The Economic Benefit of Festivals

The biggest parties in the world are considered a festival; everyone can join in festivals, and even grandma and baby can also enjoy the festivals, so nowadays, many countries have their festivals, like tomato festivals in Spain and butterfly festivals in South Korea. They are all famous festivals worldwide so they can get profits from them. 

In the anthropological tradition, 'festival' is broadly one of the religious and cultural phenomena, but for us, festivals are easy to understand as a game. For example, In my hometown Yesan, the weather is good, the four seasons are clear, so agricultural products are cut well, and local festivals are held in the fall. Instead, the biggest festival in Yesan called the "Samgook festival," proves that it is an examination of our life and its essence. "Yesan Samgook Festival" was initially started as a food called "gookbob" by local people. However, as it displays the chrysanthemum, a symbol of autumn, and combines noodles, a specialty of the Yesan region, into one festival, it is a festival that is easy to get interested in religious and political limitations. Everyone was able to immerse themselves in character. In fact, during the six-day festival period, only 70,000 people lived in the Yesan, but 400,000 people visited the Yesan Samgook festival. Moreover, they get economic profits like their income of about 15 million dollars and increase in local production.

According to the news, the economics professor says that after the Endemic, people want to join the festival because they are stressed about Covid 19 and want to find a method to relieve their stress. For instance, at the festivals of the university in South Korea, they invited famous groups or singers in Korea to satisfy and advertise their university. They can get profits for their financial needs because they can be invested from other foundations in Korea, so they can earn money from this festival because people get interested in it. After all, famous singers are invited to this festival. So they earn more than 8 million dollars per festival. 

Now that the pandemic is over, we can enjoy the festivals without masks and keep a distance campaign. So the foundation for the festivals can get more profits than a pandemic situation.