Festivals can improve the image of host communities, making them an appealing destination and boosting local economy. However, it is hard to measure their actual impact, which is a key factor to justify governments’ initiatives. This study aims to verify how accurate direct expenditure analysis can be. First, the impact of new visitors’ expenditure is calculated based on a survey. Then, consumption indicators are used to forecast the actual economic impact of the festival. Finally, both results are compared. Even though the values gathered with consumption indicators are only a lower bound of the festival’s impact, this study found that assessing expenditure intentions during the festival leads to impact estimates that can be three times higher. The theoretical contribution of this study is to identify direct expenditure analysis weaknesses and how to reduce their effects

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Economic impact,Event evaluation,Event and festival management,Direct expenditure analysis

• Ciências Químicas - Ciências Naturais
• Ciências da Terra e do Ambiente - Ciências Naturais
• Outras Ciências Naturais - Ciências Naturais
• Engenharia do Ambiente - Engenharia e Tecnologia
• Geografia Económica e Social - Ciências Sociais