Air show lands £11m for region
LOWESTOFT's 10th annual air show has netted more than £11 million for the regional economy, a new report has revealed.It also said the show would go ahead next July despite a relatively small amount of money being generated from public donations on the two days.
LOWESTOFT's 10th annual air show has netted more than £11 million for the regional economy, a new report has revealed.
It also said the show would go ahead next July despite a relatively small amount of money being generated from public donations on the two days.
The report, commissioned by Waveney District Council, is the result of research carried out by the East of England Tourist Board.
It says the Lowestoft Seafront Air Festival is making a huge impact on the local and regional economy, creating both wealth and jobs.
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An estimated 420,000 people attended the event, generating more than £11 million for East Anglia - nearly £10m of that for the local economy - and creating 152 full-time jobs.
For the past two years the show has been run by a private non-profit making company, the Lowestoft Seafront Air Festival Ltd, with support from Waveney council which previously organised the event.
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At a meeting to reveal the figures, Waveney tourism officer Asa Morrison said: “No event within two or three hours' drive of Lowestoft comes anywhere near this.”
And Graham Cooke, retiring chairman and now honorary president of the Air Festival company, told the meeting: “On a visit to Duxford at the weekend I was told by Spitfire pilot Carolyn Grace that, with its 420,000 attendance, the Lowestoft Air Festival is now regarded within the air industry as the No 1 air show in Europe.”
The overall cost of the 2006 airshow, including “in kind” benefits, was £325,000 but with public contributions and car park revenue totalling just over £100,000 plus other revenue from sponsors and traders, a small operating profit was achieved.
As a result organisers have decided to go ahead with next year's event on Thursday July 26 and Friday July 27.
Next year's show will have a special theme commemorating the 25th anniversary of the Falklands Conflict.