Anatomy of the economic value generated by a cultural event
The article measures the economic effects of decisions made by two agents in the cultural and creative sector. Managers of a cultural event decide to produce it: it mobilizes a flow of artists and creatives who materialize their creations. Individuals decide to visit it: it mobilizes a flow of indiv...
- Autores:
-
Garizado Román, Paola Andrea
Aguado, Luis F.
Heredia-Carroza, Jesús
Espinosa-Espinosa, Aaron
Duque-Sandoval, Henry
- Tipo de recurso:
- Article of investigation
- Fecha de publicación:
- 2024
- Institución:
- Universidad Autónoma de Occidente
- Repositorio:
- RED: Repositorio Educativo Digital UAO
- Idioma:
- eng
- OAI Identifier:
- oai:red.uao.edu.co:10614/16200
- Acceso en línea:
- https://hdl.handle.net/10614/16200
https://doi.org/10.3846/jbem.2024.22066
https://red.uao.edu.co/
- Palabra clave:
- Cultural events
Cultural sector
Cultural value
Economic value
Input–output analysis
Petronio Álvarez Pa-cific Music Festival
Eventos culturales
Sector cultural
Valor cultural
Valor económico
Análisis insumo-producto
Festival de Música del Pacífico Petronio Álvarez
- Rights
- openAccess
- License
- Derechos reservados - Vilnius Gediminas Technical University, 2024
| id |
REPOUAO2_d5658ab7bb4b397525d7ece9746d1c78 |
|---|---|
| oai_identifier_str |
oai:red.uao.edu.co:10614/16200 |
| network_acronym_str |
REPOUAO2 |
| network_name_str |
RED: Repositorio Educativo Digital UAO |
| repository_id_str |
|
| dc.title.eng.fl_str_mv |
Anatomy of the economic value generated by a cultural event |
| dc.title.alternative.spa.fl_str_mv |
Anatomía del valor económico generado por un evento cultural |
| title |
Anatomy of the economic value generated by a cultural event |
| spellingShingle |
Anatomy of the economic value generated by a cultural event Cultural events Cultural sector Cultural value Economic value Input–output analysis Petronio Álvarez Pa-cific Music Festival Eventos culturales Sector cultural Valor cultural Valor económico Análisis insumo-producto Festival de Música del Pacífico Petronio Álvarez |
| title_short |
Anatomy of the economic value generated by a cultural event |
| title_full |
Anatomy of the economic value generated by a cultural event |
| title_fullStr |
Anatomy of the economic value generated by a cultural event |
| title_full_unstemmed |
Anatomy of the economic value generated by a cultural event |
| title_sort |
Anatomy of the economic value generated by a cultural event |
| dc.creator.fl_str_mv |
Garizado Román, Paola Andrea Aguado, Luis F. Heredia-Carroza, Jesús Espinosa-Espinosa, Aaron Duque-Sandoval, Henry |
| dc.contributor.author.none.fl_str_mv |
Garizado Román, Paola Andrea Aguado, Luis F. Heredia-Carroza, Jesús Espinosa-Espinosa, Aaron Duque-Sandoval, Henry |
| dc.subject.proposal.eng.fl_str_mv |
Cultural events Cultural sector Cultural value Economic value Input–output analysis Petronio Álvarez Pa-cific Music Festival |
| topic |
Cultural events Cultural sector Cultural value Economic value Input–output analysis Petronio Álvarez Pa-cific Music Festival Eventos culturales Sector cultural Valor cultural Valor económico Análisis insumo-producto Festival de Música del Pacífico Petronio Álvarez |
| dc.subject.proposal.spa.fl_str_mv |
Eventos culturales Sector cultural Valor cultural Valor económico Análisis insumo-producto Festival de Música del Pacífico Petronio Álvarez |
| description |
The article measures the economic effects of decisions made by two agents in the cultural and creative sector. Managers of a cultural event decide to produce it: it mobilizes a flow of artists and creatives who materialize their creations. Individuals decide to visit it: it mobilizes a flow of individuals who produce experiences by attending the event. The result is revealed by the economic dimension of the value generated by a cultural event: new income and jobs for the host territory of the event and unique and authentic cultural experiences for those attending the event. The empirical literature has drawn attention to the need for more precise measures of economic value, in particular that do not overestimate. A combination of instruments is used: interviews (n = 6) with event managers/organizers; a face-to-face survey (n = 173) with representatives of commercial stalls; a face-to-face survey of attendees (n = 1,030); and, an input–output model is adapted to the area of impact. The article provides a methodologically useful framework for identifying and estimating more reliable measures of the material (economic) value created by a cultural event, which can be replicated in a variety of events around the world |
| publishDate |
2024 |
| dc.date.issued.none.fl_str_mv |
2024 |
| dc.date.accessioned.none.fl_str_mv |
2025-07-04T15:10:35Z |
| dc.date.available.none.fl_str_mv |
2025-07-04T15:10:35Z |
| dc.type.spa.fl_str_mv |
Artículo de revista |
| dc.type.coarversion.fl_str_mv |
http://purl.org/coar/version/c_970fb48d4fbd8a85 |
| dc.type.coar.eng.fl_str_mv |
http://purl.org/coar/resource_type/c_2df8fbb1 |
| dc.type.content.eng.fl_str_mv |
Text |
