Contributors

Valeriya Shapoval

Jalayer Khalilzadeh

Abstract

The experience of the first lustrum of the Curaçao North Sea Jazz Festival (CNSJF) has been nothing short of astonishing and spectacular. Since 2010, nearly 45,000 international tourists have attended the festival contributing US$75 million to the local economy. These international tourists stayed on average 6.07 days on the island and spent nearly US$263 per day. More significant is that this daily average expenditure by international tourists attending the festival was nearly four times higher than the typical tourists visiting Curaçao. The spending performance prompted by the festival is indeed impressive news in a tourist environment typified lately by stagnation in tourism spending. The economic significance of the festival for the island is thus impressive.

The total economic contribution of the CNSJF of US$75 million is equivalent to nearly 3% of the gross national product and nearly 13% of the total value of tourism on the island in 2012. The economic significance of the festival is even more impressive when considering its impact on the local hotel industry. According to the Central Bank of Curaçao, the month of August is the only bright spot in terms of RevPar (revenues per available room) spanning the months of May till January in 2013. The RevPar of August 2013 was US98.41 which exceeds the RevPar of all months, except the months from January to April with more than 40% of the revenues of the hotel industry stemming from the festival. An alternative lens through which to view the contribution of the CNSJF is that if it were not for the festival taking place in the month of August, the local hotel industry would have lost nearly US$7 million of its revenues.

Beyond the economic benefits to the island, the festival contributed in some other important ways to the welfare of the island. For example, the festival was instrumental in enhancing the image of the destination. Eighty percent of the 2014 festival attendees reported that their image of the island had improved by attending the festival. This image enhancement is a significant benefit as previous studies indicate average or no expectations at all when arriving in Curaçao! Additionally, the festival generated widespread media exposure which indirectly has generated millions in promotion of the island in international markets. Frequent reports prompted by the festival in the most prestigious written and broadcasting media outlets in Venezuela, Colombia, Peru, Chile, Brazil, Surinam, Panama, Miami, New York, Boston and most of the European countries documented the excitement of the nightlife in Curaçao.

Keywords

Curaçao, North Sea Jazz Festival

Prepared For

Fundashon Bon Intenshon

Publisher

The Dick Pope Sr. Institute for Tourism Studies

College

Rosen College of Hospitality Management

Publication Date

10-17-2014

Document Type

Report

Format

application/pdf

Language

English

Place

Curacao

Rights

No part of this publication may be reproduced, transmitted, transcribed, stored in a retrieval system, or translated into any language, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without prior written permission from The Dick Pope Sr. Institute for Tourism Studies. All copyright, confidential information, design rights and all other intellectual property rights of whatsoever nature contained herein are and shall remain the sole and exclusive property of The Dick Pope Sr. Institute for Tourism Studies. The information furnished herein is believed to be accurate and reliable. However, no responsibility is assumed by The Dick Pope Sr. Institute for Tourism Studies for its use, or for any infringements of other rights of third parties resulting from its use. The UCF and The Dick Pope Sr. Institute for Tourism Studies name and logo are trademarks or registered trademarks of the University of Central Florida.

Type

article

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