Big Hogmanay events in city face cutbacks

Published on Saturday 6 June 2009 11:34

MAJOR Hogmanay events across Edinburgh face cutbacks after last year's iconic celebrations made a £500,000 loss.

The world-famous attraction made losses for a second consecutive year, with around 10,000 tickets going unsold and costly advertising campaigns, in a bid to sell them, further draining finances, it was reported today.

Organisers are now looking at axing events or scaling them back under plans to reduce the burden on taxpayers across the capital.

Hogmanay celebrations in Edinburgh brought an estimated 53 million to the economy in 2002/3, but that has reportedly shrunk to 32m.

Last year, no major events at the celebrations sold out – for the first time in history.