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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.
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.