The Festival Economic Index (fei-dung Model): a Framework for Measuring the Economic and Cultural Value of Festivals
Year: 2025
Type: article
Abstract: This working paper introduces the Festival Economic Index (FEI-DUNG Model), a conceptual and analytical framework for measuring the multidimensional value of festivals. The FEI model consists of five interlinked pillars—Economic Output, Cultural & Social Capital, Tourism & Trade Linkages, Cultural Diplomacy Impact, and Sustainability & Governance—comprising 25 component indicators. Each pillar represents a critical domain of the festival economy, evaluated through quantitative and qualitative data sources, including national statistics, sociological surveys, and digital analytics. The FEI-DUNG Model redefines the notion of “economic value” by integrating tangible and intangible contributions of festivals to GDP, employment, social cohesion, soft power, and sustainability. Designed as both a research instrument and a policy tool, this model aims to guide governments, cultural organizations, and researchers toward evidence-based strategies for building a resilient and sustainable festival economy.
Author: Trần, Anh Dũng
Institution: Saigon University
Language: English
Subfield: Urban Studies
Field: Social Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W7104921320
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