| dc.type.driver.eng.fl_str_mv |
info:eu-repo/semantics/article |
| dc.type.redcol.eng.fl_str_mv |
http://purl.org/redcol/resource_type/ART |
| dc.type.version.eng.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
| format |
http://purl.org/coar/resource_type/c_2df8fbb1 |
| status_str |
publishedVersion |
| dc.identifier.citation.eng.fl_str_mv |
Garizado-Román, P. A.; Aguado, L. F.; Heredia-Carroza, J.; Espinosa-Espinosa, A. y Duque-Sandoval, H. (2024). Anatomy of the economic value generated by a cultural event. Journal of Business Economics and Management, 25(4), 828–848. https://doi.org/10.3846/jbem.2024.22066 |
| dc.identifier.issn.spa.fl_str_mv |
16111699 |
| dc.identifier.uri.none.fl_str_mv |
https://hdl.handle.net/10614/16200 |
| dc.identifier.doi.spa.fl_str_mv |
https://doi.org/10.3846/jbem.2024.22066 |
| dc.identifier.eissn.spa.fl_str_mv |
20294433 |
| dc.identifier.instname.spa.fl_str_mv |
Universidad Autónoma de Occidente |
| dc.identifier.reponame.spa.fl_str_mv |
Respositorio Educativo Digital UAO |
| dc.identifier.repourl.none.fl_str_mv |
https://red.uao.edu.co/ |
| identifier_str_mv |
Garizado-Román, P. A.; Aguado, L. F.; Heredia-Carroza, J.; Espinosa-Espinosa, A. y Duque-Sandoval, H. (2024). Anatomy of the economic value generated by a cultural event. Journal of Business Economics and Management, 25(4), 828–848. https://doi.org/10.3846/jbem.2024.22066 16111699 20294433 Universidad Autónoma de Occidente Respositorio Educativo Digital UAO |
| url |
https://hdl.handle.net/10614/16200 https://doi.org/10.3846/jbem.2024.22066 https://red.uao.edu.co/ |
| dc.language.iso.eng.fl_str_mv |
eng |
| language |
eng |
| dc.relation.citationendpage.spa.fl_str_mv |
848 |
| dc.relation.citationissue.spa.fl_str_mv |
4 |
| dc.relation.citationstartpage.spa.fl_str_mv |
828 |
| dc.relation.citationvolume.spa.fl_str_mv |
25 |
| dc.relation.ispartofjournal.eng.fl_str_mv |
Journal of Business Economics and Management |
| dc.relation.references.none.fl_str_mv |
Aguado, L., Arbona., A., Palma, L. & Heredia-Carroza, J. (2021). How to value a cultural festival? The case of Petronio Álvarez Pacific Music Festival in Colombia. Development Studies Research, 8(1), 309–316. https://doi.org/10.1080/21665095.2021.1979417 Alonso-Vazquez, M., Packer, J., Fairley, S. & Hughes, K. (2019). The role of place attachment and festival attachment in influencing attendees’ environmentally responsible behaviours at music festivals. Tourism Recreation Research, 44(1), 91–102. https://doi.org/10.1080/02508281.2018.1545393 Angelini, F., & Castellani, M. (2019). Cultural and economic value: A critical review. Journal of Cultural Economics, 43, 173–188. https://doi.org/10.1007/s10824-018-9334-4 Ateca-Amestoy, V. (2020). Participation, in R. Towse & T. Navarrete Hernández (Eds.), A handbook of cultural economics (pp. 399–407). Edward Elgar Publishing. https://doi.org/10.4337/9781788975803.00050 Belfiore, E. (2020), Whose cultural value? Representation, power and creative industries. International Journal of Cultural Policy, 26(3), 383–397. https://doi.org/10.1080/10286632.2018.1495713 Bethlehem, J. (2009). Applied survey methods: A statistical perspective (chapter 4). Wiley. https://doi.org/10.1002/9780470494998 Boyd, S. (2020). Cultural and heritage tourism in contemporary cities. In A. M. Morrison & J. A. Coca- Stefaniak (Eds.), Routledge handbook of tourism cities. Routledge. https://doi.org/10.4324/9780429244605-18 Brito, P. & Barros, C. (2005). Learning-by-consuming and the dynamics of the demand and prices of cultural goods. Journal of Cultural Economics, 29, 83–106. https://doi.org/10.1007/s10824-005-1748-0 Caves, R. (2000), Creative industries. Contracts between art and commerce. Harvard University Press. Cerisola, S., & Panzera, E. (2021) Cultural and creative cities and regional economic efficiency: Context conditions as catalyzers of cultural vibrancy and creative economy. Sustainability, 13, Article 7150. https://doi.org/10.3390/su13137150 Crompton, J. (2020). Uses and abuses of IMPLAN in economic impact studies of tourism events and facilities in the United States: A perspective article. Tourism Review, 75(1), 187–190. https://doi.org/10.1108/TR-05-2019-0159 Crompton, J., Lee, S., & Shuster, T. (2001), A guide for undertaking economic impact studies: The Springfest example. Journal of Travel Research, 40(1), 79–87. https://doi.org/10.1177/004728750104000110 Cudny, W. (2016). The concept, origins and types of festivals. In Festivalisation of urban spaces (pp. 11–42). Springer. https://doi.org/10.1007/978-3-319-31997-1_6 Davies, L., Coleman, R., & Ramchandani, G. (2013). Evaluating event economic impact: Rigour versus reality? International Journal of Event and Festival Management, 4(1), 31–42. https://doi.org/10.1108/17582951311307494 De-Miguel-Molina, B., & Boix-Doménech, R. (2021), Introduction: Music, from intangible cultural heritage to the music industry. In B. De-Miguel-Molina, V. Santamarina-Campos, M. De-Miguel-Molina, & R. Boix-Doménech (Eds.), Music as intangible cultural heritage. Economic, Cultural and Social Identity. Springer