Flavours of Australia: Economic Development through Food Festivals

This paper explores the economic benefits of food festivals like Flavours of Australia for New South Wales. It discusses the stakeholders involved, including the government, financial institutions, food businesses, and tourists. The paper also highlights the opportunities generated by festivals, such as revenue generation for local businesses, promotion of tourism, and economic development. Additionally, it emphasizes the role of local governments in supporting and financing these festivals.

Running head: FLAVOURS OF AUSTRALIA
Flavours of Australia
Name of the Student:
Name of the University:
Author Note:

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Table of Contents
Introduction:................................................................................................................................................1
The new annual festival-Flavours of Australia: Its main attractions:...........................................................1
The main stakeholders:............................................................................................................................2
Opportunities the festivals would generate for New South Wales:..............................................................3
Advantage of the local stakeholders or constituents:...............................................................................3
Attracting tourism:...................................................................................................................................4
Economic development:..........................................................................................................................4
Role and importance of the local governments:...........................................................................................4
Benefits for the constituent (stakeholders) of the festival:...........................................................................5
Tourism and economic development of the NSW:......................................................................................5
Conclusion:..................................................................................................................................................6
References:..................................................................................................................................................8

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Introduction:
Festivals today play significant role in economic development of regions in which they are held.
There are festivals like Tastes of Rutherglen and Gourmetescape which have their own tourist base which
attend them (trundleabbafestival.com 2018). Thus, these festivals have gained not only cultural
significance but also economic significance as well. This also means generation of more tax which has
made the local governments support these festivals. The paper would explore these advantages music
festivals garner today by taking an elementary food festival called Flavours of Australia as the example.
The festival would allow the local food businesses of New South Wales to sell and market their produce
before the local residents and the tourists. The paper stands on the stakeholder theory and studies the
impact of stakeholders like governments on the festival
The new annual festival-Flavours of Australia: Its main attractions:
The new annual festival to be held in Australia which would require participation and support of
all the stakeholders like the local government, the resident people and the financial institutions would be
named ‘Flavours of Australia’.
The main attraction of Flavours of Australia would be Australia’s own cuisine to
participants of the festivals. Australia has a rich food culture of its own which blends ancient food
habits with modern dishes which it inherited from the west during the colonial period. The festival would
showcase the local food items like lamb dishes, kangaroo dishes, emu dishes and sea food dishes-lal of
which are priced Australian delicacies. The festival would allow the wine makers of Australia showcase
their high quality wine before the attendees. Flavours of Australia would also see presence of local
bakeries and dairies presenting their mouth-watering desserts, pastries and biscuits. The festival would
also see international restaurant chains like Zambrero and MacDonald’s showcasing their food items to
show their support for the festivals and its other stakeholders (Cleave et al. 2016).

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The secondary attraction of Flavours of Australia would be promoting the local art and artefacts
as well. This would artists market and sell local art exhibits like Aboriginal paintings and small statues,
all of which would help promoting Australian culture (Naldi et al. 2015).
The main stakeholders:
Flavours of Australia would aim to promote the local delicacies of Australia and would require
participation of all the stakeholders. The key stakeholders of the festival would be the Government of
New South Wales. The organisers would require obtaining the approval of the Honourable Governor of
New South Wales. The festival should begin with the Governor inaugurating it and the other important
government officials gracing the festival with their presence.
The next important stakeholder group would consist of the banks and financial institutions having
their branches in New South Wales. They would the important role of providing financial help for the
festival. The festival would also provide them with the opportunities to promote their financial products
which would increase their revenue generation. The banks can in addition to their stalls, hold small events
like game shows to interact with the visitors at the food festival (Fuseini and Kemp 2015).
The next important stakeholder would consist of the food businesses which would participate at
the food festival. They would consist of bakeries, dairies, fast food sellers, organic food sellers, local
farmers and wine makers of Australia. The list would also incorporate international chains of fast food
who would express their support by selling their food items, exclusively made for Australia (Stenberg et
al. 2014).
The customers and the people in general would be another very important group of stakeholders
since, they are the stakeholders whom the Flavours of Australia would actually aim for revenue
generation. New South Wales is one of the most sought regions of Australia visited by tourists which
means the tourists would also form an important stakeholder group in the festival along with the local
residents (Park and Ghauri 2015).

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The last group of stakeholders would consist of supporting suppliers like event organisers, the
providers of water, electricity and marketing firms that would promote the event. The online ticketing
partners and the online promotional partners would also belong to this category. The group would also
include accounting firms and auditors taking care of the recording of accounting transactions pertaining to
the event (Jones and Jones 2014).
Opportunities the festivals would generate for New South Wales:
Festivals like “Flavours of Australia’ play very important role in their development of the
economic condition of the local people, boost local tourism and encourage overall economic development
of the region. These benefits have made the local governments encourage and finance such festivaks. The
following are the main opportunities or advantages festivals would generate for New South Wales region:
Advantage of the local stakeholders or constituents:
Festivals like Flavours of Australia would allow the business organisations to present their goods
and services before both the resident people and tourists. These local business organisation consist of
producers of dairy farms, bakers and wire sellers which mostly sell their products to the companies which
market their products and have very limited access to the final consumers. The food festival would enable
these local producers to offer their food products among the local end consumers directly. This would
enable them to earn revenue in addition to the revenue they generate by selling their produce to the
companies. Moreover, offering food products to end customers would allow local food manufacturers to
create demand among customers in new local markets which would in turn expand their business. The
food festivals would allow the local food and drinks manufacturers to market their food products among
tourists that would create demand about the food items. The national level food manufacturers may be
able to capitalise on this opportunity to expand into new international markets (Kim et al. 2015).

