{"id":19013,"date":"2024-10-23T14:24:45","date_gmt":"2024-10-23T13:24:45","guid":{"rendered":"https:\/\/www.islabonitalovefestival.es\/2024\/10\/23\/el-love-festival-genera-una-produccion-sobre-la-economia-de-la-palma-valorada-en-seis-millones-y-un-impacto-publicitario-de-14-millones\/"},"modified":"2024-10-23T14:36:24","modified_gmt":"2024-10-23T13:36:24","slug":"the-love-festival-generates-a-production-on-the-economy-of-la-palma-valued-at-six-million-and-an-advertising-impact-of-1-4-million","status":"publish","type":"post","link":"https:\/\/www.islabonitalovefestival.es\/en\/2024\/10\/23\/the-love-festival-generates-a-production-on-the-economy-of-la-palma-valued-at-six-million-and-an-advertising-impact-of-1-4-million\/","title":{"rendered":"The Love Festival generates a production on the economy of La Palma valued at six million and an advertising impact of 1.4 million"},"content":{"rendered":"\t\t
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During the celebration of the Social Week and the Isla Bonita Love Festival concert, more than 3,300 people came to the island to participate in the events.<\/h4>

The Isla Bonita Love Festival has consolidated its position as a social and economic benchmark for La Palma after its last edition, reinforcing its position as a factor of attraction for visitors to the island, in which the number of people attracted from outside the island to participate in its activities increased and three million euros of direct investment was generated in the economy of La Palma.<\/p>

The figures from the last edition of the Social Week and the concert are now becoming known. It was the president of La Palma, Sergio Rodr\u00edguez, accompanied by the CEO of Sodepal, Miriam Perestelo, and the head of Opinion Achieved Services, Enrique Mart\u00ednes, who presented the most relevant data.<\/p>

A total of 8,713 people attended the Love Festival, of which 3,310 people (38%) came from outside La Palma. Of these, 23%, a total of 771 people, visited La Palma for the first time to enjoy the event.<\/p>

This increase in the number of people from other parts of the region and the country who choose the island to attend this social and musical event also means that the economic repercussions for La Palma have grown compared to previous editions.<\/p>

Thus, Sergio Rodr\u00edguez pointed out, it has been possible to quantify the impact on the economy of La Palma of the Isla Bonita Love Festival, which cost 2.3 million, generating an impact on the economy of the island of La Palma of more than six million euros. Furthermore, the return on the advertising investment stands at 21.6 euros for every euro invested, an extraordinarily positive value, reaching an impact of more than 1.4 million euros.<\/p>

It is also important that, if a comparison is made with the 2018 edition, which was a record number of attendees with 15,000 people, even with 40% less public in 2024, the total disbursement figure has been maintained and the average expenditure per attendee has increased.<\/p>

The 2024 event is an event that also allowed 172 companies to be contracted to provide services during the events, and the employment generated by the spending of the attendees amounted to nearly 42 new equivalent jobs, which were concentrated in commerce, hospitality and financial and business services.<\/p>

In relation to the social impact, it should be noted that 80% of the attendees consider that it contributes a lot or quite a lot to the defence of LGTBIQ+ rights. It should also be noted that the rating given by the participants in the Social Week is nine points out of ten, while those who attended the concert gave it a score of 7.6, according to the surveys carried out. Likewise, according to the attendees, the degree of the festival’s commitment to sustainability received an average mark of between good and good.<\/p>

In this way, Sergio Rodriguez stressed, the objectives of the Isla Bonita Love Festival are reinforced, being the social event that generates the greatest media impact and promotion of the island, boosting economic dynamism and, above all, generating a framework of coexistence and that allows to shed light on the importance of continuing to grow in an egalitarian society.<\/p>

Similarly, Sergio Rodr\u00edguez pointed out that after an important trajectory of the festival, the context has changed, having to compete with musical events of similar characteristics on other islands and with much more economic potential, which is why he indicated that it is time to rethink the format of the Palma event.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

During the celebration of the Social Week and the Isla Bonita Love Festival concert, more than 3,300 people came to the island to participate in the events. 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