Briefs in Economics (pp. 3–8). Springer. https://doi.org/10.1007/978-3-030-76882-9_1 Deepanjan, S., & Sen, J. (2023). Characterizing the geography of artisanal production: Case of handloom industry in Varanasi, India. Creative Industries Journal. Devesa, M., & Roitvan, A. (2022). Beyond economic impact. The cultural and social effects of arts festivals. In E. Salvador & J. Strandgaard Pedersen (Eds.), Managing cultural festivals: Tradition and innovation in Europe (pp. 189–209). Routledge. https://doi.org/10.4324/9781003127185-14 Dimitrovski, D., Leković, M., & Đurađević, M. (2023). The issue of methodological rigour within the data collection process in tourism and sports studies investigating the economic impact of sporting events. Current Issues in Tourism, 26(14), 2389–2404. https://doi.org/10.1080/13683500.2022.2086452 European Commission, Directorate-General for Education, Youth, Sport and Culture, Hoelck, K., Engin, E., & Airaghi, E. (2017). Mapping the creative value chains. A study on the economy of culture in the digital age: Final report. Publications Office. https://data.europa.eu/doi/10.2766/868748 Fernandez, E., Hewings, G., & Ramos, C. (2015). Adjustment of input–output tables from two initial matrices. Economic Systems Research, 27(3), 345–361. https://doi.org/10.1080/09535314.2015.1007839 Garcia, M., & Judd, D. (2012). Competitive cities. In P. John, K. Mossberger, & S. E. Clarke (Eds.), The Oxford handbook of urban politics. Oxford Academic. https://doi.org/10.1093/oxfordhb/9780195367867.013.0024 Getz, D., & Page, S. (2019). Event studies: Theory, research and policy for planned events (4th ed.). Routledge. https://doi.org/10.4324/9780429023002 Greffe, X. (2010). Introduction: L’économie de la culture est–elle particulière? Revue d’économie politique, 120(1), 1–34. https://doi.org/10.3917/redp.201.0001 Hewings, G. (2020). Regional input–output analysis. Web Book of Regional Science. Regional Research Institute, West Virginia University. Hewings, G. & Fernández, E. (2019). Entropy maximization and input–output analysis. Interdisciplinary Science Reviews, 44(3–4), 272–285. https://doi.org/10.1080/03080188.2019.1670429 Higgs, P., Cunningham, S., & Pagan, J. (2007). Australia’s creative economy: Basic evidence on size, growth, income and employment (Technical Report). Faculty Research Office, ARC Centre of Excellence for Creative Industries & Innovation (CCI). Holý, V., & Šafr, K. (2023) Disaggregating input–output tables by the multidimensional RAS method: A case study of the Czech Republic. Economic Systems Research 35(1), 95–117. https://doi.org/10.1080/09535314.2022.2091978 Hutter, M., & Frey, B. (2010). On the influence of cultural value on economic value. Revue d’économie politique, 120(1), 35–46. https://doi.org/10.3917/redp.201.0035 Klamer, A., Petrova, L., & Eva Kiss, D. (2022). Cultural value of a festival: The quality evaluator for assessing impact. In E. Salvador & J. Strandgaard Pedersen (Eds.), Managing cultural festivals: Tradition and innovation in Europe (pp. 210–231). Routledge. https://doi.org/10.4324/9781003127185-15 Kulenovic, J., & Cech, A. (2015). Six case studies of economically successful cities: Competitive cities for jobs and growth. World Bank. http://hdl.handle.net/10986/23573 Lévy-Garboua, L., & Montmarquette, C. (2011). Demand. In R. Towse (Ed.), Handbook of cultural economics (2d ed., Chapter 26, pp. 177–186). Edward Elgar Publishing. https://doi.org/10.4337/9780857930576.00032 Mahajan, S. (Ed.) (2018). Handbook on supply and use tables and input–output tables with extensions and applications. United Nations. Matarasso, F. (1997). Use or Ornament? The social impact of participation in the arts. Comedia. McCain, R. (1979). Reflections on the cultivation of taste. Journal of Cultural Economics, 3(1), 30–52. https://doi.org/10.1007/BF00167321 McCarthy, K., Ondaatje, E., Zakaras, L., & Brooks, A. (2004). Gifts of the muse: Reframing the debate about the benefits of the arts. Rand Corporation, Santa Monica, United States. https://doi.org/10.7249/MG218 Meeprom, S., & Fakfare, P. (2021). Unpacking the role of self-congruence, attendee engagement and emotional attachment in cultural events. International Journal of Event and Festival Management, 12(4), 399–417. https://doi.org/10.1108/IJEFM-02-2021-0018 Miernyk, W. H. (2020). Regional and interregional input–output analysis. The elements of input–output analysis. Web Book of Regional Science. Regional Research Institute, West Virginia University. Miller, R., & Blair, P. (2022). Input–output analysis: Foundations and extensions (3rd ed.). Cambridge University Press. https://doi.org/10.1017/9781108676212 Moggridge, D. (Ed.) (1982). The collected writings of John Maynard Keynes. Vol. XXVIII: Social, political and literary writings (Chapter 3, pp. 341–349). The Macmillan Press. Organization for Economic Co-operation and Development. (2005). Culture and local development. OECD Publishing. Organization for Economic Co-operation and Development. (2023a). How to measure the impact of culture, sports and business events: A