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Attracting tourism:
Festivals like Flavours of Australia allow the tourists to get involved in the local activities like
participating in local festivals. They as a result are able to experience the local culture and aspects related
to it like artefacts. These participation of tourists lead to promotion of these local festivals which helps the
tourism of New South Wales attract more international tourists. This would also boost the business of
business of hotels, restaurant and travel agencies serving these huge number of tourists. Thus, holding of
festivals like Flavours of Australia would enable organisations like hotels to generate huge revenue. Thus,
food festivals not only benefit local food businesses but also tourism industry of the place as a whole
(Webster and Ivanov 2014).
Economic development:
Thematic festivals like food festivals promote business generation in the local business
organisations and promote all-round economic development. The food festival would promote business of
the local food businesses of New South Wales like dairies and distilleries. The festival attract tourists
which generates business of hotels, travel agencies and restaurants serving these tourists. These business
organisations earn more profit and pay more taxes to the government. The government can in turn
channelize the fund towards further infrastructure development of the region. Thus, festivals today
facilitate huge capital generation and economic development of regions (Antonakakis, Dragouni and Filis
2015).
Role and importance of the local governments:
The governments today, in all the three levels, central, state and local play tremendous role in
supporting, financing and development of these festivals. The central government of Australia enter into
bilateral ties with other nations to attract tourists. The government also forms laws and policies pertaining
of food, tourism and all the related industries. The state governments like the Government of New South
Wales implement these laws at state levels. The local governments at the municipal levels enforce these
and provide amenities like venues to hold the festivals. The governments at the three levels allocate

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immense funds for laying of infrastructure like roads and communication network. The local governments
like Government of NSW today promote events on their official websites which boosts revenue
generation of these festivals. Thus the governments play significant role in financing and promoting the
cultural events due to the economic opportunities which they usher in the region (Antonakakis, Dragouni
and Filis 2015).
Benefits for the constituent (stakeholders) of the festival:
Stakeholder groups Benefits
Government, Ministry of
Tourism
Generation of more revenue and hence tax
Financial institutions Generation of more business, promoting their products among visitors, thus
paving ways for future business
Food businesses Revenue generation, market expansion
Local hotels, travel
agencies
Revenue generation by accommodating and catering to local tourists
Event management
companies etc
Revenue generation
Tourism and economic development of the NSW:
As discussed above, festivals the Flavours of Australia would bring about economic development
by generating revenue of all the industries present in the region like food businesses and hotels. The

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below diagram would exhibit the same:
Figure 1. Economic development cycle due to local festivals
(Source: Author)
Conclusion:
One can conclude that festivals like food festivals bear tremendous significance for economic
development of regions. They promote revenue generation of the local businesses which creates more tax
for the local government. The festivals not only spread the local culture but also the industries like hotels
and restaurants which serve tourists. The governments should support these festivals on larger scales and
Revenue
generation for
local business
like food, hotels
etc
More taxation to
government
Govt. spending
towards
infrastructure
and economic
development of
place
Attracting more
tourists
Food and music
festivals

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help them to gain international fame. This would enable these businesses to attract more tourists both
from within Australia and overseas, thus enhancing economic development of the place.

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Antonakakis, N., Dragouni, M. and Filis, G., 2015. How strong is the linkage between tourism and
economic growth in Europe?. Economic Modelling, 44, pp.142-155.
Brida, J.G., Lanzilotta, B. and Pizzolon, F., 2016. Dynamic relationship between tourism and economic
growth in MERCOSUR countries: a nonlinear approach based on asymmetric time series
models. Economics Bulletin, 36(2), pp.879-894.
Cleave, E., Arku, G., Sadler, R. and Gilliland, J., 2016. The role of place branding in local and regional
economic development: bridging the gap between policy and practicality. Regional Studies, Regional
Science, 3(1), pp.207-228.
Fuseini, I. and Kemp, J., 2015. A review of spatial planning in Ghana's socio-economic development
trajectory: A sustainable development perspective. Land Use Policy, 47, pp.309-320.
Jones, M.L. and Jones, M., 2014. Sustainable event management: A practical guide. Routledge.
Kim, W., Jun, H.M., Walker, M. and Drane, D., 2015. Evaluating the perceived social impacts of hosting
large-scale sport tourism events: Scale development and validation. Tourism Management, 48, pp.21-32.
Margaret River Gourmet Escape 2017. 2018. Home - Margaret River Gourmet Escape 2017. [online]
Available at: https://gourmetescape.com.au/ [Accessed 2 Apr. 2018].
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rural studies, 40, pp.90-101.
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Friedman, H.S., Bhutta, Z.A., Lawn, J.E. and Sweeny, K., 2014. Advancing social and economic

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development by investing in women's and children's health: a new Global Investment Framework. The
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trundleabbafestival.com. 2018. Home. [online] Available at: http://www.trundleabbafestival.com/
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