Economic spinoffs of 48.5 million dollars in 2017
MONTRÉAL, April 16, 2018 /CNW Telbec/ - On the eve of its 39th edition, presented from June 28 to July 7, 2018, by TD Bank Group in collaboration with Rio Tinto, the Festival International de Jazz de Montréal is delighted to unveil figures on the record-breaking economic benefits generated by its 2017 edition, according to recent data from KPGM. These encouraging results allow us to reaffirm the Festival's impressive ongoing contribution to our collective wealth.
The Festival International de Jazz de Montréal reached an all-time high in 2017, generating record economic spinoffs of 48.5 million dollars in added value for the Québec economy and $10.3M in tax revenue for the federal and provincial governments—a record explained by its tremendous performance in the tourism sector. In fact, in 2017, the Festival drew 30% more targeted tourists (whose main reason for travelling to Montréal was to attend the event) than in 2016, who increased spending in our economy. These two increases directly contribute to impressive growth in economic benefits.
In addition to economic spinoffs, it is important to remember that such special events as the 375th anniversary of Montréal and the 150th anniversary of Canada represented tremendous opportunities for our governments. Indeed, thanks to occasional subsidies, the Festival has been able to increase the scope of its programming and offer large-scale shows with tremendous tourist appeal. Not only did the population have the opportunity to enjoy unique and spectacular moments and experiences, but also, the entirety of Montréal and Québec enjoyed a heightened international profile thanks to the resulting media coverage.
"We are truly proud to once again witness how a festival offering a largely free program generates so much cultural, social, industrial, touristic and economic wealth for the entire society", stated Jacques-André Dupont, CEO of the Festival International de Jazz de Montréal.
"The Festival international de Jazz de Montréal is one of Montréal's flagship events, making a major contribution to the reputation and profile of the city. Its top-quality programming and unique urban entertainment enhance Montréal's reputation as a major cultural and tourism capital," said Yves Lalumière, CEO of Tourisme Montréal.
"These figures unequivocally demonstrate that, of all the Québec events that have produced economic impact studies using the same methodology, as published by the Ministère du Tourisme in May, 2016, the Festival International de Jazz de Montréal is the one generating the most wealth", said Martin Roy, CEO of Regroupement des événements majeurs internationaux (RÉMI), an association that recently piloted several similar studies with KPMG.
According to these results, the Festival International de Jazz de Montréal has now even surpassed the Grand Prix du Canada, which generated $42.4M in 2015. Furthermore, the Festival achieved this feat by continuing to offer a mainly free and outdoor program of international calibre, as it has since its inception. That model has contributed and continues to generate enormous collective wealth and build Montréal's reputation and renown around the world.
There's no doubt, the collective happiness, cultural vitality and sound economic health of our city go hand in hand! Now more than ever, the Festival is an essential cornerstone of the cultural, economic and tourism landscape of Montréal, today and for the years to come.
The 39th edition of the Festival International de Jazz de Montréal will be held from June 28 to July 7, 2018.
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