Business Principles of the Edinburgh Fringe Festival Essay

Business Principles of the Edinburgh Fringe Festival - Essay Example Even though the economic impact of the festival remains a major concern, there was an agreement with the major stakeholders that it was vital to look into other aspects of the festival. The Edinburgh festival attracts all kinds of performers ranging from regular school boys to star actors. With more than 260 performance venues, such as dim vaults, giant theatres, and moving buses the event has the capacity to hold thousands of actors. All the venues available manage to hold more than 2,000shows in the 25 day long festival. The establishment of the Scottish parliament has to a large extent altered the political landscape. Edinburgh is considered as the standard –bearer for Scotland and a very vital in promoting and strengthening the pride of the Scottish people and their identity as a whole. However, there has been a very great concern by most people and even politicians in Scotland that Edinburgh is not getting the recognition it deserves as a cultural ambassador. This is with due to the numerous festivals that Edinburgh has organized and hosted with very limited resources. In that aspect parliament has come up with certain legislations to help boost the cultural events in their quest to promote the Scottish culture. Nationally Edinburgh is faced with numerous challenges. Whereas there are some people who are of the opinion that a lot of resources is being allocated to the capital, there are some who are of the opinion that Edinburgh festivals may play a very crucial role in promoting the national economy through cultural tourism (British Association of Social Workers 1976, 87). Certainly the Edinburgh’s economic position can be termed as healthy due to some various factors such as low unemployment rates and projected growth in job opportunities. In a research carried out in Scotland in respect to the highest revenue earners for the country. In the year 2010, tourism accounted for about 1.5bn pounds of expenditure by