Festival economics: the case of the Red River Revel

Authors: Clarke, Gregory D.; Hoaas, David J.

Source: Tourism Economics, Volume 13, Number 1, March 2007 , pp. 163-175(13)

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Abstract:

Arts festivals are common in America. One successful festival held in Shreveport, Louisiana is the Red River Revel Arts Festival. The Revel features numerous artists, in addition to musical entertainment. Though the Revel charges admission, its primary revenue source is concession sales. Anecdotal evidence argues that concession sales are dependent upon many things, such as: the temperature, rain, and admission fee. This paper estimates a demand function for concession sales at the Revel between 1995 and 2004. This work has policy implications for those running the Revel, while also being of interest to the economist conducting research on similar topics.

Keywords: FESTIVAL; DEMAND; WEATHER; MUSICAL ENTERTAINMENT; OUTDOORS; ART

Document Type: Research article

DOI: http://dx.doi.org/10.5367/000000007779784470

Publication date: 2007-03-01

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Tourism Economics, published bimonthly, is a peer-reviewed journal devoted to the economics and finance of tourism worldwide. Articles address the components of the tourism product (accommodation; restaurants; merchandizing; attractions; transport; entertainment; tourist activities); and the economic organization of tourism at micro and macro levels (market structure; role of public/private sectors; community interests; strategic planning; marketing; finance; economic development).
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