The Economic Impact of Notting Hill Carnival

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Economic impact
of
Notting Hill Carnival

Tutor: Dr. Debbie Sadd
Student: Yu-Ting Chen (44459459)
Unit: Event Principles and Practice
Word Count: 2,096 words

Table of Contents
Table of contents………………………………………………………………………….2 Abstract…………………………………………………………………………………….3 1. Introduction……………………………………………………………………………..3 2. Economic impact……………………………………………………………………….4 2.1 Definition of economic impact……………………………………………….4 2.2 The reason why economic impact is chosen………………………………4 2.3 Positive and negative economic impacts…………………………………...6 3. Impact of employment…………………………………………………………………..7 4. Impact of business opportunities………………………………………………………7 5. Impact of opportunity costs……………………………………………………………..8 6. Conclusion………………………………………………………………………………..9 7. Reference………………………………………………………………………………..10 Table 1………………………………………………………………………………………..5 Table 2………………………………………………………………………………………..6

Abstract
The Notting Hill Carnival is a vital cultural event in West London and a precious constituent of the London Image. The event has a huge economic effect on the London economy as well. It promoted up to £93m income a year to the city's economy and maintains the equivalent of 3,000 full-time jobs. The aim of the study was to analyse the economic impacts of the Notting Hill Carnival cultural event. The report would focus on three of the economic impacts as employment, business opportunities and opportunity costs to analysis these aspects for positive and negative influence and provide some recommendation of these.

1. Introduction
The Notting Hill Carnival takes place on the August Bank Holiday in London since 1966. It is widely confirmed as the largest street carnival in Europe, along with another two world festival ranking among the highest dramatic of world festival, as New Orleans’ Mardi Gras and the Toronto International Carnival. Carnival is a passionate and celebratory landscape of Black working class experience. Getz (2007) clarified carnival is a type of cultural celebration, which includes celebration of honour or dignify. It is a constitutional section of civilization, containing carnival, masquerading, role reversals, social concession and display. People go to carnivals for fun, play and festivity. They love to dress up or do little protest of social norms in masquerading parades (Getz, 2012). In the early 1960s, there was an event called Notting Hill Festival, which was a small street festivity joined by about 200 people (Bowdin, Allen, O’Toole, Harris, McDonnell, 2011). Initially, it started from the powers of Black immigrants from the Caribbean. There were a great deal of problems that the Caribbean population were facing then, such as issue of racism, shortage of economic opportunities, and needing housing. Today, Notting Hill Carnival gradually expanded and become one of Europe’s largest open-air carnivals.

2. Economic impact
2.1 Definition of economic impact
Allen et al. (2011, p.70) defined the economic impact of the events as “The strong growth of the festival and special event sector is part of a general economic trend away from an industrial product base to a more service-based economy.” A study by Jago and Dwyer (2006 cited Allen et al. 2011) showed there are three main sources which caused the impacts of an event: 1. Expenditure by tourists who come from other region

2. Capital expenditure on facilities is essential to carry out to the event 3. Expenditure raised from event organisers and sponsors to perform the event. According to Getz (2012), if we think the event is a kind of ‘industry’, it will be measured it’s the value of specific activities on the income, treasure and employment of residents in that given geographic region (Ritchie and Goeldner, 1994). The measurement of economic impact usually points out how much revenue or ‘new money’ which is earned from the event into the area is useful. Prosser (2001) indicated that “Consumption by tourists injects the money into the regional economy...
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