guide, Part I, No 2023/10 (OECD Local Economic and Employment Development (LEED) Papers). OECD Publishing. Organization for Economic Co-operation and Development. (2023b). Impact indicators for culture, sports and business events: A guide – Part II, No 2023/11 (OECD Local Economic and Employment Development (LEED) Papers). OECD Publishing. Palma, M., Palma, L., & Aguado, L. (2013). Determinants of cultural and popular celebration attendance: The case study of Seville Spring Fiestas. Journal of Cultural Economics, 37(1), 87–107. https://doi.org/10.1007/s10824-012-9167-5 Partal, A., & Dunphy, K. (2016), Cultural impact assessment: A systematic literature review of current methods and practice around the world. Impact Assessment and Project Appraisal, 34(1), 1–13. https://doi.org/10.1080/14615517.2015.1077600 Pereira, F., Amaral e Silva, M., & Martins de Brito, D. (2023). The economic contribution of the cultural sector in Brazil: an input–output approach with different income groups. Creative Industries Journal. https://doi.org/10.1080/17510694.2023.2203397 Pereira, L., Jerónimo, C., Sempiterno, M., Lopes da Costa, R., Dias, Á., & António, N. (2021). Events and festivals contribution for local sustainability. Sustainability, 13(3), Article 1520. https://doi.org/10.3390/su13031520 Petrova, L., Graça, S., & Klamer, A. (2022). Evaluating qualities of cultural production: a value-based approach. Media Practice and Education, 23(2), 112–125. https://doi.org/10.1080/25741136.2022.2056793 ten Raa, T. (2009). The economics of input–output analysis. Cambridge University Press. https://doi.org/10.1017/CBO9780511610783 Rodrigues-Ferreira, A., Afonso, H., Mello, J. A., & Amaral, R. (2023). Creative economy and the quintuple helix innovation model: A critical factors study in the context of regional development. Creativity Studies, 16(1), 158–177. https://doi.org/10.3846/cs.2023.15709 SACO. (2016). National arts festival. Monitoring and evaluation: Key development indicator report on a DAC intervention. South African Cultural Observatory, SACO, Department of Arts and Culture, Republic of South Africa, Port Elizabeth, Republic of South Africa. SACO. (2019). An input–output model for the cultural and creative industries in South Africa and possible extension. South African Cultural Observatory, SACO, Department of Arts and Culture, Republic of South Africa, Port Elizabeth, Republic of South Africa. Santamarina, B. (2023). The global competition of the intangible. UNESCO as a Producer of Heritage Brands, Heritage & Society. https://doi.org/10.1080/2159032X.2023.2226572 Seaman, B. (2006). Empirical studies of demand for the performing arts. In V. Ginsburgh & D. Throsby (Eds.), Handbook of the economics of art and culture (Vol. 1, pp. 15–472). Elsevier. https://doi.org/10.1016/S1574-0676(06)01014-3 Seaman, B. (2020). Economic impact of the arts. In R. Towse & T. Navarrete Hernández (Eds.), A handbook of cultural economics (pp. 241–253). Edward Elgar Publishing. https://doi.org/10.4337/9781788975803.00033 Snowball, J. (2008). Measuring the value of culture. Methods and examples in cultural economics. Springer Verlag. Snowball, J. (2020). Cultural value. In R. Towse & T. Navarrete Hernández (Eds.), A handbook of cultural economics (pp. 206–215). Edward Elgar Publishing. https://doi.org/10.4337/9781788975803.00029 Stigler, G., & Becker, G. (1977). De gustibus non est disputandum. American Economic Review, 67(2), 76–90. Sung, H. (2014). UNESCO framework for cultural indicators. In A. C. Michalos (Ed.), Encyclopedia of quality of life and well–being research. Springer. https://doi.org/10.1007/978-94-007-0753-5_3079 Throsby, D. (2003). Determining the value of cultural goods: How much (or how little) does contingent valuation tell us? Journal of Cultural Economics, 27, 275–285. https://doi.org/10.1023/A:1026353905772 Throsby, D. (2020). Cultural statistics, in R. Towse & T. Navarrete Hernández (Eds.), A handbook of cultural economics (pp. 197–215). Edward Elgar Publishing. https://doi.org/10.4337/9781788975803.00028 UNESCO, & World Bank. (2021). Cities, culture, creativity: Leveraging culture and creativity for sustainable urban development and inclusive growth. UNESCO. (2015). Festival statistics: Key concepts and current practices. UNESCO. (2022). Reshaping policies for creativity: Addressing culture as a global public good. UNESCO. (2009). The 2009 UNESCO framework for cultural statistics (FCS). United Nations. (2000). Recommendations on tourism statistics. Statistical Papers, Series M, 83. United Nations Publication Series M No. 83 (Rev–1.0). Van der Hoeven, A., Behr, A., Hamilton, C., Mulder, M., & Rozbicka, P. (2021). 1–2–3–4! Measuring the values of live music: Methods, models and motivations. Arts and the Market, 11(2), 147–166. https://doi.org/10.1108/AAM-09-2020-0041 |
| dc.rights.eng.fl_str_mv |
Derechos reservados - Vilnius Gediminas Technical University, 2024 |
| dc.rights.coar.fl_str_mv |
http://purl.org/coar/access_right/c_abf2 |
| dc.rights.uri.eng.fl_str_mv |
https://creativecommons.org/licenses/by-nc-nd/4.0/ |
