Actors and directors will soon walk the red carpet. It’s a golden opportunity for the region, as the event generates a significant economic impact each year. Beyond the Festival and its stars, the Cannes Film Market brings together more than 12,000 accredited professionals — producers, buyers, distributors, and programmers — 85% of whom are foreigners.
In 2017, this event generated 197 million euros, according to calculations by the Palais des Festivals.
In detail, this figure includes the direct economic impact (in other words, the event’s revenue), the indirect impact (meaning the spending of festival-goers in the region), and finally, the induced impact.
The annual evaluation conducted by the Palais des Festivals shows a slight increase compared to the previous edition. The total economic impact was indeed estimated at 196.1 million euros for the 2016 edition.
It’s currently difficult to estimate the Festival’s impact on the economy in 2018. Could the turbulent social spring affect attendance and consequently reduce the benefits?
The opening and closing of the Festival coincide with a day of social movement at Air France and two episodes of the “staggered” railway workers’ strike, which began in early April.
