Economic impact of a religious and tourist event

Abstract

Holy Week is one of the most important traditional celebrations in many parts of the world. It has a deep-rooted cultural and social tradition, yet also embraces a tourist dimension, which ultimately impacts on the economy of the places where it is held. The present work seeks to explore the impact of Holy Week on the city of Palencia (Spain). To do this, an economic impact study based on a description and evaluation of three types of effect, direct, indirect and induced, is carried out. Results show that this event generated a total of €2.258 million, of which 82% remained in the economy of the city itself, with the hotel and restaurant sectors benefitting the most. This traditional celebration thus contributes to creating revenue and employment, to maintaining traditional industries, to preserving cultural heritage and to enhancing the area’s image and projection.

Keywords

economic impact Holy Week input–output multipliers religion tourism

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