An Ernst and Young report found that the Adelaide Festival CentreTrust made a $107.8 million economic contribution to the Greater Adelaide economy in 2015-2016. This represents a return of over $8 on every dollar the government invests in operating and activity funding.
Adelaide Festival Centre's economic contribution resulted in the direct and indirect creation of 1,076 jobs in Greater Adelaide.
The Ernst and Young report also highlighted Adelaide Festival Centre's "significant social contribution [which] encourages greater social cohesion in the community." This social contribution was valued at $52.4 million bringing the total estimated economic contribution to $160.2 million.
In 2015-2016 over one million attendees came to see a wide range of arts and cultural programming at Adelaide Festival Centre, including large scale and long running musicals such as Dirty Dancing, Ghost, and Cats, as well as theatrical, ballet, music, and operatic productions by our resident companies and the Festival Centre's own festivals, programs, exhibitions, and free events.
Adelaide Festival Centre is Australia's first capital city arts centre and continues to lead the way in arts and cultural engagement. Adelaide Festival Centre's Asian engagement strategy is at the forefront of Australia-Asia arts relationships.
Jack Snelling, Minister for the Arts: "This report confirms once again the arts' fantastic economic return on investment. As well as bringing vibrancy and entertainment to our community, the arts are responsible for creating employment and economic growth. Adelaide Festival Centre's success is a testament to the power of the arts and arts centres."
Douglas Gautier, Adelaide Festival Centre's CEO and Artistic Director: "Successful cultural organisations engage and support our multi-cultural community, advance a city's creative energy and reputation, and they have a substantial impact on the economy. The Ernst and Young report confirms Adelaide Festival Centre's economic and social value and drives home the importance of supporting and nurturing the arts industry in South Australia.
"We are grateful for the continued support of the South Australian Government, our partner organisations in South Australia, across Australia and around the world, and our sponsors.
"It is pleasing that the Festival Centre is in a position of strength financially and creatively as we enter a challenging period of construction with the redevelopment of Adelaide Riverbank, Adelaide Festival Centre, and Her Majesty's Theatre over the next three years.
"We are confident that the benefits to the community from the activities of Adelaide Festival Centre will only continue to grow as we enter a period of positive change for the arts in South Australia. Once complete our refurbished venues will provide great platforms for South Australian, national and international artists to develop and present their work. The redevelopments will bring jobs and further economic impact to Adelaide while ensuring that South Australian audiences don't miss out on the best the world has to offer.
"We appreciate the continued support of our patrons, partners and the Government during the period of construction to ensure the Adelaide Festival Centre Trust is in a position to fully maximise the benefits for our community when our new infrastructure is open."
Ernst and Young report findings: