Glastonbury’s festival economics signals hope for entrepreneurial spirit

Festivals and events come in all different shapes and sizes; from the humble local food and drink market to global mega-events such as the Olympics or Euro 2016. There are also the inbetweeners: the “hallmark” events, usually in the same place, at the same time, with the same theme and the same size. Think the tennis at Wimbledon or the long weekend of music and mayhem at Glastonbury. All these events have rather differing social, economic and ecological impacts. Events of days gone by often saw quite humble levels of commercial consumption, activity and sociological importance. You did, however, get landmark occasions – such as the 1851 Great Exhibition at Crystal Palace in London – which were used to show off a nation’s tech advancements, and played a key role in connecting global societies before the advent of international communications and accessible travel. Now, though, this thirst for economic importance and a longer-term legacy has become a “must-have” for most festival events from the smallest to the biggest. Festivals are a useful part of regional and national policy for governments wishing to develop urban and rural economies....................