| dc.rights.accessrights.eng.fl_str_mv |
info:eu-repo/semantics/openAccess |
| dc.rights.creativecommons.spa.fl_str_mv |
Atribución-NoComercial-SinDerivadas 4.0 Internacional (CC BY-NC-ND 4.0) |
| rights_invalid_str_mv |
Derechos reservados - Vilnius Gediminas Technical University, 2024 https://creativecommons.org/licenses/by-nc-nd/4.0/ Atribución-NoComercial-SinDerivadas 4.0 Internacional (CC BY-NC-ND 4.0) http://purl.org/coar/access_right/c_abf2 |
| eu_rights_str_mv |
openAccess |
| dc.format.extent.spa.fl_str_mv |
21 páginas |
| dc.format.mimetype.none.fl_str_mv |
application/pdf |
| dc.publisher.eng.fl_str_mv |
Vilnius Gediminas Technical University |
| dc.publisher.place.spa.fl_str_mv |
Lituania |
| institution |
Universidad Autónoma de Occidente |
| bitstream.url.fl_str_mv |
https://red.uao.edu.co/bitstreams/7fd85e25-4dcb-4cc1-8820-178ec2021659/download https://red.uao.edu.co/bitstreams/aabbd389-4bc0-4de3-9bf5-c55b675f0dac/download https://red.uao.edu.co/bitstreams/5025c967-7fdc-4df2-9029-506bf7eb3df5/download https://red.uao.edu.co/bitstreams/fc9e69f0-e7a2-4a9b-a587-b8ed0189caa7/download |
| bitstream.checksum.fl_str_mv |
347c9ad8f8b617612b2626f66ff900c2 6987b791264a2b5525252450f99b10d1 ea97e58ebcbb064483d24d271f9d2d8c df403525def2371178b93be0264d27e6 |
| bitstream.checksumAlgorithm.fl_str_mv |
MD5 MD5 MD5 MD5 |
| repository.name.fl_str_mv |
Repositorio Digital Universidad Autonoma de Occidente |
| repository.mail.fl_str_mv |
repositorio@uao.edu.co |
| _version_ |
1851053360620240896 |
| spelling |
Garizado Román, Paola Andreavirtual::6079-1Aguado, Luis F.Heredia-Carroza, JesúsEspinosa-Espinosa, AaronDuque-Sandoval, Henry2025-07-04T15:10:35Z2025-07-04T15:10:35Z2024Garizado-Román, P. A.; Aguado, L. F.; Heredia-Carroza, J.; Espinosa-Espinosa, A. y Duque-Sandoval, H. (2024). Anatomy of the economic value generated by a cultural event. Journal of Business Economics and Management, 25(4), 828–848. https://doi.org/10.3846/jbem.2024.2206616111699https://hdl.handle.net/10614/16200https://doi.org/10.3846/jbem.2024.2206620294433Universidad Autónoma de OccidenteRespositorio Educativo Digital UAOhttps://red.uao.edu.co/The article measures the economic effects of decisions made by two agents in the cultural and creative sector. Managers of a cultural event decide to produce it: it mobilizes a flow of artists and creatives who materialize their creations. Individuals decide to visit it: it mobilizes a flow of individuals who produce experiences by attending the event. The result is revealed by the economic dimension of the value generated by a cultural event: new income and jobs for the host territory of the event and unique and authentic cultural experiences for those attending the event. The empirical literature has drawn attention to the need for more precise measures of economic value, in particular that do not overestimate. A combination of instruments is used: interviews (n = 6) with event managers/organizers; a face-to-face survey (n = 173) with representatives of commercial stalls; a face-to-face survey of attendees (n = 1,030); and, an input–output model is adapted to the area of impact. The article provides a methodologically useful framework for identifying and estimating more reliable measures of the material (economic) value created by a cultural event, which can be replicated in a variety of events around the worldEl artículo mide los efectos económicos de las decisiones tomadas por dos agentes en el sector cultural y creativo. Los gestores de un evento cultural deciden producirlo: moviliza un flujo de artistas y creativos que materializan sus creaciones. Los individuos deciden visitarlo: moviliza un flujo de individuos que producen experiencias al asistir al evento. El resultado se revela por la dimensión económica del valor generado por un evento cultural: nuevos ingresos y empleos para el territorio anfitrión del evento y experiencias culturales únicas y auténticas para los asistentes al evento. La literatura empírica ha llamado la atención sobre la necesidad de medidas más precisas del valor económico, en particular que no sobrestimen. Se utiliza una combinación de instrumentos: entrevistas (n = 6) con gestores/organizadores de eventos; una encuesta presencial (n = 173) con representantes de puestos comerciales; una encuesta presencial a asistentes (n = 1.030); y, un modelo de insumo-producto se adapta al área de impacto. El artículo proporciona un marco metodológicamente útil para identificar y estimar medidas más confiables del valor material (económico) creado por un evento cultural, que puede replicarse en una variedad de eventos alrededor del mundo21 páginasapplication/pdfengVilnius Gediminas Technical UniversityLituaniaDerechos reservados - Vilnius Gediminas Technical University, 2024 https://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessAtribución-NoComercial-SinDerivadas 4.0 Internacional (CC BY-NC-ND 4.0)http://purl.org/coar/access_right/c_abf2Anatomy of the economic value generated by a cultural eventAnatomía del valor económico generado por un evento culturalArtículo de