors have called for people to support businesses as soon as level 4 restrictions, which came into force yesterday, are lifted.
“For now, we’re asking people across Edinburgh, and indeed the world, to stay home, stay safe, enjoy an Edinburgh Hogmanay from the comfort of your living room,” said depute leader Councillor Cammy Day.
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