Liam and Noel in Balloch: An Economic Impact Assessment

Abstract

This paper estimates the economic benefits that can accrue to a small local economy as the result of staging a major cultural event – a two-day rock festival starring the band Oasis. The paper shows that one-off events do bring economic benefits to the local area, but that they are short-lived, and enjoyed by a few rather than the community as a whole. An events strategy needs to be developed to enable the local business community to plan in advance to take full advantage of the commercial opportunities that such events bring.