revistahttp://purl.org/coar/resource_type/c_2df8fbb1Textinfo:eu-repo/semantics/articlehttp://purl.org/redcol/resource_type/ARTinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/version/c_970fb48d4fbd8a85848482825Journal of Business Economics and ManagementAguado, L., Arbona., A., Palma, L. & Heredia-Carroza, J. (2021). How to value a cultural festival? The case of Petronio Álvarez Pacific Music Festival in Colombia. Development Studies Research, 8(1), 309–316. https://doi.org/10.1080/21665095.2021.1979417 Alonso-Vazquez, M., Packer, J., Fairley, S. & Hughes, K. (2019). The role of place attachment and festival attachment in influencing attendees’ environmentally responsible behaviours at music festivals. Tourism Recreation Research, 44(1), 91–102. https://doi.org/10.1080/02508281.2018.1545393 Angelini, F., & Castellani, M. (2019). Cultural and economic value: A critical review. Journal of Cultural Economics, 43, 173–188. https://doi.org/10.1007/s10824-018-9334-4 Ateca-Amestoy, V. (2020). Participation, in R. Towse & T. Navarrete Hernández (Eds.), A handbook of cultural economics (pp. 399–407). Edward Elgar Publishing. https://doi.org/10.4337/9781788975803.00050 Belfiore, E. (2020), Whose cultural value? Representation, power and creative industries. International Journal of Cultural Policy, 26(3), 383–397. https://doi.org/10.1080/10286632.2018.1495713 Bethlehem, J. (2009). Applied survey methods: A statistical perspective (chapter 4). Wiley. https://doi.org/10.1002/9780470494998 Boyd, S. (2020). Cultural and heritage tourism in contemporary cities. In A. M. Morrison & J. A. Coca- Stefaniak (Eds.), Routledge handbook of tourism cities. Routledge. https://doi.org/10.4324/9780429244605-18 Brito, P. & Barros, C. (2005). Learning-by-consuming and the dynamics of the demand and prices of cultural goods. Journal of Cultural Economics, 29, 83–106. https://doi.org/10.1007/s10824-005-1748-0 Caves, R. (2000), Creative industries. Contracts between art and commerce. Harvard University Press. Cerisola, S., & Panzera, E. (2021) Cultural and creative cities and regional economic efficiency: Context conditions as catalyzers of cultural vibrancy and creative economy. Sustainability, 13, Article 7150. https://doi.org/10.3390/su13137150 Crompton, J. (2020). Uses and abuses of IMPLAN in economic impact studies of tourism events and facilities in the United States: A perspective article. Tourism Review, 75(1), 187–190. https://doi.org/10.1108/TR-05-2019-0159 Crompton, J., Lee, S., & Shuster, T. (2001), A guide for undertaking economic impact studies: The Springfest example. Journal of Travel Research, 40(1), 79–87. https://doi.org/10.1177/004728750104000110 Cudny, W. (2016). The concept, origins and types of festivals. In Festivalisation of urban spaces (pp. 11–42). Springer. https://doi.org/10.1007/978-3-319-31997-1_6 Davies, L., Coleman, R., & Ramchandani, G. (2013). Evaluating event economic impact: Rigour versus reality? International Journal of Event and Festival Management, 4(1), 31–42. https://doi.org/10.1108/17582951311307494 De-Miguel-Molina, B., & Boix-Doménech, R. (2021), Introduction: Music, from intangible cultural heritage to the music industry. In B. De-Miguel-Molina, V. Santamarina-Campos, M. De-Miguel-Molina, & R. Boix-Doménech (Eds.), Music as intangible cultural heritage. Economic, Cultural and Social Identity. Springer Briefs in Economics (pp. 3–8). Springer. https://doi.org/10.1007/978-3-030-76882-9_1 Deepanjan, S., & Sen, J. (2023). Characterizing the geography of artisanal production: Case of handloom industry in Varanasi, India. Creative Industries Journal. Devesa, M., & Roitvan, A. (2022). Beyond economic impact. The cultural and social effects of arts festivals. In E. Salvador & J. Strandgaard Pedersen (Eds.), Managing cultural festivals: Tradition and innovation in Europe (pp. 189–209). Routledge. https://doi.org/10.4324/9781003127185-14 Dimitrovski, D., Leković, M., & Đurađević, M. (2023). The issue of methodological rigour within the data collection process in tourism and sports studies investigating the economic impact of sporting events. Current Issues in Tourism, 26(14), 2389–2404. https://doi.org/10.1080/13683500.2022.2086452 European Commission, Directorate-General for Education, Youth, Sport and Culture, Hoelck, K., Engin, E., & Airaghi, E. (2017). Mapping the creative value chains. A study on the economy of culture in the digital age: Final report. Publications Office. https://data.europa.eu/doi/10.2766/868748 Fernandez, E., Hewings, G., & Ramos, C. (2015). Adjustment of input–output tables from two initial matrices. Economic Systems Research, 27(3), 345–361. https://doi.org/10.1080/09535314.2015.1007839 Garcia, M., & Judd, D. (2012). Competitive cities. In P. John, K. Mossberger, & S. E. Clarke (Eds.), The Oxford handbook of urban politics. Oxford Academic. https://doi.org/10.1093/oxfordhb/9780195367867.013.0024 Getz, D., & Page, S. (2019). Event studies: Theory, research and policy for planned events (4th ed.). Routledge. https://doi.org/10.4324/9780429023002 Greffe, X. (2010). Introduction: L’économie de