Investigating the economic impacts of culture events on the hotels and tourism industry

This study examines how cultural events, specifically music concerts and film and television activities, affect hotel revenue, lodging demand, and visitor arrivals. Using panel data from Taiwan’s international tourist hotels from 2020 to 2023, we estimate the marginal impact of these events while controlling for hotel characteristics and external shocks. Results show that music concerts positively affect hotel revenue and lodging demand, whereas film and television activities exhibit negligible or slightly negative short-term effects. The aggregated impact of music concerts on creating lodging demand and attracting independent guests is comparable to structural hotel attributes such as location and brand affiliation. The findings suggest that while cultural events can stimulate tourism demand, their effectiveness varies by type and should be evaluated alongside broader economic and policy considerations. We recommend further studies on the potential long-term effects of these events.