The Economic Contribution Report was prepared for the Adelaide Festival Centre Trust for the purpose of evaluating the economic contribution the Centre makes to South Australia.
- The Adelaide Festival Centre Trust (AFCT) made a $76.3 million contribution to Gross Regional Product (GRP) in calendar year 2012, from direct and indirect economic activities generated through ticket sales, operating activities and tourism impacts from interstate and overseas visitors.
- The AFCT also contributed a further $45.4 million in quantifiable social factors, derived from contributions from volunteers and the estimated existence value of the Adelaide Festival Centr (AFC) as a major cultural centre for Greater Adelaide (the region).
- The activities of the AFCT in 2012 also resulted in the direct contribution of 466 jobs in the region, and a further 375 jobs in flow-on effects. The total contribution to employment during 2012, including direct and indirect effects was 841 jobs.
- Qualitatively, the AFCT also contributed to increased social capital and enhanced community connectivity. The AFCT encourages volunteering, social participation and reciprocity by providing a community site that individuals and groups view as a worthy cause. It provides opportunities for individuals and groups to volunteer and actively participate in day to day activities.
- AFCT also facilitates social inclusion and diversity through the range of festivals, event and programs. These festivals and programs encourage social behaviour, and promote diversity and inclusiveness of different cultures.
Economic Contribution Report