Peterborough Musicfest, an outdoor summer music festival, has a significant economic impact on the Peterborough, Ontario region, according to a new assessment by Peterborough and the Kawarthas Economic Development (PKED). The assessment evaluated factors such as visitor numbers, accommodations, restaurants, and transportation and determined that the festival generates $4.3 million annually for the region.
The festival, which is set to begin its 37th season this summer, is the longest-running free music festival in Canada. According to Joe Rees, director of tourism with PKED, arts and culture experiences like Peterborough Musicfest are a major draw for visitors and locals alike.
The assessment found that aggregate visitor spending during the festival exceeded $1.76 million. The combined spending of out-of-town attendees, participants, VIPs, and other visitors, along with the expenditures made by the event organizers, totalled over $2.34 million.
Visitor spending was distributed across several sectors, with accommodations and restaurants leading the expenditure categories at 18.8 per cent and 29.8 per cent, respectively. Of the 110,000 people who attended the festival in 2023, 63 per cent were considered local (within a 40-kilometre range), while 64 per cent said the festival was the sole reason for their visit to Peterborough.
The assessment also estimates that $1.2 million in wages and salaries are supported by economic activity generated by Peterborough Musicfest. The festival remains grateful for the ongoing community support and relies on sponsorships, government funding, and donations to continue offering free admission concerts.
Season 37 of Peterborough Musicfest runs from June 20 to Aug. 17. Among acts confirmed so far include Metric on July 17 and Down with Webster on July 31.
