SANTA CRUZ DE TENERIFE, 23 Oct (EUROPA PRESS) –
The Isla Bonita Love Festival has established itself as a social and economic benchmark for La Palma following its latest edition, reinforcing its appeal as a destination for visiting the Island, with an increase in the number of visitors from outside the area drawn to partake in its activities, resulting in 6 million euros of direct investment into the local economy.
This announcement was made by the president of the Cabildo, Sergio Rodríguez, who was joined by the CEO of Sodepal, Miriam Perestelo, and Enrique Martínez, representative of Opinion Services, who disclosed the most significant statistics from the recent social and concert week celebration.
The Love Festival features attracted a total of 8,713 participants, of whom 3,310 (38%) hailed from beyond La Palma. Among these, 23% (771 individuals) visited the Island for the first time to enjoy the event. This rise in visitors from various parts of the region and nation choosing La Palma for this social and musical occasion signifies a notable economic growth compared to previous years.
Sergio Rodríguez emphasised that they have quantified the economic influence of the Isla Bonita Love Festival, which incurred costs of 2.3 million euros and generated over 6 million euros in economic impact for La Palma. Furthermore, the return on advertising investments is recorded at 21.6 euros for each euro spent, resulting in an impact exceeding 1.4 million euros.
When contrasted with the 2018 edition, which saw a record attendance of 15,000, despite a 40% decrease in audience numbers in 2024, the total spending figure has been maintained and the average expenditure per attendee has risen. The event in 2024 additionally facilitated the employment of 172 companies to deliver services throughout the festivities, with the visitor spending creating approximately 42 new equivalent jobs, predominantly in the retail, hospitality, and financial sectors.
Concerning the social impact, 80% of attendees feel that the festival significantly contributes to the promotion of LGTBIQ+ rights. It is also noteworthy that participants rated the Social Week at nine points out of ten, while concert attendees recorded an average score of 7.6. Moreover, the festival’s commitment to sustainability received an overall assessment between good and noteworthy according to attendees.
Therefore, Sergio Rodríguez highlighted that the objectives of the Isla Bonita Love Festival are reinforced, being the preeminent social event that generates substantial media coverage and publicity for the Island, fostering economic rejuvenation and importantly, creating a framework for coexistence that underlines the need for continued growth towards an inclusive society. He also stressed that, after a significant history of the festival, the landscape has evolved, and it now faces competition from musical events of similar nature emerging in other Islands with greater financial means, suggesting it is time to reconsider the format of this beloved palm event.
