Festival fever cheers economy to the tune of £1bn

The largest festival, Glastonbury, is worth nearly £100m to the economy

Festival-goers soak up the atmosphere at Glastonbury (Getty Images)

Music festivals have added £1bn to the economy over the last four years.

The Association of Independent Festivals (AIF) has revealed that 635,000 music fans have flocked to events hosted by its 50 members, with attendees generating £296m last year alone.

A survey of fans showed that almost half had decided to attend an independent festival – from Barn on the Farm in Gloucestershire, which draws 1,500, to the 75,000-capacity Isle of Wight Festival – instead of a summer holiday.

The BBC DJ Rob da Bank, AIF’s co-founder and founder of Bestival, said fans have sought out new and different festivals with a plethora of attractions.

The study showed that 58.2 per cent of fans cited “general atmosphere, overall vibe and character of event” as the most important factor in attending, while 8.3 per cent cited the attraction of headline acts.

The largest festival, Glastonbury, is worth nearly £100m to the economy.