la culture est–elle particulière? Revue d’économie politique, 120(1), 1–34. https://doi.org/10.3917/redp.201.0001 Hewings, G. (2020). Regional input–output analysis. Web Book of Regional Science. Regional Research Institute, West Virginia University. Hewings, G. & Fernández, E. (2019). Entropy maximization and input–output analysis. Interdisciplinary Science Reviews, 44(3–4), 272–285. https://doi.org/10.1080/03080188.2019.1670429 Higgs, P., Cunningham, S., & Pagan, J. (2007). Australia’s creative economy: Basic evidence on size, growth, income and employment (Technical Report). Faculty Research Office, ARC Centre of Excellence for Creative Industries & Innovation (CCI). Holý, V., & Šafr, K. (2023) Disaggregating input–output tables by the multidimensional RAS method: A case study of the Czech Republic. Economic Systems Research 35(1), 95–117. https://doi.org/10.1080/09535314.2022.2091978 Hutter, M., & Frey, B. (2010). On the influence of cultural value on economic value. Revue d’économie politique, 120(1), 35–46. https://doi.org/10.3917/redp.201.0035 Klamer, A., Petrova, L., & Eva Kiss, D. (2022). Cultural value of a festival: The quality evaluator for assessing impact. In E. Salvador & J. Strandgaard Pedersen (Eds.), Managing cultural festivals: Tradition and innovation in Europe (pp. 210–231). Routledge. https://doi.org/10.4324/9781003127185-15 Kulenovic, J., & Cech, A. (2015). Six case studies of economically successful cities: Competitive cities for jobs and growth. World Bank. http://hdl.handle.net/10986/23573 Lévy-Garboua, L., & Montmarquette, C. (2011). Demand. In R. Towse (Ed.), Handbook of cultural economics (2d ed., Chapter 26, pp. 177–186). Edward Elgar Publishing. https://doi.org/10.4337/9780857930576.00032 Mahajan, S. (Ed.) (2018). Handbook on supply and use tables and input–output tables with extensions and applications. United Nations. Matarasso, F. (1997). Use or Ornament? The social impact of participation in the arts. Comedia. McCain, R. (1979). Reflections on the cultivation of taste. Journal of Cultural Economics, 3(1), 30–52. https://doi.org/10.1007/BF00167321 McCarthy, K., Ondaatje, E., Zakaras, L., & Brooks, A. (2004). Gifts of the muse: Reframing the debate about the benefits of the arts. Rand Corporation, Santa Monica, United States. https://doi.org/10.7249/MG218 Meeprom, S., & Fakfare, P. (2021). Unpacking the role of self-congruence, attendee engagement and emotional attachment in cultural events. International Journal of Event and Festival Management, 12(4), 399–417. https://doi.org/10.1108/IJEFM-02-2021-0018 Miernyk, W. H. (2020). Regional and interregional input–output analysis. The elements of input–output analysis. Web Book of Regional Science. Regional Research Institute, West Virginia University. Miller, R., & Blair, P. (2022). Input–output analysis: Foundations and extensions (3rd ed.). Cambridge University Press. https://doi.org/10.1017/9781108676212 Moggridge, D. (Ed.) (1982). The collected writings of John Maynard Keynes. Vol. XXVIII: Social, political and literary writings (Chapter 3, pp. 341–349). The Macmillan Press. Organization for Economic Co-operation and Development. (2005). Culture and local development. OECD Publishing. Organization for Economic Co-operation and Development. (2023a). How to measure the impact of culture, sports and business events: A guide, Part I, No 2023/10 (OECD Local Economic and Employment Development (LEED) Papers). OECD Publishing. Organization for Economic Co-operation and Development. (2023b). Impact indicators for culture, sports and business events: A guide – Part II, No 2023/11 (OECD Local Economic and Employment Development (LEED) Papers). OECD Publishing. Palma, M., Palma, L., & Aguado, L. (2013). Determinants of cultural and popular celebration attendance: The case study of Seville Spring Fiestas. Journal of Cultural Economics, 37(1), 87–107. https://doi.org/10.1007/s10824-012-9167-5 Partal, A., & Dunphy, K. (2016), Cultural impact assessment: A systematic literature review of current methods and practice around the world. Impact Assessment and Project Appraisal, 34(1), 1–13. https://doi.org/10.1080/14615517.2015.1077600 Pereira, F., Amaral e Silva, M., & Martins de Brito, D. (2023). The economic contribution of the cultural sector in Brazil: an input–output approach with different income groups. Creative Industries Journal. https://doi.org/10.1080/17510694.2023.2203397 Pereira, L., Jerónimo, C., Sempiterno, M., Lopes da Costa, R., Dias, Á., & António, N. (2021). Events and festivals contribution for local sustainability. Sustainability, 13(3), Article 1520. https://doi.org/10.3390/su13031520 Petrova, L., Graça, S., & Klamer, A. (2022). Evaluating qualities of cultural production: a value-based approach. Media Practice and Education, 23(2), 112–125. https://doi.org/10.1080/25741136.2022.2056793 ten Raa, T. (2009). The economics of input–output analysis. Cambridge University Press. https://doi.org/10.1017/CBO9780511610783 Rodrigues-Ferreira, A., Afonso, H., Mello, J. A., & Amaral, R. (2023). Creative economy and the quintuple helix