The Croatian government decided on Friday to financially support the Ultra Europe electronic music festival in Split until 2022 because of its positive multiplier effects on the national economy and promotion of Croatia as a tourist destination. Since 2013, when it was first held in Croatia, the festival has brought numerous benefits to Split, the tourist industry and the state budget, as shown by a study which the Tourism Ministry commissioned from the Institute of Public Finance, Tourism Minister Gari Cappelli said at a cabinet meeting in Split.
According to the study, last year the festival generated a turnover of HRK 525.3 million, the bulk of which, or HRK 447.6 million, came from spending by foreign visitors. Festival tickets accounted for the largest proportion in total spending, of 31%, followed by accommodation (24%), food and drinks (19%), and transport (11%).
"The marketing value of the festival is estimated at at least 25 million euros," Cappelli said, adding that the festival's contribution to the national GDP was roughly the same as that of two or three significant tourism investment projects. (Hina/FaH)
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