The economic impact of cultural events. A focus on professionals’ perceptions

Purpose of the paper: The purpose of this research is to explore the economic impact of a cultural event, Tocatì – International Festival of Street Games, that takes place each year in Verona (Italy). In particular, the perceptions of professionals operating in the hospitality and food service businesses about the economic impacts of the Festival are investigated. Methodology: The qualitative research is conducted through in-depth interviews with 14 professionals addressing the economic impacts of the Festival for their business and the city. The sample includes 7 hospitality businesses and 7 food service businesses. Main findings: Interviewees display an overall positive perception regarding the economic impacts of the Festival, both for their business and the city. A major difference however emerges between hospitality and food service businesses, since the large majority attending the Festival consists of residents or day-trippers, that do not stay in Verona overnight. Practical implications: Festival organizers should promote the participation to the Festival for more days, encouraging people to remain in Verona overnight. Professionals’ awareness about the Festival should also be improved. Originality/value: Differently from other impact studies, this research is based on the perceptions of professionals working in hospitality or food services businesses during the Festival, a topic that has generally been neglected by previous research.