New, positive, enthusiastic and industrious Turku mentality
The European Capital of Culture year brought a production impact of 260 million euros
Turku School of Economics has compiled a report for the Turku 2011 Foundation about the economic impact of the Capital of Culture year on Turku and the whole Southwest Finland. According to the results, the total production and employment impacts were clearly higher than expected.
The European Capital of Culture year 2011 brought to Turku and Southwest Finland a production impact of altogether 260 million euros. This was 60 million euros higher than was preliminarily estimated. To reach long-term positive well-being impacts, concrete actions are needed in addition to strategy work.
According to the preliminary estimate drawn up at the Turku School of Economics in 2009, the employment impact would have been 2,300 person-years, when successful. Converted into monetary value, this would have corresponded to a 200 million euro growth of total production.
The figures do not include the data of international tourism or such tourism in Turku which would have taken place even without the Capital of Culture year.
Transitional rite to a new era
The report's qualitative research section, based on interest groups’ interview material, produces an image of the long-term opportunities the Capital of Culture year created for Turku.
Connection between a robust culture and a successful economy
According to Christoffer Taxell, Chairman of the Turku 2011 Foundation, the study shows that the Capital of Culture year was a success, besides to its contents, also economically. According to Taxell, the example of Turku is one proof of the evident connection between a robust culture and a successful economy.
The summary of the report:
The research is compiled by Turku School of Economics
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