innovation model: A critical factors study in the context of regional development. Creativity Studies, 16(1), 158–177. https://doi.org/10.3846/cs.2023.15709 SACO. (2016). National arts festival. Monitoring and evaluation: Key development indicator report on a DAC intervention. South African Cultural Observatory, SACO, Department of Arts and Culture, Republic of South Africa, Port Elizabeth, Republic of South Africa. SACO. (2019). An input–output model for the cultural and creative industries in South Africa and possible extension. South African Cultural Observatory, SACO, Department of Arts and Culture, Republic of South Africa, Port Elizabeth, Republic of South Africa. Santamarina, B. (2023). The global competition of the intangible. UNESCO as a Producer of Heritage Brands, Heritage & Society. https://doi.org/10.1080/2159032X.2023.2226572 Seaman, B. (2006). Empirical studies of demand for the performing arts. In V. Ginsburgh & D. Throsby (Eds.), Handbook of the economics of art and culture (Vol. 1, pp. 15–472). Elsevier. https://doi.org/10.1016/S1574-0676(06)01014-3 Seaman, B. (2020). Economic impact of the arts. In R. Towse & T. Navarrete Hernández (Eds.), A handbook of cultural economics (pp. 241–253). Edward Elgar Publishing. https://doi.org/10.4337/9781788975803.00033 Snowball, J. (2008). Measuring the value of culture. Methods and examples in cultural economics. Springer Verlag. Snowball, J. (2020). Cultural value. In R. Towse & T. Navarrete Hernández (Eds.), A handbook of cultural economics (pp. 206–215). Edward Elgar Publishing. https://doi.org/10.4337/9781788975803.00029 Stigler, G., & Becker, G. (1977). De gustibus non est disputandum. American Economic Review, 67(2), 76–90. Sung, H. (2014). UNESCO framework for cultural indicators. In A. C. Michalos (Ed.), Encyclopedia of quality of life and well–being research. Springer. https://doi.org/10.1007/978-94-007-0753-5_3079 Throsby, D. (2003). Determining the value of cultural goods: How much (or how little) does contingent valuation tell us? Journal of Cultural Economics, 27, 275–285. https://doi.org/10.1023/A:1026353905772 Throsby, D. (2020). Cultural statistics, in R. Towse & T. Navarrete Hernández (Eds.), A handbook of cultural economics (pp. 197–215). Edward Elgar Publishing. https://doi.org/10.4337/9781788975803.00028 UNESCO, & World Bank. (2021). Cities, culture, creativity: Leveraging culture and creativity for sustainable urban development and inclusive growth. UNESCO. (2015). Festival statistics: Key concepts and current practices. UNESCO. (2022). Reshaping policies for creativity: Addressing culture as a global public good. UNESCO. (2009). The 2009 UNESCO framework for cultural statistics (FCS). United Nations. (2000). Recommendations on tourism statistics. Statistical Papers, Series M, 83. United Nations Publication Series M No. 83 (Rev–1.0). Van der Hoeven, A., Behr, A., Hamilton, C., Mulder, M., & Rozbicka, P. (2021). 1–2–3–4! Measuring the values of live music: Methods, models and motivations. Arts and the Market, 11(2), 147–166. https://doi.org/10.1108/AAM-09-2020-0041Cultural eventsCultural sectorCultural valueEconomic valueInput–output analysisPetronio Álvarez Pa-cific Music FestivalEventos culturalesSector culturalValor culturalValor económicoAnálisis insumo-productoFestival de Música del Pacífico Petronio ÁlvarezComunidad generalPublication7120359d-db9e-4428-90d5-07a5fe5d4baevirtual::6079-17120359d-db9e-4428-90d5-07a5fe5d4baevirtual::6079-1https://scholar.google.com/citations?user=Va9pxyAAAAAJ&hl=esvirtual::6079-10000-0001-6420-262Xvirtual::6079-1https://scienti.minciencias.gov.co/cvlac/visualizador/generarCurriculoCv.do?cod_rh=0001383677virtual::6079-1ORIGINALAnatomy_of_the_economic_value_generated_by_a_cultural_event.pdfAnatomy_of_the_economic_value_generated_by_a_cultural_event.pdfArchivo texto completo del artículo de revista, PDFapplication/pdf976506https://red.uao.edu.co/bitstreams/7fd85e25-4dcb-4cc1-8820-178ec2021659/download347c9ad8f8b617612b2626f66ff900c2MD51LICENSElicense.txtlicense.txttext/plain; charset=utf-81672https://red.uao.edu.co/bitstreams/aabbd389-4bc0-4de3-9bf5-c55b675f0dac/download6987b791264a2b5525252450f99b10d1MD52TEXTAnatomy_of_the_economic_value_generated_by_a_cultural_event.pdf.txtAnatomy_of_the_economic_value_generated_by_a_cultural_event.pdf.txtExtracted texttext/plain72431https://red.uao.edu.co/bitstreams/5025c967-7fdc-4df2-9029-506bf7eb3df5/downloadea97e58ebcbb064483d24d271f9d2d8cMD53THUMBNAILAnatomy_of_the_economic_value_generated_by_a_cultural_event.pdf.jpgAnatomy_of_the_economic_value_generated_by_a_cultural_event.pdf.jpgGenerated Thumbnailimage/jpeg12112https://red.uao.edu.co/bitstreams/fc9e69f0-e7a2-4a9b-a587-b8ed0189caa7/downloaddf403525def2371178b93be0264d27e6MD5410614/16200oai:red.uao.edu.co:10614/162002025-07-07 10:12:10.671https://creativecommons.org/licenses/by-nc-nd/4.0/Derechos reservados - Vilnius Gediminas Technical University, 2024 open.accesshttps://red.uao.edu.coRepositorio Digital Universidad Autonoma de Occidenterepositorio@uao.edu.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 |