T in the Park ‘worth £40m to Scotland’s economy’

SCOTLAND’S biggest music festival, T in the Park, was worth £40m to the country’s economy last year, its organisers have said.

The figure, which includes local spending and estimated benefits from media coverage, is more than double the £18m figure estimated in 2005, when a similar study was done.

The announcement was made during Perth & Kinross Council’s planning committee meeting, which saw the festival granted planning permission by for the next two years.

The study, carried out by consultancy firm Ekos, showed that event’s “significant economic impact”  on Scotland was almost £9.6 million – a 31 per cent increase since 2005.

At Tayside level, the impact was £3.7 million – an 80 per cent rise from 2005. Locally, the event generated more than £2.7 million for Perth & Kinross – a 91 per cent increase since 2005.

The media impact of the event in 2005 was independently assessed as worth £10 million, and is now estimated to have increased to over £30 million.

This figure was derived from looking at the estimated benefits to tourism and other industries from news articles generated in print and online, as well as television coverage.

A spokesman for the event said: “These figures show T in the Park’s continued and increased value to the Scottish economy as a whole, as well as at a local level.

“The festival has taken place in Kinross for 14 years and we are delighted that we will be continuing our commitment to the area and our positive relationship with the local community and the council.”

The 19th T in the Park festival in Balado, near Kinross, will be held over the weekend of 6-8 July.