Sarajevo Film Festival reports a strong impact on the local economy
- An independent study on the economic, cultural and social impact of the festival has shown that it generated €26.6 million of income for the local economy and jobs for 1,385 workers
The Sarajevo Film Festival (SFF), which this year runs from 10-17 August, has released the results of a study on its impact on the local economy, tourism, culture and society.
The independent study was conducted by Olsberg SPI, one of the leading international consultancies in the field of the creative industries, and it found that the festival generates significant economic impacts for Sarajevo, and for Bosnia and Herzegovina.
When multiplier impacts were taken into account – including the activities of the festival’s suppliers and the generation of secondary spending in the economy – the study found that the total output related to the SFF amounted to €8.9 million. This supported 99 FTE (full-time equivalent) employees and an overall GVA (gross value added) contribution of €951,358.
The results show that the festival significantly contributes to the larger economy of Sarajevo Canton, and Bosnia and Herzegovina, especially in terms of tourism. Of the 30,000 tourists that visited Sarajevo during the festival dates, 10,000 resided in the city for the festival, which generated income of €26.6 million and created 1,385 FTE jobs in the tourist sector.
For each Bosnian mark (BAM, equalling circa €0.5) injected from private sources, the festival generates a GVA return of BAM 1.41; for public sources, this increases to BAM 1.49. The festival also provides strong tax revenues for the public sector: each BAM of public money put into the festival, from both Bosnian and international public sources, generates BAM 2.11 (€1.08) of total taxation.
The festival also plays a vital role in local audience development, and contributes to the production and the overall quality of the audiovisual industry in the Southeast European region. The Declaration of Sarajevo, adopted following a 2015 conference at the SFF and presently under consideration at the Council of Europe, also provided a strong impetus for the development of a policy on gender equality in the film sector.
In addition to the impact on the local economy, the Sarajevo Film Festival has significantly altered the international perception of Bosnia and Herzegovina, and has a strong influence on local residents, inspiring a sense of belonging and pride, the study has shown.
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