More than 60,000 people regularly attend the Riverside Festival in recent years
Beautiful conditions in recent years have brought thousands to the River Soar(Image: Lee Garrett/Leicester Mercury)
A free Leicester festival has boosted the city’s economy by more than £3 million, a new report has revealed.
The annual Riverside Festival has been running since 1997, and is to celebrate its 30th anniversary next year, with 2026’s event fast approaching.
The free two-day event takes place every year on the banks of the River Soar in Leicester, with stalls, boating activities, children’s fun and plenty of performers.
A report published by Leicester City Council addresses the growth of the festival post-Covid which recognises substantial economic benefit.
The Riverside Festival has lots of fun for all ages (2023’s event).(Image: Lee Garrett/Leicester Mercury)
The festival started originally as a “modest” Sunday afternoon celebration linked to the regeneration of the riverside.
The council’s head of festivals, events and cultural policy, Graham Callister, said that across the weekend it now attracts between 60,000 to 70,000 people.
He estimates that the average visitor spends £51.96, making the estimated impact on the city’s economy “far greater”.
Mr Callister said: “Originally conceived as a modest Sunday afternoon celebration linked to the regeneration of the riverside – particularly the Bede Island area – the festival has grown significantly post-Covid into one of Leicester’s largest free outdoor events and biggest arts festival in the sub-region, attracting weekend audiences between 60,000 – 70,000 in recent years.
“Based on current attendance and visitor spending estimates, the festival generates an estimated economic impact of around £3.1 million for the local economy, representing a strong return on the council’s investment.
“Looking ahead, Riverside Festival also supports Leicester’s ambitions to strengthen its cultural profile and creative economy.”
The report addresses that the city council contributes £35,000 to Riverside Festival, which represents approximately 24 per cent of the total budget for the event.
Mr Callister said that remaining funding is secured through commercial income, sponsorship and partnership support.
Nine organisations are partnered with Riverside Festival including De Montfort University and Leicester Music Board.
Leicester Riverside Festival features more than 80 artists and performers across its two-day period.(Image: Devon Winters)
The event has five sites, more than 80 artists and performers, as well as more than 100 business, stalls and traders.
In the report, Mr Callister also highlighted that the festival acts as a “major platform” for community organisations and creatives.
He added: “It showcases Leicester’s creativity, diversity, heritage assets and riverside public spaces, while providing a major platform for local artists, community organisations and creative businesses.
“As a free and family-friendly event, Riverside Festival ensures that high-quality cultural activity remains accessible to residents regardless of income, enabling people from across Leicester’s communities to come together and participate in shared cultural experiences within the city’s public realm.
“As it continues to evolve, it provides a strong foundation for developing a distinctive multi-artform ‘signature festival’ aligned with the Leicester Leading Cultural and Creative Industries Strategy, with opportunities to further enhance artistic ambition, partnership support, sustainability measures and the wider city centre festival footprint.”
The festival will take place on Saturday, June 6 and Sunday, June 7.
