Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.

Thank You
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

Submit Post
සිංහල පරිවර්තනය

Display results as :


Rechercher Advanced Search

Latest topics

» MACD A Powerful Tool to Predict Market Trends
by Miss-Sangeetha Yesterday at 4:32 pm

» Wiser's TA Chart Room
by EquityChamp Yesterday at 3:23 pm

by wisdom79 Yesterday at 2:01 pm

» No confidence motion and CSE
by Ahcha Yesterday at 10:17 am

by anges Yesterday at 1:32 am

» HVA March reports
by Yazaar92 Fri Mar 16, 2018 3:32 pm

» Earn 1.5% daily interest.. guaranteed..
by Uaecoindubai Fri Mar 16, 2018 5:19 am

» Market Sell Off
by kovida Thu Mar 15, 2018 11:39 pm

» At least 30 % return within 30 days
by Theekshana Thu Mar 15, 2018 9:28 pm

» Stocks we can buy at current situation
by Harry82 Thu Mar 15, 2018 5:55 am

» Sri Lanka Equity Research
by Mohamed Siraj Thu Mar 15, 2018 12:13 am

» A Humble Request to Fill Up an Online Survey for Research Purpose
by Mohamed Siraj Thu Mar 15, 2018 12:06 am

» CDB is Silent killer in Banks.
by Harry82 Wed Mar 14, 2018 7:55 pm

» CDB - Jounery Begun..
by ranferdi Wed Mar 14, 2018 1:07 pm

» What is the situation of Adam Group
by ranferdi Tue Mar 13, 2018 2:58 pm

by sharemarket Tue Mar 13, 2018 1:43 pm

» Egg Supply of sri lanka. (NEWS)
by suku502 Tue Mar 13, 2018 1:38 pm

» REEF getting GREEN
by Ran49 Mon Mar 12, 2018 9:45 pm

» COCR can be attractive
by suku502 Mon Mar 12, 2018 8:53 am

» HSIG 10 Rs dividend at 73
by TuTanKaman Mon Mar 12, 2018 7:38 am

Forum Disclaimer

The information contained in this forum have been submitted by third parties directly without any verification by us. The information available in this forum is not researched or purported to be complete description of the subject matter referred to herein. We do not under any circumstances whatsoever guarantee the accuracy and completeness information contained herein. its blogs, forums, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not in any way be responsible or liable for loss or damage which any person or party may sustain or incur by relying on the contents of this report and acting directly or indirectly in any manner whatsoever.

Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility, its blogs, forums, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. The information on this website is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.

You are not connected. Please login or register

Sri Lanka Equity Forum » Political and Socio-Economic Analysis » Galle Lit Fest to generate over $ 4 m boost for local economy: Dobbs

Galle Lit Fest to generate over $ 4 m boost for local economy: Dobbs

Go down  Message [Page 1 of 1]

Melissa Pereira

Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
[size=48]The upcoming Fairway Galle Literary Festival 2016 is expected to generate more than $ 4 million in benefits to the local economy, according to Festival Founder Geoffrey Dobbs.[/size]
The event is set to attract upwards of 4,000 visitors over the course of four days to the tourist nerve centre of Galle. Unravellingduring peakseason, the festival is poised to be a boon to local businesses such as “three-wheelers, restaurants and boutique hotels,” Dobbs told the Daily FT.  Following a four-year hiatus, next year’s event will expand its scope to include events in Colombo, Kandy and Jaffna, where the event will be held free at the Jaffna Library. 
Galle Lit...
This expansion is likely to drive up Dobbs’ estimate of $ 4 million and introduce visitors to regions outside of the south, where tourism has much room for growth.
The Festival will be held in Kandy from January 8th- 10th, in Galle from January 13th - 17th and Jaffna from 23rd – 24th January.
With Jetwing Hotels – a key sponsor of the event – set to launch its first hotel in Jaffna this December, Jetwing Travels Managing Director Shiromal Cooray expressed optimism that the festival’s expansion to the peninsula would attract business to the region. “People in Jaffna want events like this. They are really hungry for the opportunity,” she said.
In line with Prime Minister Wickremesinghe’s policy goal to increase the average expenditure of tourists in the country from the meagre $ 50 a day, Dobbs pointed out that the festival attracts visitors with higher spending capacity.
“The visitors who come to our event are not backpackers, but much bigger spenders. On average visitors spend around $300 a day on accommodation, food and shopping, but there are some who would splurge as much as $ 700 or more,” he noted.
According to Dobbs, approximately 30% of the festival’s attendees are from overseas. Another 40% are from Colombo, particularly wealthier areas such as Colombo 5 and Colombo 7. With the Southern Expressway fully functional, figures from Colombo are expected to rise.
Despite the supposed benefit to the economy, the event is not partnered with the Sri Lanka Tourism Promotion Bureau or the Galle Municipal Council. Dobbs told the Daily FT that despite efforts to partner with these Government bodies, there had been no progress due to undisclosed reasons.
Touching on the four-year hiatus, Dobbs said he was setting plans in place to ensure the festival could go on without his oversight, adding that the event was a team effort. “Although I’m the founder, it has to go on without me. There must not be a break of another four years if I fall ill again.”
Founded in 2007, at a deeply-troubled time for the country, the arts and culture based festival set itself up as an attraction for wealthy tourists and locals alike looking for experiences beyond conventional attractions such as beaches and estates.
Dubbed the‘number one literary festival in the world’ in its inaugural year by Harper’s Bazaar, the festival has since become a profitable event for the tourism and service industry. However, the event on its own is not a highly-profitable venture, according to Dobbs.
“No events like this are profitable; they rely hugely on sponsorship,” he said.
While figures of the festival organisation costs were unavailable, Dobbs disclosed to the Daily FT that 60% of organisational costs were financed by sponsors with the remaining 40% covered by ticket sales.
Following on more recent events spearheaded by him such as the Galle Biryani Festival, Dobbs states that his aim is to “restore Galle’s status in the 19th century as the capital of the Indian Ocean,” attracting even more sponsors and visitors from overseas.

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum