Loss from lack of festivals could amount to HUF 80 bln
Shutterstock.com
In addition to the cultural loss, the lack of festivals will cause the state treasury to lose at least HUF 80 billion in revenue this year, said István Márta, President of the Hungarian Festival Association (MFSZ) told Világgazdaság.
Photo by Shutterstock.com
According to the economic daily, 80% of this yearʼs major festivals are sure to be canceled after the government maintains a ban on music and dance events for more than 500 participants.
This applies not only to music festivals, but also to artistic and gastro-cultural events as well.
The festival industry directly employs 37,000 people and 370,000 indirectly.
Report Points to Increased Risk on Commercial Real Estate Ma...
Chinese President to Visit Budapest in May
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
