The hinterland around Stradbally village, and the village itself benefits from the Electric Picnic to the tune of millions every year, a new report has found.
The net economic worth of the festival in the Stradbally area, including Kildare areas of Athy, Kildangan and Monasterevin, equates to €16 million of activity - according to research carried out by academics commissioned by Festival Republic, the company behind the Electric Picnic festival.
Approximately 25% of the gross spend was in Stradbally village and 75% of the gross spend was on the festival site.
In the surrounding area, excluding Stradbally, the economic impact was found to be over €4 million, while the effect on the Leinster region as a whole amounted to over €25 million.
The researchers found that the main income from the festival was the money spent by those attending the annual event, and that spent by the organisers.
Data shows an estimate of €11 million gross expenditure on site by the visitors and €15 million off site, totalling €26 million.
In addition the company spent €10 million on Suppliers and Contractors as well as the payroll staff, giving a direct spend of €36 million - which is the total net economic impact of the festiva..
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