This year's Lowestoft Seafront Air Festival generated £11.3m for the regional economy and created 152 full-time jobs, according to a new report.
This year's Lowestoft Seafront Air Festival generated £11.3m for the regional economy and created 152 full-time jobs, according to a new report.
The report commissioned by Waveney District Council and carried out by the East of England Tourist Board, concluded that an estimated 420,000 people visited the festival this year.
Waveney tourism officer Asa Morrison said: “No event within two or three hours' drive of Lowestoft comes anywhere near this.”
The report concluded that the July air show generated £9.8 million to the local economy and a further £1.5 million to the regional economy. In addition the report states that the two-day spectacular created 129 local jobs and 23 regional jobs.
The overall cost of the 2006 airshow, including “in kind” benefits, was £325,000 but with public contributions and car park revenue totalling just over £100,000 plus other revenue from sponsors and traders, a small operating profit was achieved.
Organisers have decided to go ahead with next year's event on July 26 and 27.
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